Colorado Springs Rent to Own
Rent to Own Colorado Springs,The process of Lease Purchase, which is now also known as Rent to own has benefitted from a huge surge in popularity in Colorado Springs over the past few years. Many people looking to buy a Colorado Springs home, but worried about rising costs compared with rental prices are seeing this as a viable way forward when needing to find somewhere new to live.
Kenna Real Estate believe Rent to Own in Colorado Springs is a great move to make. Opting to use Kenna Real Estate in Colorado Springs, Colorado is the perfect choice if you want to make the transition to becoming a homeowner as straightforward as possible.
It doesn’t matter what type of home you’re looking for; a large home, condos or townhomes, whether for a family or a single person. We’ll help you choose the home you want to live in using our Rent with a Right to Purchase Program.
Still unsure about the rent to own process or need to know how does rent to own work? Here are all the facts and figures you’ll require.
Selecting a new home in Colorado Springs
There are lots of different factors that need to be looked into when opting for a house move. Buying outright needs very careful consideration and it’s important that the following points are thought through fully: We can consult you and find finance options available from no money down programs to the rent to own program.
- Can you afford the upfront costs of making a property purchase?
- Can you afford the down payments?
- Can you also afford the closing costs?
- Will you have enough money left over to pay taxes and other fees
The amounts of money needed for these services are not small and are often the costs that put many people off buying for the first time.
Often people will then decide to simply stay in their rental properties, especially if they know they will want to move on within five years or so.
These aren’t the only costs that stop people from buying a new home in Colorado Springs. There are also outlays such as general upkeep, maintenance and repairs that all fall to the person who owns the house, rather than the landlord.
Property insurance also costs money and is something that needs to be carefully considered too. Anyone who owns a home is automatically responsible for this. Whilst persons who rent, leave these issues to their landlord too as they’re usually covered by the monthly rental fees.
Rent to Own in Colorado Springs - Could it Work For You?
Rent to own in Colorado Springs is a scheme that could really reap rewards for you if you’re currently renting a Colorado Springs home and want to take the initial steps to home ownership.
Colorado Springs Rent to Own Program - how it works
Rent to own works in the following way. People who want to buy their own home can potentially select the house they want, and after a few simple credit and background checks, move into it. They sign a lease which covers them for a period of time up to five years. During this time they rent, and can save money to buy the home outright.
Every state in America has differing laws and regulations on how this will work and no two rent to own contracts will be the same. Check out the rules for where you live. Contact us to ask a professional how the rent to own program works
Just use the rent to own program as a rental home in Colorado Springs.
The person partaking of rent to own will simply rent the property they potentially want to own for a set period of time. Usually this amounts to between one and five years. The major benefit is that you pick any Colorado Springs home that is listed for sale in the Colorado Springs area. Once this set time has elapsed they have the option to buy the home from the seller as anyone else purchasing a home for the first time, would.
As always there are terms and conditions that must be examined carefully but this sets out the procedure in simple terms.
Rent to own in process and application
If you decide you want to opt for rent to own in Colorado Springs then you’ll firstly need to fill in a pre-qualification application form. This initial check makes sure that the person or persons applying are suitable to do so. You can make an apoitment to talk about options with a consultant
Anyone who is aged eighteen or older will also have to fill in the same form and have the same background checks, too.