How to Rent-to-Own your home if you are new immigrant to Canada

How to Rent-to-Own your home if you are new immigrant to Canada

You're a new immigrant, full of energy, vitality and hope for a new life in a new country!

You have a stable job that pays you well, and you have your eyes set on your dream home

Moving into your own new home in a new country is every immigrant's dream, but do you have the credit history required to qualify for a mortgage?

No?

Does that mean that you have to throw your money away as rent for 2-3 years?

Is there a better way?

Yes, there is!

In Canada, Rent-to-Own housing is very popular, and Canada has one of the larger "rent-to-own" markets in the world. For the new settlers, rent-to-own housing is a helpful way to acquire a house. It could also be of assistance to someone who might otherwise not be able to afford a home right now, have the option of owning their own house.

A rent-to-own home can usually put a portion of the rent toward the equity of the home. This is of great advantage because it allows the renter to own the house much sooner. Rent to own arrangements are also a great way to repair credit issues.

The Owner of a home rents it out to an individual or family who desires or needs to live there. The two parties work out the leasing arrangement and furthermore, the two parties also work out an agreement that states that the renter will have the option of purchasing the house at the end of the lease at a pre-determined price (How good is that!).

It is only to be expected that the rent may be a little higher because of the portion of the rent is going to the equity of the home (and is credited back to the renter!)

It is easy to see why rent-to-own housing is popular, and Canada is one of the better markets for rent to own purchases.

The Renter is not obligated to purchase the home if he or she decides that he or she does not want the house. That said, when getting into a rent-to-own arrangement, it is best to make sure that you will be able to buy the house at the end of the lease, otherwise money is just being wasted.

Think and earn wisely adopt the idea of renting your house and you will soon own it in Canada.

Want more information?

"My Own Home Soon" is a small reputable company that helps renters like you become homeowners.

Read more about how Rent-to-Own may be your solution to owning a home in Canada at http://goo.gl/E1z7B or http://sites.google.com/site/myownhomesoon/

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