>Question: Why is rent-to-own a bad idea? I've been thinking

>>1674052
Just make sure to do calculations, it all comes down to the math. I cant tell you whether the price you're paying and the equity you'r getting is good enough or not, the same way I can't tell you what colour your shirt is

>>1674056
So the reason people advise against it is that you'll probably be paying more than the house is worth..? Is that what you're saying?

Because even if that's true... like I said, I'd be spending years wasting money on rent anyway. Might as well end up with a house in several years. It's all money I would need to spend anyway to keep a roof over my head, whether it's going towards rent (in the trash) or rent-to-own (a house that is mine eventually).

What I'm wondering is, do you not always get the house at the end or something? And still...even if that's true... isn't it just like paying rent somewhere, Where you never own the house at the end?

>>1674052
For example, if I were to go into a situation with low expectations, and the mind frame that I will never own the house.. what is the risk? If I just look at is as my new rental, where I will be paying rent... and maybe at the end I get the perk of getting to own the house I've been renting? What can go so horribly wrong that there are all these warnings about it being a scam?

>>1674072
Rent-to-own isn't a scam, necessarily. But, you'd more than likely be better off just buying a place without the "rent" part beforehand.

It's a legit way to become a property owner, though it may not be the cheapest option in the long run. Still, owning even overpriced property is cheaper than renting in the long run

>>1674163
why? If I could afford to buy, with a decent percentage to put down, obviously that's probably a smarter choice. But for someone like me who can only afford to rent, who will be paying $1k-1500/month in rent anyway to live somewhere.. is it better to let my rent money go towards a rent-to-own property? Or is it better to avoid the whole thing and wait until I can buy one in several years? If it's better to wait, why? Why not let the money go towards a property I can own?

sry I'm just having trouble understanding

>>1674190
Makes sense I guess...
so, it's a scam only if you can afford to buy (because you're technically paying way above market value)
but not necessarily a scam for someone who would be paying rent anyway, wasting money into a property that isn't theirs....?

>>1674196
The rent to own concept isn't a scam. It's real and people actually do it, but not ever property listed as rent to own is actually rent to own. You have to make sure that the house you're paying into is actually rent to own, and not some scam where you'll get strung along forever and never own the house.

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Rent or Own, there is no rent-to-own

>>1674214
How can I make sure?