Tag Archives | rent-to-own-homes

Things To Look For When Renting To Own A Home In Quakertown and Surrounding Areas PA

Renting to own a home in Quakertown and Surrounding Areas, or any city for that matter, isn’t a new concept… but the whole process of “renting to own a house” is a process that most people have questions about.

Well, you’re in the right place!

This article will walk you through what to look for if you’re looking for Quakertown and Surrounding Areas rent to own houses.

1. Find The House You Want To Live In Long-Term… Not Just Rent

A lot of people who are deciding whether they should just rent or “rent to own” look at the whole rent to own / lease option process in the wrong way. Don’t look at it like you’re looking for a house to rent for a little bit.  Of course, you should find a house that is one you’d love to live in for a longer period of time (no less than 5 years).

Why?

Because with rental houses, you know it’s a temporary thing… so you’ll settle for a house that is less than ideal.

But since you’re really looking to get a house to live in for years and years with a rent to own… it should be one that you can see your family in for years.

Yes, you’re renting a “rent to own” house… but you should choose a house you’d be glad to live in for years just in case you do exercise the purchase option at the end of the lease term.

2. Terms That Fit Your Goals And Needs as A Quakertown and Surrounding Areas Home Seeker

Not all rent to own houses in Quakertown and Surrounding Areas have the same contract that goes with them. So make sure to find out the terms of the rental agreement and the terms of the purchase option as well.  Usually the monthly rent tends to be a bit higher with a rent to own agreement vs. a normal rental agreement… because you’re basically paying a premium for the ability to potentially purchase that house at a pre-determined price in the future. There’s a lot of value in that.

But with rent to own agreements you should also have some flexibility that protects you. Make sure there are no fees for not exercising the purchase option at the end of the agreement.

Also clarify with the owner of the house on who will pay for things during the rental term like…

  • Maintenance
  • Lawn care
  • Insurance
  • Repairs
  • Upgrades inside the house (new appliances, paint, etc.)

Get it all in writing who’s in charge of these kinds of things during the rental term.

3. The Value Of The Home – The Value Going Up?

One of the big benefits of a Quakertown and Surrounding Areas rent to own home is the ability to lock in a home at a set price well in advance of you having to purchase it.

With a rent to own house contract, you agree on a monthly rental rate… a term of that rental (usually 12-24 months)… and a purchase price at a future date.

Because of this the purchase price usually doesn’t come at a discount for you… but, if you buy in the right Quakertown and Surrounding Areas PA neighborhood (one that is increasing in value)… you could be earning instant equity if you decide to purchase the home at the end of your rental term.

See Our Current Quakertown and Surrounding Areas Rent
To Own Homes Below!

If you still have questions about the rent to own process just call us anytime at 610-200-5544.

And if you want to be put on our local Quakertown and Surrounding Areas Rent To Own Home List click the link below to see what’s available.

See Local Quakertown and Surrounding Areas Rent To Own Homes >>

Quakertown and Surrounding Areas PA Houses for Rent – Why rent when you can own?

If you’re looking for Quakertown and Surrounding Areas houses for rent you may want to consider your other options as a potential home owner in the Quakertown and Surrounding Areas area.

Most locals who are looking for homes to rent in Quakertown and Surrounding Areas are likely looking at renting as their only option because of things like…

– Bad credit (and can’t get a traditional bank loan to purchase a home)

– Not enough funds for a large downpayment on the Quakertown and Surrounding Areas home you want to live in

– … or you’re just used to renting and didn’t know there were other options.

How Many Quakertown and Surrounding Areas Area Renters Are Turning To Home Ownership By “Renting To Own”?

If you haven’t heard of “renting to own” a home (some call it a “lease option”), you’re not alone.

But the “rent to own” concept isn’t new.

In fact, renting to own has become really common for many things, including furniture, electronics, cars, and more.

And the rent to own concept for houses has been around for decades as well.

So What Is A “Rent To Own” Home?

You can check out more info here on our website to learn more about renting to own a Quakertown and Surrounding Areas home… but in basic terms a rent to own home is…

… Simply a home where the owner of the house allows you to rent the house, with an option at the end of the rental term to purchase the house at a price you and the owner agree upon ahead of time.

You’re not obligated to purchase the home… but the seller is obligated to sell you the home at that pre-determined price if you choose to purchase it at the end of the rental term.

So How Does A Rent To Own Program Help You Buy?

There are a few big benefits to Quakertown and Surrounding Areas rent to own home programs like ours that can help many Quakertown and Surrounding Areas area residents to become home owners.

Usually there’s something causing people to choose renting over buying.

If your credit is preventing you from getting a bank loan to buy a home, a rent to own program can give you the time and assistance to improve your credit during the rental term… so at the end of the rental term you can hopefully qualify for a bank loan and buy the home!

Or for many people the issue is the downpayment.  If you just don’t have the money you’d need to put down on the house you’d want to live in… many times you can find rent to own programs with houses in the exact neighborhoods you want to live in… with much much lower move in fees… and even sometimes guidance in helping you build up the down payment needed during the rental term in the rent to own agreement.

In the end, if you’re looking for Quakertown and Surrounding Areas houses for rent… before you go and rent another house you may want to explore our Quakertown and Surrounding Areas Rent to Own Program to see if it’s right for you.

Renting to own isn’t for everyone… but if it’s the best fit for you this could be your chance to get out of the “rental rat race” and into a home of your own that you actually eventually own.

For more information on our local Rent To Own Home (lease option) program submit the form on the top right of this page, or give us a call anytime at 610-200-5544.