There are many that are questioning lease to own programs and whether they really work for those that want a flexible option to moving into a home.  However, if you are considering this option, then you will want to look at the several negative and positive attributes that most are looking into.  This can help you to determine whether it will work for your lifestyle needs and budget while getting the results that you need.  Following are some of the top debates to consider with this alternative. 

Debate #1: There is no investment in lease to own programs. Many who are looking at real estate value will not only consider the initial capabilities with a home, but will also recognize the lost investment.  If you decide to lease a home, you have the ability to back out before buying.  However, the payments made aren’t reflected on your history and it is similar to renting an apartment.  While there is no investment, you will still be able to build your credit through continuous rental payments with the agreement.  At the same time, you will be able to move into an ownership program easily by taking the initial leasing step, without the same obligations. 

Debate #2:  When you work with a lease to own program, you are paying off someone else’s mortgage.  One of the reasons why many won’t look at renting then owning a home is because it will show on someone else’s credit and will go to their creditor.  However, working with someone else who has a mortgage will also give you flexible contract agreements, lower interest rates, and the ability to pay half what you would for a mortgage if you were paying directly to a bank. 

Debate #3:  With a lease to own program, you don’t have control over whether you can stay in the home or not.  There are several stories of those who decide they don’t want renters on the property anymore and will tell them they need to leave.  While this is a common problem, there are ways that you can combat against this to stay in a home.  Contract agreements may have statements that set specific timelines where you can stay in the home.  You can also negotiate terms so the landlord doesn’t take you off the property until a certain number of years have gone by so you can decide whether you want to own the property or not.