How to Find Homes for Rent to Own

Homes for rent to own are a good way to try out homeownership before actually getting a mortgage. The way that renting to own homes works is the seller will agree to sell their house sometime in the future at a set price. The buyer will usually give the seller a down payment and then make monthly rent payments. A portion of the monthly payments will be used to reduce the final selling price of the home.

Difficulty: Easy

Instructions

1. Look in home for sale magazines for homes for rent to own. When you go to your local supermarket, you should normally see a rack full of magazines advertising homes for sale. Many owners don’t sell homes through rent to own, but you can still offer to rent to own from them.

2. Search online for homes for rent to own. Sites such as craigslist are great for finding rent to own homes. You can even specifically search by the amount you wish to pay. There are also websites purely dedicated to finding homes for rent to own.

3. Ask your friends and coworkers and see if there are homes for rent to own. Some workplaces have bulletin boards or message boards where people post their homes for sale. Your friends and coworkers should give you a better deal since you know them.

Tips & Warnings

• Homes for rent to own are a good way to get into owning a home without having to get a loan immediately.