That depends on several factors. There are various ways a rent-to-own program can be put together. First, why do you want to do a rent -to-own? Are you credit-challenged? Cash strapped? Not sure that you want to buy right now?
Also consider that you will still have to put up the security deposit, first month's and maybe last month's rent to get into a rental. Sometimes that adds up and those funds could be used as your down payment for a home purchase instead of going into the landlord's pocket.
A real estate agent experienced in putting these types of contracts together should be consulted. The agent will provide you with suggested properties that are willing to consider a rent-to-own situation, help you assess the value of the properties and navigate you through the entire process.
If I can help answer further questions, give me a call.
CRIS, AHWD, Certified Foreclosure & Short Sale Adviser,
Employer-Assisted Housing Specialist
Champion Realty, Inc.
711 Bestgate Road, Annapolis MD 21401