Tuesday, March 21, 2017

4 Considerations on Rent to Own Houses If You’re Newlyweds


After the exchange of ‘I dos’ comes the next chapter of you and your partner’s life―the hunt for your dream house. It’s one of the toughest and most expensive decisions that the both of you will make so careful planning should be implemented at all costs. For the first step, always consider the location. How about Parañaque, a city of accessibility?

Everything is within reach: business districts, shopping malls, churches, hospitals and schools among many other establishments are right at your doorstep. It’s no question that the thriving city is one of the key municipalities in Metro Manila.

Now, it’s time to think about whether to rent or buy. Securing a loan is quite challenging so maybe you should consider a rent to own house and lot in Parañaque. Here are some factors why: 

Immediate Move-in

You and your significant other should first go on a tour around the neighborhood. Are the streets safe? How about the house itself, are there parts that need repairs? Also get an appraisal. Make sure that the house is worth the price. When you have these in order, you can now sign the contract and move into your new home right away. 

Contingency Plan

Most rent to own houses work this way: you rent the house for a certain amount of time and then you are guaranteed the option to purchase it in the future. You will pay a slightly higher rent because a part of it will go to the down payment for the property if ever you decide to buy the house. However, there are cases where you can also decide to walk away from the property if you decide that you don’t want to grab it after all. Either way, you won’t be empty-handed. 


One of the biggest perks of investing in a rent to own house and lot for sale in Parañaque is to improve credit profiles. If your credit evaluation is too low to secure a loan, RTO is the match for you. While repairing your credit ratings, a portion of the rent you pay each month is credited against the down payment. This means that the rental period of the contract not only gives you time to save money, but actually helps you pay down some of the initial costs of buying the home.

A fair warning though: contracts usually do not accept late rent payments as a credit so be responsible in paying your monthly dues. 

Win-Win for Both Buyer and Seller

In this type of arrangement, both parties benefit. Buyers are able to acquire a home immediately and are given time to rebuild their credit. Sellers, whose property has been sitting in the market for a while, are able to generate income to pay off their mortgage and property taxes, as detailed by Zipmatch. This relationship should work well between a trustworthy seller and a responsible buyer.

Before setting out on your most exciting endeavor yet, make sure that you have your finances in order. Sure, it’s easy to move into a rent to own house and lot in Parañaque, but it always pays to have foresight. It’s the key to making an investment well worth every peso.

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