How | To Rent To Buy A Home

Because they planned to own the home, the contract stated they were responsible for minor repairs under $500. This gave them a taste of homeownership—fixing leaky faucets and mowing the lawn—while the landlord still covered major issues like the roof or HVAC. 4. The Turning Point: The "Option"

They paid an upfront, non-refundable fee (usually 1% to 5% of the home price). This gave them the exclusive right to buy the house in three years. how to rent to buy a home

The house was now appraised at $380,000, but because they locked in the $350,000 price, they started with $30,000 in "instant equity." Because they planned to own the home, the

Instead of walking away, they looked into (also called a lease-option). Here is how their story—and the process—unfolds. 1. The Agreement: Two Parts in One The Turning Point: The "Option" They paid an