Has anybody done..

[gunabeagoodmum]

Rent to Own houses? DH and I are looking at doing it to try and provide a permanent home for our DS and not pay someone elses mortgage.

Im not sure what exactly is involved with it. If anyone has or is doing it at the moment can you please give me the basics.

Thanks in advance

[rhoda]

Subscribing

[Allymumtobe]

Like the hand written signs on the side of the road? My father said so this is only anecdotal but I was told the houses are brought with drug/criminally acquired money and you paying the rent to them legitimizes the money. So I would be hesitant to enter into a deal with those sorts of people. But that's not to say there aren't legit ones

[Myztiks#1Fan]

Going to bump but wohldnt you also be paying a lot more money doing one of those?

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[MothersMilk]

I would stay clear, they are dodgy imo.

[KnockKnockPenny]

My old housemates are doing it ATM and its really working for them. The guy who owns the house built it himself. They pay rent and an extra $100 a week to go towards a 'deposit' and then they just get finance for the house at the end of their rent to buy contract.

[MothersMilk]

HERE is an article that sums up how i feel about 'rent to buy' houses.

[TripleTime]

Total garbage, rubbish & should be illegal.

[gunabeagoodmum]

thanks for the advice ladies. we will definately steer clear of them

[mumma2ajem]

i would never do a rent to own on anything let alone a house you see those furniture ones etc and they rip you off big time and the houses are just the same youd be better off saving for a deposit and buying a small house to ghet you started