If you’re looking for Wellington Fl houses for rent,
you may want to consider your other options as a potential homeowner in the Wellington area.
Most locals who are looking for homes to rent in Wellington probably doing so thinking that finding a house for rent is their only option because of their circumstances including…
– Bad credit (traditional banks are unlikely to finance someone with poor credit)
– Not having enough funds for a significant downpayment on the house you want to buy
– … or you’re just accustomed to being a renter and are uninformed of other options.
Why Wellington Florida Renters Are Turning To Home Ownership By “Renting To Own”?
“Lease to own” also known as “rent to own” is somewhat unknown to many renters.
But, “rent to own” as a viable way to own real estate is not 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.
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 Wellington home … but in basic terms a rent to own home is …
… Simply an agreement between a homeowner and a tenant-buyer to rent the home with the right to buy the house at the end of the lease.At the end of the term, the tenant buyer has the option to purchase the house at the agreed purchase price.
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 Wellington Fl rent to own home programs like ours that can help many Wellington area residents to become homeowners.
Usually, there’s something causing people to choose to rent instead of purchasing.
If your credit is preventing you from getting a bank loan to buy a home, then a lease to own opportunity can give you the time you need to work on your credit…. then the hope is that before the end of the rental contract you will have done the work to improve your credit and now can qualify to get a new mortgage and buy that home.
Or for many people the issue is the downpayment. Banks are asking for a larger downpayment in the aftermath of the financial crisis. If your credit is not that great they may ask for an even larger downpayment. That can be a problem for would-be buyers who cannot afford a large downpayment. Rent to own programs can be a great chance for you to live in the neighborhood you desire while you are repairing your credit and putting together the required downpayment.
Leasing to own a home 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. A home where you can raise your family and build equity.
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 561-771-4347.