I know absolutely nothing about renting to own so if someone could elaborate on that would be great. also what are the pros and cons to each?
2006-08-14 06:34:53 · 5 answers · asked by the_original_pwnstar 1 in Business & Finance ➔ Other - Business & Finance
renting to own is good and so is buying a house, because u will own it and there for u can get ur money back by selling. just renting is basicly throwing ur money away and u never get a return on your investment. owning u can get a return on your investment.
2006-08-14 06:39:00 · answer #1 · answered by jaymccc 2 · 1⤊ 0⤋
2
2016-07-20 11:12:10 · answer #2 · answered by Meredith 3 · 0⤊ 0⤋
I would say buying a house would be best. Renting is just a waste of time, you end up paying more than you would if you bought a house plus if you but a house you can do what you want with the house without having to get permission from a land lord. Renting to own isn't all that great either, I would recommend buying a house.
2006-08-14 06:52:39 · answer #3 · answered by ihgirl_2005 2 · 0⤊ 0⤋
Rent to own is where you pay the owner of the house rent for x amount of years until you have paid the selling price for the house and then you own it. You can not claim on taxes since the mortgage is not in your name.
Renting an apartment gets you nowhere.
Buying a house - equity, tax deductions, etc. BEST WAY TO GO.
2006-08-14 06:40:12 · answer #4 · answered by UOPHXstudent 4 · 0⤊ 0⤋
http://www.vlender.com/cgi-bin/calc/rent_vs_buy.cgi
check out the link - allows you to compare financial situation of rent and own
you may also be interested in the following :
http://michaelbluejay.com/house/rentvsbuy.html
this last link describes rent to own option rather well:
http://www.lycos.ca/home-garden/real-estate/lease_options.html
good luck on whatever you decide!
2006-08-14 06:43:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
read this for some info
http://www.ginniemae.gov/rent_vs_buy/Rent_vs_buy.asp?subTitle=YPTH
2006-08-14 06:40:01 · answer #6 · answered by Big R 6 · 0⤊ 0⤋