A rent-to-own home can be the perfect option to transition from renter to homeowner smoothly. Rent-to-own homes allow you to live in your dream home and save for your down payment while you occupy it. Finding a rent-to-own home might seem challenging, but here’s how you can do so:
Talk to a Real Estate Agent
The first order of business should be contacting a reliable real estate agent. Discussing your options with a seasoned agent can prevent you from becoming overwhelmed by complex contracts and agreements. This person can help you find a fair rent-to-own deal that will get you the home you desire.
Have Your Agent Look for Interested Sellers
Have your agent talk to sellers that might be interested in offering you a rent-to-own option. Some home sellers may agree to such an arrangement even if their homes aren’t listed as rent-to-own properties.
Ask Your Agent to Find Rent-To-Own Landlords
Your agent may also be able to find landlords who specifically want to sell their homes. Perhaps their homes have been on the market for a while and have not sold. Such sellers may be eager to enter into rental agreements with prospective buyers.
Consider Pre-Foreclosure Homes
You could also consider renting a pre-foreclosure home until it becomes completely available for purchase. That arrangement may give you the perfect amount of time to gather your down payment and improve your credit score and financial standings.
Search for Additional Options
You could also try to look for additional opportunities on social media outlets. Sites such as Facebook and Nextdoor.com might offer you opportunities that you’ve never before thought of.
The perfect home is waiting for you out there. You have to ensure that you’re proactive and always searching for an opportunity to get your foot in the door. The previously mentioned methods will help you move closer to your goal.
Contact one of our loan consultants to get more information.