Buying A Home
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4 losses: Blighted ovum 1/11, CP 12/11, CP 3/12, and our perfectly healthy baby girl Charlotte Grace, missed M/C 5/31/12 at 8w5d
Surprise unmedicated BFP 9/21/12!! Beta #1 9/22 (10 DPO): 46 Beta #2 9/24 (12 DPO): 226! Heartbeat 136 bpm at 7w! It's a BOY! Theodore Joshua 5/23/13 7:36am 7lb 13 oz, 19.25 in
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Rent to own?
Anyone have any experiences/opinions/advice about renting to own?
4 losses: Blighted ovum 1/11, CP 12/11, CP 3/12, and our perfectly healthy baby girl Charlotte Grace, missed M/C 5/31/12 at 8w5d
Surprise unmedicated BFP 9/21/12!! Beta #1 9/22 (10 DPO): 46 Beta #2 9/24 (12 DPO): 226! Heartbeat 136 bpm at 7w! It's a BOY! Theodore Joshua 5/23/13 7:36am 7lb 13 oz, 19.25 in
Re: Rent to own?
Personally, I haven't had an experience with rent to own, some friends of ours are renting to own and my mom was at one point.
Our friends are buying a house off of the wife's aunt and uncle. The aunt and uncle wanted to get out of the house for health reasons (master bed upstairs and they are getting older). Our friends couldn't get a mortgage so they are going this route. All is well with them.
My mom, however, experienced a nightmare with hers. She was buying a townhouse from this older woman and as part of the contract my mom was to get a mortgage in 2 years. My parents divorced a year before the purchase, my mom found herself with credit card debt and my dad passed away which caused drama in her getting her property settlement. She shouldn't have purchased the house, but thats not the point. My point with her situation is that if there is a mortgage requirement, make sure you a) will be able to get one and b) won't lose out on any sort of down payment.
A Realtor is the best resource! Your Realtor should advise you to speak with a lawyer or CPA if you have more questions beyond their usual expertise. If you are not using a Realtor than ask around and find one with local references. You need someone with your best interests in mind to represent you, negotiate contracts, and walk you through one of the biggest financial decisions you will make.
Speak with a loan officer or a bank you use and see if you can get qualified to buy a home on your own and start building equity in your own property.
With seller financing, often times interest rates are much, much higher than a conventional loan and you will end up paying a great deal more in the long run. There are sometimes incentives for first time homebuyers, veterans, or educators. Ask your local Realtor about these too. Happy home buying!
Roughly 10% of lease-purchase transactions actually result in a purchase. I would just search for a rental and if a lease-purchase opportunity pops up in the natural course of your search consider it.
More importantly, if you are thinking about a purchase talk with a mortgage professional to determine if or when you will be ready to purchase. They can guide you through the process, help prepare your credit, etc.