You have to live somewhere, right? But don't you get frustrated paying Rent, when what you really want to do is BUY a home of your own? It can feel as if you are throwing money down the drain. Most people that are renting right now, wish they were paying for their own home instead. Times are changing, not only in the Real Estate market, but in the Mortgage market as well. It's getting harder and harder to buy a home these days. Renting the place you live is not a bad thing, but if you want to own a home some day you have to take action.

So if you don't own a home yet, you have to wonder... Are local home prices going to increase to a point that you may NEVER be able to afford a home in this area? They could. How much is the house you want going to be selling for by the time you get ready to buy? What about interest rates? And lending guidelines? How do you even know when you're ready to buy? It's all pretty scary stuff if you don't already have a home of your own at a payment you can afford.

"But I can't qualify for a home loan right now!" There are several reasons why that could be the case: Low credit score Short job history Tight lending practices Not enough saved for downpayment High home prices are out of reach right now You fill in the blank _____________ If any of the above ring true for you, then you are going to want to learn about another way to move toward homeownership. You could find a property that you could Rent-to-Own. Some people call it a Lease/Purchase or Lease/Option, but whatever you call it, it can be an excellent way to get into a home of your own when it seems as if nothing else will work.

Keep reading to learn more about how the Rent-to-Own works. Or If we don't have any homes available on a Rent-to-Own program right now and you are interested in finding out how we still may be able to help you, click HERE.   It is a very Simple concept. I will refer to Renting to Own as a Lease/Option because it makes it a little easier for me to explain to those of you that aren't familiar with the concept. A Lease/ Option in actually two things, as the name implies. You have both a Lease (or Rental Agreement) and an Option Agreement to Buy or Purchase the property at some future date. Usually anywhere from 12 - 24 months. The Option, or future Purchase price, is usually decided on at the beginning of the Agreement (but not always). This gives you not only the benefit of any price increase above that amount (if your Price is decided up-front) but also the feeling of Ownership even though you haven't bought the Home yet. Let me give you an example of what I mean by that. Say you are renting an apartment or house and it could use a little improvement like some landscaping or new blinds. You will often tell yourself, even if you really want to spruce the place up, "It's not MY property so why would I do (whatever it is) for someone else's benefit?" So what do you do? You put up with it the way it is and lose out on living in a place that Feels like Home. Or worse (for the Landlord too) lets say you let little or minor issues and repairs go. Again, because it's not your home or responsibility. Now you eventually reach the point that you want to move, "This place is getting a little run down." It's a known fact that people take more pride is something that is theirs.

Back to understanding the Lease/Option.  There are more advantages to you, the Tenant/Buyer. Have you ever test-drove a vehicle that you really wanted only to change your mind after your test-drive? Well, that is kind of what it's like to have an Option to buy a Home. It's just that, an Option. Not an Obligation. What that means is that if you accept a job-transfer, decide that you want your kids to live in another school district, need something bigger or just simply decide that you don't like the house or the neighborhood anymore. You don't HAVE to buy the house. An Option gives you the right, not the obligation. I have met so many people whose lives changed, for whatever reason, shortly after buying a home. And in some cases, they ended up losing the Home and ruining their credit. Think of a Lease/Option as testing the water. If it feels good and everything goes as planned, you exercise your Option and Buy the Home. Everybody is happy. On the other hand, if life changes like it did for one of my Tenant/Buyers, you don't exercise your Option to Purchase the property. And that works in your favor to. With out telling you their names, I'll tell you about their experience. This family moved into one of our properties with a Lease and an Option to Buy the property within a fixed amount of time. With out looking it up I believe they had a two year period in which they could buy the property. (Having an Option period, meaning the Option to Buy the property has an expiration date, doesn't mean you have to wait until the end of the Option. You can exercise the Option at anytime from the first day until the expiration date. (As long as you have kept all of the terms of the Agreement.)

Anyway, this family was very close to having their loan ready to make the purchase of their HOME a reality when something terrible happened. The husband was rushed to the hospital with severe heart complications. Surgery and the hospital stay turned into stacks and stacks of bills that they couldn't pay on their own. So with him not working, for obvious reasons, and her having to cut her hours to help take care of him, they no longer could afford the house and had to move in with family. Now the GOOD news. If this family had this terrible event happen in their life after they had Purchased the property, the bank that just loaned them the money would probably have little sympathy for them. But you can't blame the bank right? They would need their money... or the house, and this family would have bad credit, again. The ONLY good thing that came out of this nightmare was that this family was able to walk away from their Option without further damage to their credit or having to deal with a difficult Lender on top of everything else they had to deal with. She even told me that when they can get their lives back in order (as much as possible) they will be back to Nu-Start Properties, Inc. to get another new start.

But didn't I read that not all of your homes were not available on a Rent-to-Own Program? Yes, not all of our Homes for Rent will be available as a Rent-to-Own. However, one of the benefits of Renting from Nu-Start Properties, Inc. is that we cater to our Tenants. This means that our Tenants interested in a Rent-to-own property hear about it before we do any marketing. The property most likely won't be available long enough to bother with even putting it up on this site. We have other ways of helping you move from Tenant to Home Owner. Go HERE to find out more.

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