For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similar to a car lease.
Both renters and sellers need to be very clear about the contract they draw up before they agree to this arrangement. Renting to own has advantages and disadvantages.Sellers who have already bought a new house will have relief from paying two mortgage payments at once, and in a slow housing market with many homes for sale, this may be their best option. Buyers who can't yet afford a house may be able to get one more quickly.
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