Why settle for renting when you have the opportunity to become a homeowner in Florida, FL? It’s a valid question to ponder upon! If you’re currently scouring for rental properties in Florida, it’s worth considering the alternative options that are open to you as a potential homeowner in the vicinity.
Several locals in Florida who are on the hunt for rental homes may assume that renting is their sole option due to certain factors, such as:
- Poor credit that hinders them from obtaining a traditional bank loan to purchase a home.
- Inadequate funds to make a significant down payment on the desired Florida property.
- Simply being accustomed to renting and being unaware of other feasible options.
Why Rent When You Can Own in Florida?
How Many Florida Area Renters Are Turning To Home Ownership By “Renting To Own”?
If you’re unfamiliar with the concept of “rent-to-own” homes, which are also referred to as “lease options,” you’re not alone. However, it’s worth noting that the practice of “rent-to-own” is not a recent development and has gained popularity across various consumer goods such as furniture, electronics, automobiles, and beyond. Renting a house with the option to own it has been available for several decades.
So What Is A “Rent To Own” Home?
On our website, you can unearth more comprehensive information on the process of renting a home with the potential to purchase in Florida. In essence, a rent-to-own property pertains to a dwelling that the proprietor permits you to lease, while granting you the option to purchase it at an agreed-upon price once the rental period has elapsed.
You are not under any obligation to buy the property, but should you decide to exercise the option to purchase at the end of the rental period, the seller is bound to sell you the real estate at the predetermined price.
So How Does A Rent To Own Program Help You Buy?
There are a few big benefits to Florida rent to own home programs like ours that can help many Florida area residents to become homeowners.
Usually, there’s something causing people to choose to rent over buying.
If your credit score is hindering your ability to secure a bank loan for home purchase, a rent-to-own program can provide you with the chance and resources to bolster your credit rating during the rental tenure. This, in turn, may increase the likelihood of you being eligible for a bank loan and ultimately buying the home at the conclusion of the rental agreement.
On the other hand, for numerous individuals, the obstacle lies in the upfront payment required as a down payment. If one does not possess sufficient funds to fulfill this obligation for their desired residence, they may consider availing themselves of rent-to-own programs. Such programs offer the opportunity to acquire a home in a specific neighborhood while significantly reducing the move-in fees. Moreover, these initiatives may also provide valuable advice on how to accumulate the necessary funds for the down payment during the rental period as stipulated in the rent-to-own agreement.
In the end, if you’re looking for Florida houses for rent… before you go and rent another house you may want to explore our Florida Rent to Own Program to see if it’s right for you.
Not everyone is suited for renting to own, but if it is the right choice for you, this could be an opportunity to break free from the cycle of renting and to eventually own your own home.
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 (786) 904-1444.