Portugal Real Estate Beachfront

Rent To Own

Another option you may have is to buy the property you are currently renting or rent a property that also offers you the option to buy after a certain amount of time. This will give you a chance to see if you like living in the home and will give you time to get your finances in order.

Rent to own properties are usually older than other homes and have been rental properties for some time. This means that they may not be in great shape. If you are looking for a property that you don’t mind repairing, then this option may be for you.

When looking at a rent to own property, you should ask the following questions:

How old is the home?
How many times has it been rented out?
What is the mortgage payment on the home?
What is the rent per month for the home?
How long will I have to make my decision?
What happens if I change my mind?
What happens if the home owner changes their mind?

You should still sign the proper contracts stating that you are interested in buying the home after the given time period. This will protect your rights and the rights of the current home owner.

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