With rent to own listings throughout Illinois, let’s explore how the process of rent to own homes works for our clients in Lake County.
Featured Rent To Own Homes in Lake County, IL
Waukegan, IL 60085
Vernon Hills, IL 60061
North Sheridan Drive
Fox Lake, IL 60020
East Bonner Road
Wauconda, IL 60084
Barrington, IL 60010
Valley View Court
Antioch, IL 60002
North IL Route 83
Grayslake, IL 60030
Hyde Park Ave
Waukegan, IL 60085
Rent To Own in Lake County, Illinois
Rent to own provides an alternative option to the traditional home buying process. Instead of securing a mortgage upfront and purchasing the home right away, you follow a different approach.
You begin by renting the home, just like you would with any other rental property. The rental agreement, however, will include a specified period during which you have the option to buy the house. This time frame can vary from a couple of years to even longer, depending on your agreement.
During your rental period, a portion of each monthly payment you make will go towards the future purchase of the home. This helps you save up for a down payment over time while taking the steps necessary to purchase the house eventually.
Enjoy the Benefits of Rent To Own
Rent to own offers several advantages if you’re not quite ready or able to buy a home outright. These benefits include:
Building credit – Improve your credit score during the rental period to prepare for future mortgage applications.
Saving for a down payment – Your rental payments contribute towards the home’s purchase price, thus saving for a down payment becomes easier.
Testing the waters – Renting before owning gives you time to experience the neighborhood, the house, and identify any potential concerns that may not be apparent during a traditional home viewing.
Lake County is home to a wide range of rent to own properties, with options suitable for every taste and budget. Be it a comfortable family residence in Waukegan, a spacious estate in Libertyville, or a tranquil lakeside escape in Lake Forest, we have a rent to own option for everyone.
Embark on your home buying journey and find the perfect rent to own home in Lake County, Illinois. Check out all our rent to own homes in IL today and embrace the flexible path towards homeownership.