Never Buy a Rent-To-Own-Home Without Considering These 5 Things
By Mark Brosius
Are you are looking into the idea of Rent to Buy homes (also known as lease to own)? How would you like to have a road map to help you find your way? These 5 tips will get you started but, you will need many more questions answered. You can find more tips on the authors site. Do a rent to own at your own risk without consulting the list below!

Consider This….

1. Location, location, location. The old axiom applies to Rent to Own as it would with any other purchase of real estate. Ask yourself, would I want to raise my children here? If the answer is yes, on to step 2.

2. If you can get a loan/mortgage and purchase the home outright, you may be better off doing so.If you think you may need to move within 2 or 3 years, Rent to own might be a better option even if you can get a mortgage now.
3. A Lease to Own/Rent to own is similar to “living together before you get married”. You might find out the other is a perfect fit. Or, you might find out the house has some really nasty habits! Either way, you haven’t made a life altering commitment. And, if you want to, you can take the plunge get a mortgage and make the commitment to own.

4. Make sure all the terms of the agreement to Lease to Own/Rent to buy are spelled out in writing. This one seems obvious but many people just don’t do this. It’s difficult to be dispassionate about something you really want. Be sure and have someone other than yourself, preferably a real estate attorney, look it over and explains the terms to you. You can call any title company and they will have an attorney on staff who can do this for a very small fee. Do this and you may save yourself finding out some huge, costly, surprise later.

5. Want to take the risk out of option to purchase? The option to purchase is the agreement that says you can (but don’t have to) buy the home for a specific price for a specific length of time; 1 year 2 year, etc. In a market where home prices are going up fast, less risk for you if you lock in a price in your option to purchase. In a market where prices are flat or falling (like now 2008) you have less risk if you don’t lock in the price. How do you do that? Ask the seller to put in where the purchase price goes in the Option this; “Price will be determined by a mutually agreed upon appraisal at time of executing Purchase Option”. This will mean you get a fair price when your ready to buy and so does the seller!
Other questions you will want to explore; is rent to own right for me? Why? Is now a good time to move? Want to learn more about Rent to Own/Lease to Own? Search the Internet or stop by the authors site and get the information you need to decide if it’s right for you.

Mark Brosius invites you to learn about rent-to-own home ownership and get on our list of available properties for the Metro Indianapolis Indiana area. http://theindyhome.com

(c) Copyright - Mark Brosius and theindyweb.com. All Rights Reserved Worldwide.

Financial Advice - How to Choose the Best Loans to Fit Your Needs
By Steven Clarke
Financial advisors will tell you that it is time to embrace the saving days of the past and forgo the borrowing days that are here. But no matter how many you hear this, you will still borrow money. Why? Is borrowing so entrenched in our society that it is impossible to scrimp and save until you can afford something? Hardly! The truth of the matter is that saving for major purchases is just not as feasible today as it was in the past. Soaring property prices, business expenses, costly repairs and the price of living have created a need for loans and other modern financial options.

No matter what you need in today’s economy, there is a loan to assist you. Some of the best loans offered include home loans, car loans, education loans and business loans. Other types of loans include personal loans, Christmas club loans, and revolving loans such as credit cards and store credit cards. Not all loans are created equal. And even the best loans can bury you in debt if you don’t use them the right way.

To ensure that you don’t ‘max out’ your borrowing power and end up under a mountain of debt, you have to assess your needs and choose only the best loans to fit those needs. You may want a top-of-the-range car, nice house, designer clothes and scrapbooks full of holiday photos, but can you afford all of it? This is where loan abuse can come into play. You should only borrow what you should afford. Never finance a lavish lifestyle that is above your means.

When you assess your loan needs, you may have to make sacrifices. For example: If you want to live in a sought-after neighbourhood, you will have to pay more for your home. In order to afford such a home, you may have to drive an old second-hand car that is paid for until you can SAVE the money for a new car. It’s all about picking and choosing the best loans to suit your needs.

When it comes time to choose the best loans to fit your lifestyle, you need to really think about how you live. What is important to you? What can you live without? Do you NEED a nice, dependable car for work? Do you need to pay for a child’s education? Put all of your needs on a list and mark them according to your priorities. The needs that come out on top are what you should finance. You can save for the rest.

You should also keep a close eye on your mix of credit. Most financial advisors recommend that you have one secured loan for every two to three unsecured loans that you have. This includes credit cards. A house payment and a couple of credit cards are ideal. Once you get multiple secured and unsecured loans, you may not be able to keep up. Remember; even the best loans need to be used properly.
Steven Clarke - Marketing Manager for http://www.theloanshelpline.co.uk - We offer a loans advice service which compares all the best UK cheap loans to get you the cheapest loans deal.