Reasons Why Interest in Rent to Own Homes in GA is on the Rise

As people learn more about different ways to qualify for home purchase, one method is taking over as a popular choice. There is one particular reason why interest in rent to own homes in GA is on the rise. It turns out that process is a win-win situation for both sellers and buyers.

There is no standard form for this type of contract. Real estate agents, property management companies and certain attorneys can look over an agreement with the renter/buyer. They might notice a provision that is disadvantageous and bring it to light. That leaves the option to renegotiate the deal, accept it as is, or move on to one of the other rent to own homes in Macon.

An advantage of living in Macon is the historic value of this Southern city. Events like the Cherry Blossom Festival in March bring locals and visitors to celebrate the return of spring. Take a stroll down the riverwalk or browse through the boutiques and art galleries that dot the area. Tourism has helped the city survive the economic instability of the last decade. That is another reason why it is one of the most popular places to live in Georgia.

Another reason this type of pending purchase plan is attractive is that it gives you anywhere from 12 to 36 months to build up a down payment and improve your credit score. Some property management companies report your payment habits to credit reporting agencies. The longer time provided for you to add to the escrow fund supplements other monies you are saving for a deposit. Meanwhile, your credit rating is improved by paying bills on time and avoiding extra debt.

Be sure to verify that the agreement you sign covers that possibility. You must have a certain amount for a down payment and closing costs. There is also the need to qualify for a mortgage when it is time to formally purchase your choice of the rent to own homes in GA. In the event you are ineligible or things have changed, walk away from the home when the contract expires.