rent with option to buy 04 by Editorial Zone
Published Date: 13/06/08
Everyone knows that rent is a bad deal. The landlord provides nothing but shelter, and in exchange you have to pay perpetually. You end up with nothing except for the shelter that you enjoy those years. Most people dream of being homeowners, but if you have bad credit or cannot afford the down payment, you are out of luck. The only solution that is available for people in that situation ? people without a lot of money for a down payment ? is to rent with option to buy.
Unfortunately, there is a downside to homes for rent with option to buy. First of all, usually you get to keep less of what you put in than if you were to get a mortgage on a house. Most of the money that you pay goes to rent, and only a little of that can be transferred over to home payment if you do decide to buy it. This means that if you rent with option to buy houses, it will actually take you longer to own your own home than if you mortgage one. It is true that rentals with option to buy are still a better deal than normal rentals, but they're still far from a good deal.
Another problem with homes for rent with option to buy is that they often have bad landlords. It is true that you might get a lousy landlord even as a normal tenant, but you are more likely to if you rent with option to buy. You see, the landlord is less likely to put a lot of energy into maintenance of a home if they think that you are going to buy it anyway. Why would they? Why not wait for you to get the home as your own, and then leave the repair expenses to you. If you rent with the option to buy, you are likely to have greater repair bills and more difficulty in getting your landlord to do basic maintenance.
Of course, houses are not the only thing that you can rent with the option to buy. You can rent computers with the option to buy as well. This, however, is not likely to be a good idea. You would do much better to get a used computer for a greatly reduced price than to rent a new on. After all, computers depreciate in value so quickly that once you buy it, it will be practically obsolete. The same goes for furniture and other household appliances.
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