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They planned to either buy the house or rent the house.
This is a transaction whereby you first pay rent and if you decide to buy it, then the amount you paid in rent goes toward the purchase price. This is kind of like a mortgage but minus the initial down paymentA rent to buy scheme is where someone pretends to let you rent their house to buy, but they have no intention of actually allowing you to own it in the end.
She bought it under a trust.
If you purchase a home you have to pay a mortgage which is a repayment of a loan you used to purchase the house. Paying rent is when you sighed a leasing agreement for an apartment you are renting.
It's far more practical to buy a house than to rent one in the long run. It's the short term (ie the money you have available right now) that makes buying a house difficult.
It depends many factors such as money you have, consistent money flow, whether you are going to stay permanantly in that place etc. If you got good amount of money and going to stay permanantely in that place better you buy the house otherwise better you rent a house.
It depends on your location. In some places home prices are actually down right now, so if you can afford to buy then go for it. It's better to pay a mortgage towards something you'll own oneday than pay rent on a house that's not yours.
You can rent, but cannot buy until you can be binded by contract.
You could obviously either buy a house for them or you can give them your house then you can buy one for yourself or you could build a house then you would not need to by anything.And the last option is rent a house then gather enough money to buy one or carry on renting and renting.
The only way to buy a house without having a loan is if you have enough money to pay for the house outright. Otherwise, the only other option would be to rent a house from someone rather than buy it.
If you buy a house, you can begin building equity and you have an investment that can be sold if you wish. Renting does not give you such benefits, but is nice if you need a short-term place to stay.
You usually sign an agreement when you rent the house that it is a "rent to own option" At the end of a certain period if you choose to buy, a percentage of the money that you have paid in rent will go to toward the purchase price. If you choose not to buy, it will be just like an ordinary rental agreement with the owner being that mcuh richer as far as the money you have paid in rent. Hope this helps.