Why Rent To Own An Arizona Home?
There are a lot of benefits of a rent to own agreement on your next Arizona home!
Throughout Arizona, especially in the communities we specialize in such as Surprise, lots of smart people are using rent-to-own agreements as a way to get the home of their dreams without large down payments or having to qualify for a bank loan right away. Watch our videos about working down payments and credit seasoning or repair!
In the past few years, banks have been very tight on their lending criteria. There has been a lot of change in where people need to live for their work. People are migrating to states where they can have better lifestyles for their families; or maybe just get a fresh start with New Jobs, New Schools, and New Neighbors! Most people who use a Rent to Own Program agreement want a few years to get ready to qualify.
Also, most renters who have rented for years or have had some disruption in their lives due to divorce or death may find it difficult or save for the large down payment that is often required for qualification to conventional home buying process. This alone may require they take a few years to either fix their credit and or save enough for a qualifying down payment. Yet most renters pay rent on homes the owners have no intention of selling. Thats where Fresh Start Homes AZ stands out. Our Arizona rent to own homes are actually designed to have you, as a renter, purchase!
Here are a few more reasons to use a rent-to-own agreement:
- Try before you buy! You get to live in your rented home before you actually purchase it, allowing you to make sure it’s actually your dream home. If you don’t like the house, you don’t have to complete the purchase.
- Own without great credit or a big down payment. You can start feeling like a homeowner right away while saving up and improving your credit.
- With down payments starting as low as 5% for some houses, you can start out and/or increase your accumulated down payment over time to make qualifying for bank financing less challenging when you are ready to transition from renter to owner.
- Privacy. You’re not listed as the purchaser on any public records until the closing takes place, giving you years of privacy.
- Profit from home appreciation right away. Often, homes in Arizona are worth more on the day of the purchase than the price that you’re paying! This can be huge money.
- Move in fast. Since you don’t have to wait for a mortgage, you can often move in right away – and get started living a new life in the home of your dreams!
So don’t wait!