The answer to this one isn’t cut and dry. Generally speaking, it’s more advantageous for a homebuyer to purchase a home “traditionally.” Rent to own (a.k.a. lease options) often require a large downpayment that may be lost to the seller should you the buyer choose not to execute a sale.
That said, they have their place in a market. If a person would like to buy a home but needs time to work on their credit, it’s an option. However, always consult with a lender, Realtor and attorney prior to signing or drafting a lease purchase option contract.
Looking to buy or sell a home in Colorado Springs? Call Rob at 719-440-6626!