#RENTTOOWN Just got off the phone with a client. They asked my opinion on a rent-to-own program ---- There are really 3 important factors to keep in mind with these programs. 1. Whats the agreed future selling price (is it real market value) 2. What rent is being charged (how much above market rent are you paying) 3. Upfront deposit required? In this particular case, because the home had a suite, the company was trying to sell affordability vs price. Most would say, wow… if I rent the suite, then my share is only x amount. What they failed to realize is that they just paid WAY over market price for the home in the first place. I recommended that my client simply invests in an RRSP program. She can then withdraw it at a later date for a REAL purchase.
Posted on: Wed, 19 Mar 2014 22:42:42 +0000
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