Can’t Afford a House? Here’s How to Successfully Rent-to-Own Instead


Purchase agreement

This type of contract, on the other hand, mandates you to buy the house at the end of the lease period. You cannot walk away from the contract and are legally obligated to buy the house, irrespective of your financial situation.

Generally speaking, a purchase option is better than a purchase agreement, since it gives you the choice to buy the house or not buy it, depending on your preference.