Should You Rent-to-Own a Home?

July 14, 2014 by · Comments Off on Should You Rent-to-Own a Home? 

Renters who want to own a home may lack a down-payment or solid credit needed to obtain a mortgage loan from a conventional lender. Rent-to-own properties may require the renter to fix certain items in the home or, in other instances, require the renter to make at least a year’s rental payments on time. Although specifics vary by rent-to-own lenders, it’s possible for renters to own a home when their ability to borrow from the bank or down-payment funds is restricted.

Considerations

Rent-to-own properties are likely to cost more than comparative properties available for outright purchase. It’s important to review the terms and conditions from the private lender to make sure they’re agreeable. For instance, the owner may require a balloon payment on the property at some future point. Alternatively, the lender may need the renter to fix the roof, furnace, heating or air conditioning as part of the loan agreement. The borrower must either pay someone to make these repairs or possess the skills to perform the tasks.

Time

Some rent-to-own lenders reserve a portion of the borrower’s monthly rent as part of the future down-payment. There may be terms and conditions associated with the lender’s agreement to conserve any portion of the rent for this purpose. For example, the renter must make each payment on time and complete any other agreements with the lender by a certain date. If the renter fails to pay or make improvements or repairs on time, the privilege (if granted) may be rescinded.



Kuba Jewgieniew is a real estate expert, and founder of Realty ONE Group. As a former stock broker, Kuba Jewgieniew is able to strategically use data to inform Realty ONE Group’s approach to sales.

Creating your dream garden

July 14, 2014 by · Comments Off on Creating your dream garden 

  • Do your research: The Internet is full of help. Many sites such as Pinterest, Houzz.com provides many helpful information and pictures of some of the best. There are plenty of published magazines and others to get help too. When you go through several examples, you will notice a pattern developing and follow your heart with their guidelines.
  • Where do you want your garden: Based on sun exposure, terrain, and many other factors decide where you like to place your garden. You can then measure the area and prepare a sketch.
  • Do your research on plant material: Western Garden Book and the Internet are two good sources to find information on successful plants for your area.
  • Visit your local nursery: With the knowledge of plant material talk to the specialist at the garden store to confirm your knowledge. They may even give you other vital information.
  • Prepare your garden: This include soil tilting, irrigation system installation, soil conditioning and drainage system improvements.
  • Planting: Follow the pattern you developed and use all your knowledge to guide you. Many plants come with planting directions. Any time during the process you can also get help from a gardener or any other person. Enjoy your labor of love.