Rent to Own
by Allan Peters
Looking at a small starter home in a working class neighbourhood. Comparable is a rent to own property. I'm not familiar with how this works - here are the details on the comparable: Rent is $899./mth. or $5,000 down & rent of $1,099. credit back of $300/mth add to the down payment. After 36months = $15,800 towards purchasing the home.
The house I'm looking at is selling for $109,900 taxes are $1089/yr.
Do you like the Rent to Own process - have you used it? Pros/Cons?