An opportunity to own your own house and lot is such a wonderful chance that anyone would like to have.
Nowadays there are properties offered in lease to own contracts particularly house and lot. Usually this is part of the government agency programs to alleviate the living standard of the people especially to those who find it hard to buy their own property.
The same as other contracts the lease purchase agreements have requirements although it is offered to less fortunate families that find it hard to buy their own properties but they still need to be qualified for the requirements that the government agency requires. Some of the requirements may include your capacity to pay the rent which in length of time you can own the property however you still need to prove that you can afford the rent and still manage to live comfortably with the remaining money left after the rent was taken. If it was offered to married couples the agency may require both salaries every month and how are they going to manage the other expenses of the families? Sometimes they will require the computation of all the expenses around the house including health allowances or insurance and if with children it will require the educational plan of the children and savings. Before the couple given the chance they need to prove they can afford it which means some couple who cannot manage will be rejected and cannot have the opportunity to own a property.
This is a good program by the government to offer to its citizen however if they failed to be qualified they can appeal to the next offer of the government that requires less qualification such as housing programs. There is a little difference with lease to own because housing properties are house and lots that to be built by developer and the qualified citizen need to buy the property from the developer at the cheaper price compare in the real estate that the developer constructed for rich citizens who can afford to live in a higher standard of living.
Governments usually look upon its citizens that are less fortunate to have their own properties and conduct different programs to give opportunities to people who likes to own their own properties. All people dream to own their own house and lot and live comfortably but with the current recession of economy it is hard to achieve such dreams and loans must be the last thing to consider as with the interest they are going to pay it may worsen the problem and end up cannot own the property and left to have more unpaid loans to attend to. In which people do not like to experience the opportunity of lease to own is the best thing that the government can offer to its citizens.
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