Own That Jacksonville Home!
Why is Rent to Own Best?
The rent to own options gives you the advantage of working towards home ownership while towards homeownership while you are still paying your rents. This opportunity enables you to kill two birds with one stone. You do not just rent to expire; with the option to buy, each rent you pay goes toward your equity until you complete the payment and acquire ownership of the house.
Best Reasons NOT to Just Rent
1. Purchase Price
When signing the lease agreement or rent to own agreement, it will be indicated when the selling price of the property will be decided. It could be based on the current market value of the building.
2. Rent Payments as Equities
Another benefit and reason you should rent to own instead of merely renting, as usual, is that each rent payment you make will be considered as a credit for the purchase of the property. Usually, the rent payable under this arrangement is higher than the regular rent for similar properties in the area. However, each rent paid moves you closer towards becoming a Jacksonville homeowner.
3. Option Money as Deposit
The rent to own arrangement involves paying deposit money, which serves as a deposit for the home. It is a non-refundable fund, but it signifies a bond between you and the seller. This gives you the confidence that you will become a homeowner soon after closing the deal.
4. Lease Term
In the agreement signed, it must have been clearly stated when the lease option will end. At the end of the lease term (years), it is evident when you will finalize the purchase process and become a proud owner of a home in Jacksonville.