RentToOwn-HouseFinder.com - Is lease to own for a home a good ideal?

Is lease to own for a home a good ideal?

It can be very good if a few things: First, you don't have the down payment to qualify for a loan to buy outright. Second, a portion of your rent goes toward the purchase price. This doesn't have to be the case but it certainly helps. Make sure the option purchase price is fair and not over inflated.
No......not if you can get a mortage........no tax advantage.........
In addition to the previous 2 answers, be advised there have been lots of posts in this category from people who have gone this route & then a few months or mid way through the lease period, there is a foreclosure notice fixed to their door and they can't get their deposit refunded. If you pursue this route, please do what you can to protect your deposit and any "option" money that is over & above what you will be paying in rent. Have a 3rd party hold your deposit funds in a trust account. If a real estate agent is handling this, they can have those funds deposited into their trust account. Or, you could have them held at the escrow office that will be handling the sale once the lease period is over. Or an attorney.