It is a great feeling to go home to your house where you have no landlord. However this is not always easy especially in this era where buying a home or owning property is very expensive. There is a possibility that no matter how much money you have you can rent first and then buy later. This is good news for in everyone who wants to own a house but only does not have enough amount to put down as down payment. Financial institutions are relied on by many home buyers in getting loans for the down payment and even buying the entire property at once but this is not something people with bad credit score enjoy and being able to rent and buy later is a great opportunity for them. Owning a house is not something that people should be locked out of just because they are not rich enough to afford stellar scores on their credit.
Another perk of renting to own later is that you will be able to pay the same price the house was being sold at when you moved in to start renting. Given how high the appreciation of properties is, you might end up paying triple or even quadruple what you could have paid when you were just beginning your tenancy. To avoid the plan backfiring on you ensure your landlord is in agreement about it and he or she is not going to go back on his word in future.
Realtors can make a house look desirable and sounds great for you to be living in but when you actually go to live there you might realise there is so much that is wrong with the house. It is something you’re not going to experience if you rent first and then buy later. It will not be wrong to say that you’ll have the opportunity to take the house for a test before making a lifelong commitment.
If possible, ask the landlord if some of the money you’ll be paying as rent at each month can be used to build the downpayment for the house. Given how financiers are hard to come by when it comes to getting a huge amount to use in paying for your house, this is a great way to pay for same without getting into debt. Given that you will already have an idea of what you are working towards, it is not going to be a burden for you to find the money at the end of the month.