Rent to own homes? NW Houston Katy Cypress (real estate, 2015)

[gamergal]

We've been renting in the Woodlands (just moved to Texas a year and a half ago) and my husband got a new job off Cypresswood E of 249, so where we are is going to be a long commute in the morning. Also, we don't really like the "feel" of the Woodlands, it seems less "Texan" and more Midwest..

So with having to move again, we were wondering how common rent to own situations are out here? I hate to have to rent again and lose all that money when some of it could be going towards a downpayment, as well as feeling more like a home if we are taking steps to make it ours..

So, anyone know if with the way the economy is, if this would be doable and how to go about this? Would realtors know?

[lipbalm]

is your credit shot and don't have down payment for a house ? Otherwise this is a terrible idea

[gamergal]

Originally Posted by lipbalm

is your credit shot and don't have down payment for a house ? Otherwise this is a terrible idea

We went thru bankruptcy a few years ago due to job loss so we moved down here. We don't have a down payment right now. Why is rent to own a bad idea?

[CptnRn]

https://www.propublica.org/thetrade/...-housing-trick

Is Rent to Own a home, a scam?? | Zillow

Home Buying: Are there legit rent to own programs? My credit is 625 and I am looking to own a house in the northeast area 19141 - Trulia Voices

https://hotpads.com/pages/renttoownopportunities.htm

Beware Wall Street’s Rent-to-Own Scam - Truthdig

I hope these help.

[gamergal]

Thanks for the info..I just hate the idea of moving and renting AGAIN to be close to his job and not know if the owner would be amenable to selling if we wanted to buy the rental after our lease was up. I would really just love to be stable again..

[Noregrets11]

Have you checked Craigslist?

[Failed Engineer]

Contrary to popular opinion, renting is not "wasting" money.

Not all homes increase in value, there are significant transaction costs involved in selling a home that eat up most if not all of the appreciation unless you own for a long time or timed a hot market perfectly, and money can be tied up because you can't always sell at the most opportune time for yourself. A lease you can setup to give you the flexibility you need.

[viyad21]

when you rent to own, basically you are paying higher interest rates, not only that, but the owner/ seller/ or landlord really does not discloses whatever is going on on the property (bad stuff).. in the case that you do, make sure you get an inspection before going into a contract with the owner of the house and is best to go though a real estate lawyer to do the contract.
Good luck!