How to Build Your Home’s Equity

home-equity

Building equity is one of the main benefits of owning a home. You don’t see it happening while it’s happening, but the aftermath is quite rewarding. If all goes well, you end up with a significant asset that you can use for almost anything. What Exactly is Equity? Equity is an amount of your home you truly “own”. You are considered to own your home if you bought it but if you borrowed money to finance this purchase, your lender, usually a bank, has an interest in it until you…

The Main Pitfalls of Rent to Own

Rento-to-Own-Pitfalls

In our previous article, we covered the basics of Rent to own agreements and the main advantages both buyers and sellers can have by entering into such an agreement. In this article we will cover the main pitfalls and risks to keep in mind so that you know what is waiting for you and are prepared.  As everything in this world, nothing is perfect, and this includes rent to own deals. These transactions are complicated and bear both benefits and risks to buyers and sellers. Below are a few examples of what could go wrong but only an expert can tell you what…

Advantages and Disadvantages of Rent to Own

Rent-to-Own- Advantages-Disadvantages

Rent to own deals look and feel very similar to regular home sale deals but with a little twist. Both buyers and sellers can benefit from these deals under right conditions.  Rent to own deals are a little more complex in comparison, hence it’s always a good idea to get properly informed before engaging into signing a contract.   In this article we cover rent to own transactions involving a home but there exist other types of such agreements.  So, what is this rent to own? Essentially, it is a way to buy or sell something, in this case…