If you’re looking for houses for rent by owner in Surprise, have you considered rent to own?
Rent-to-own gives you the best of both worlds… and you don’t need amazing credit to do it!
Given the choice between renting and rent-to-own, we believe that rent-to-own is often a better choice. In this blog post, we’ll look at the 4 reasons why rent-to-own is a great way to buy a house… even if your credit isn’t perfect. If you’re looking at houses for rent by owner in Surprise then you may want to expand your search to consider rent-to-own options…
Owning a home is part of the American Dream… but it’s also very expensive. Many people are forced to rent, putting money into their landlord’s pocket while struggling to get ahead. Wouldn’t it be nice if you could “rent your way to home ownership?” You can. It’s called “rent to own” and it’s growing in popularity.
It works like this: A renter rents from a property owner, just like normal. But their agreement is often a multi-year agreement in which they agree to purchase the house at the end of the rental term. Keep reading to discover 5 reasons why this is SO powerful and why we at Fresh Start Homes AZ love it so much.
Rent To Own Reason #1: Easy to Qualify
It’s easy to qualify. Even if you are just starting out in life, maybe after graduating from college or high school, you can get started on the journey to home ownership a lot sooner than most people. Why? Unlike the conventional way people buy houses — waiting until they have their full down payment saved — waiting until they’ve built up an excellent credit score — a rent to own property starts off as a rental but with an agreement to purchase the home at some specified future date. There might be other qualifications required, such as passing a back ground check, or not having a history of evictions, but, in general, it’s a much easier way to qualify to buy a house.
Rent To Own Reason #2: Bad Credit OK
You can buy a house even if you currently have bad credit. You see, historically, if you didn’t have great credit, you were locked out of the home buying opportunity–period. Bad credit, even if it wasn’t your fault, meant you had to be a renter and never able to build wealth the way home ownership in the United States allows for. Most rent to own program are designed to help you fix your credit as you pay your rent. With the rent to own programs Fresh Start Homes AZ offers, Fresh Start Homes AZ provides a credit fixing process designed to get the renter/homeowner mortgage read within just a couple of years. Thus, with a rent to own and you have a chance to fix your credit before final purchase! A rent-to-own agreement doesn’t always require perfect credit, but it does give you a chance to establish yourself and fix up your credit so that, by the time you’re ready to make the purchase, you may be able to qualify for a mortgage.
Rent To Own Reason #3: Try Before You Buy
Whoever heard of try-before-you-buy homeownership?! With rent-to-own houses, you can. You can “try out” homeownership before you actually buy. Some renters don’t really know all of the details involved in homeownership or taking care of a house and property they own without the interference and restrictions of a landlord. There are property taxes, hazard insurance, upkeep and maintenance, to name a few. Some renters are thrilled with the control they have over the place they live and the psychological sense of “ownership”. A rent-to-own agreement gives you the ability to try out home ownership first to understand what it’s really all about without having to first get a mortgage!
Rent To Own Reason #4: Roots
You get to put down roots. One of the biggest complaints of renters is that they feel like they don’t have a permanent place. They’re stuck in year-to-year rental agreements and don’t feel like they have a permanent home that they can make their own, inside and out. But rent-to-own agreements in houses for rent by owner in Surprise, you AND the owner know you’re in it for the long haul because you plan to buy the house.
4 Tips About Rent To Own Houses For Rent By Owner In Surprise
Rent To Own Tip #1 Easy to Qualify
Rent To Own Tip #2 Bad Credit OK
Rent To Own Tip #3 Try Before You Buy
Rent To Own Tip #4 Put Down Roots
Summary
If you’re looking for houses for rent by owner in Surprise, you should broaden your search and start thinking about rent to own properties, too. This is a simple strategy to help you get into a permanent home sooner, and you don’t need perfect credit or a huge down payment to make it happen! Fresh Start Homes AZ has many to choose from.