If you’re considering buying a home and want to try out being a homeowner, then leasing to own may be an option for you. This type of arrangement allows you to rent a home with the option to buy it at a predetermined price in the future.
The advantages of renting to own in Pennsylvania include:
No money down. You can get into a house without having to pay any money upfront. In addition, if you don’t qualify for a traditional mortgage loan, you might still be able to get into a house by using this type of arrangement.
Flexibility. You can get out of the lease if your situation changes or circumstances change over time that make owning the home more difficult than anticipated. In addition, if the value of the home goes up during your lease term, then you may be able to take advantage of this increase in value by exercising your right to purchase the property before your lease expires so that you can sell it on your own later on if desired.
Security. You can get the security of owning a home without having to pay for it up front and taking on the risk of making payments on it alone. Instead, you can share that risk with your landlord by paying rent each month.
Find Pennsylvania Rent To Own Homes Online
You can find a wide variety of rent to own homes in PA online. A quick search will show you how many properties are available throughout the state and what they cost. Many homes in this category are located in rural areas and small towns, which means that they generally come at lower prices than those found in cities such as Philadelphia or Pittsburgh.