Discover rent to own
Rent-to-own is a solution for people who do not have the money to buy a house outright. In most countries of the world this style of purchase exists and has been really feasible and beneficial.
If you still don’t know which house or flat to choose to live in, we can understand. That is why we recommend this type of purchase so that you can try different properties until you decide on the one that suits you best. Buying a property is not a decision to be taken lightly or quickly.
How does rent-to-own work?
Rent to buy is a contract in which the person who wishes to buy the property pays a monthly instalment for it. In the future, depending on the period of time agreed between the seller and the buyer, the buyer pays a final instalment and acquires the property.
The term for paying the total amount of the property is free, however it is usually around 5 years. It is important that buyers and sellers discuss and agree on this term, as it affects both parties. Once the time agreed between seller and buyer has been met, the purchase of the property can be formalised at the notary’s office.
What are the benefits of renting with option to buy?
If you have decided to rent to buy, you have made the right choice because it will be very beneficial for you. You will have the possibility to apply for bank loans and be approved, which is a great help. It is also less stressful for you in case you do not have a permanent job.
Last but not least, we mention the possibility you have to try out how you feel in different types of properties before buying them. Renting to buy will reduce your stress levels before a purchase, it is really very beneficial.
Rental with option to buy, your best alternative
Renting with an option to buy is an alternative that you have to analyse and think about very carefully. It has its advantages and disadvantages, although the advantages often outweigh the disadvantages because it is actually very beneficial. It is also important to consider your short and medium-term needs, as well as your financial situation, before making your choice.
Always seek advice from a professional to help you make the best choice, contact us!
