5 Reasons for Choosing Rent to Own the Property Option

There are an ample amount of people that think buying a property is overrated. But, there are countless reasons why this option is better than traditional house renting. More so, we also understand that not everyone can afford to own a property. Therefore, we recommend them to think of rent to own in Perth. If you haven’t given a good thought to it, we have listed the perfectly good reasons for you to stop renting below,

To Start Building the Home-Equity

The monthly rent payments do not build you any home equity because you do not own a property. On the other hand, owning a property does. The equity you make with being the owner of your house can provide you with various financial incentives in the future. For instance, you can use it for the children’s college savings, home renovations, or paying off debts including mortgage.

There Will Be No Increase in Monthly Payments on Property

A common problem with renting is that there is always a chance for an increase in the monthly payment. However, when you have a fixed-rate mortgage, you’ll know what exactly will be the amount you have to pay and there will be no surprise cost. Despite the increase in the house value, the mortgage amount will stay the same. So, escape the rent trap now and prepare for your future planning without any stress.

There Are No Pet Fees

If you are a pet owner then you seriously have to reconsider the option of renting. Firstly, many landlords won’t allow pets on their property. Secondly, even if they do, they will charge a pet fee. It is an additional cost that is not what you need, especially if you are saving for the house. Therefore, we would recommend you to explore the option of rent to own homes. This way, you’ll not only pay the rent but also an extra amount so you can own that house in few years.

Consider It as an Investment Opportunity

Unlike renting, when you own a home or choose the rent to own option, you are not just paying the monthly instalments. You’ll be building equity as well as making a long-term investment that will be highly beneficial in your future family planning. While renting may seem suitable in the short term to save finances, homeownership will offer you more advantages in long-term planning.

You Can Control the Costs

Homeownership is much more than just a financial transaction. You can put down roots and establish a lifestyle in your desired community. Furthermore, when you are renting, there is no control over the rent prices or the decision over the selling of the property. Whereas with owning a house or rent to buy homes in Perth, WA, you have the option to make all the decisions. You can make a budget to pay your mortgage with the comfort of knowing that you will own the property.

These are a few of the many reasons that you should stop renting and consider other options. If you want to come out of renting, contact Stop Renting Perth to explore your options.