Renting vs. Leasing-to-Own
March 2, 2009 9:38 AM Subscribe
Posting for a friend: My wife and I are moving from BFE Oregon to Lexington, KY. We sold our little house in Oregon without losing any money, but we aren't looking to buy a house in Lexington just yet since we don't know much about the market or where we'd like to live. We have noticed that a lot of property agents rent single family homes, but also offer lease-to-own agreements on new(er) homes. Some of these homes are pretty nice, new, and seem to be in decent areas (we're flying out to see prospective rentals, so we'll be able to see anything before an agreement). Has anyone ever been in a lease-to-own agreement for a house? Is there any advantage to leasing a house like this, instead of just buying it? Does it typically cost much more than renting a place for a few years and then eventually buying? Is the eventual cost the same as simply getting a mortgage and buying the house?