Why The Rent-To-Own Form Of Property Purchase Is Complicated
A rent-to-own contract can allow you to move into your desired home even if you don't have the down payment right away or if you have a dismal credit rating. However, it does have its drawbacks, and you should be aware of them before signing such a contract. Here are a few examples of these potential complications:
You Lose Your Investment If You Default
If you buy your house via a traditional mortgage payment plan, you can sell it and recoup your investment (or at least part of it) if you default on your loan.