There are not many "rent to own" options on the market, but my opinion is that if you found one on which you and the seller agreed to the price and terms, it is a better option than a straight rental. The seller would be taking his property off the sales market to rent-to-own on your behalf, so may expect a different arrangement than just a straight lease. He may expect a non-refundable down payment in addition to the customary security deposit. If for some reason you did not close on the property, the seller may keep that deposit. You may find it beneficial to come to terms, however, on a purchase price now for a future closing because prices are lower now than they may be in the future, so this could be a good reason to enter an agreement like this. I'd be happy to help you find a home that may offer this option, or to answer more questions. Just let me know!
Dora Lee Taylor, GRI, SRES, SFR
Certified Buyer Representative
William E. Wood and Associates