Sometimes rent to own in Detroit can be the only option for some people. And a land contract home down in Detroit isn’t a bad idea if you have the down payment for a low rent payment.
The rent to own break down in Detroit MI
Homes down in Detroit are still at a low bid price so if you can get a house for around 17k and put 3k down for the payment. You will be looking at a rent payment of around $390 a month.
You want to keep that payment structure around 3.5 years and after that you will own the house out right.
Finding the rent to own listings in Detroit MI
Now to start the process of looking at rent to own homes in the Detroit area you need to get connected with a listing agent in Detroit. So they can send you all the listings that would make the best sense for you to purchase.
Rent to own in Detroit MI or land contract homes are a great way to get into a house and still be building on your credit. The main focus needs to be the contract you work up with the seller of the home.
The down payment options for a home in Detroit MI
The larger the down payment on the home is the better your monthly payments will be for the home. When your looking to do rent to own your looking at the house as an investment not just a place to live you want to call it your own.