Getting into real estate doesn’t always require that you have to get a mortgage or loan.  There are several ways that you can move outside of this option and into alternative resources for buying real estate.  One of the alternatives that are now popular is the rent to buy system.  This is designed to provide you with a new beginning to your home while working with financial flexibility.  However, before you decide to buy, you want to make sure that you find legitimate options for the rental agreement that you get into. 

1.  Term of contract.  Whenever you decide to rent to buy, you will be given a contract with general terms.  The term will begin with the duration that the rental is for.  Typically, this will last no more than five years and may end in as little as one year.  You want to make sure that this fits with your needs financially and with the living conditions you are in.  If you decide not to buy after this duration, then you may not be able to extend the contract or stay longer. 
2. Define monthly finances.  The monthly payments that are a part of the rent to buy program won’t just go into a landlord.  Instead, it will work as your downpayment or the overall payment of your home.  You want to make sure that this will go into the right holding area for the time you will buy the home.  More importantly, you want to make sure that this fits with your financial needs.  Typically, this agreement is flexible. 
3. Check the clauses.  Often, individuals that are selling homes will have alterations in the agreement over time.  For instance, there may be a balloon payment at the end of the contract which won’t allow you to make the necessary down payment on the home.  Others will use tactics that will make it difficult for you to continue the rental agreement.  You want to make sure that you are able to carry out with the duration of the contract while getting into the mortgage to buy the home with a smooth transition.