Rent-to-Own: Is it Right for You?
The consideration of whether you are better to rent-to-own your shed is a vital decision. Both options have their pros and cons. Your unique situation will determine which one you should select. However, there is actually a third option that is not spoken about as often, and that is rent-to-own.
Rent-to-own exists between renting and owning (eventually). Basically, you’ll make monthly payments for a set period of time after you’ve paid it off you have the option of owning the property, if you decide that you don’t want it, you don’t have to own the building.
How rent-to-own can be beneficial
With rent-to-own, you get the benefit of having the storage shed on your actual property. Unlike a typical storage facility that requires traveling, you’ll be able to easily access, your storage shed.
The rent-to-own option is also a fantastic option if you have poor credit, as there are no invasive credit checks. Making regular payments on your storage unit can actually serve to improve your credit score.
The potential uses you’ll have with a rent-to-own shed are extensive as well. If, for example, you are remodeling and need a place to store your belongings a storage shed in your property is ideal. If you decide that you would like your yard space back, you don’t have to claim the storage unit.
When rent-to-own is not beneficial
Rent-to-own is not the end all be all that it may appear to be, there are times you’ll want to consider other options. If you are able to pay for a shed, rent-to-own may not be the best option (because you can get better deals by just purchasing the shed).
If you have good credit and want to keep the building, it may be best to purchase the building if you can afford it. Financing your shed can also be a cheaper option in this situation as well.
Things to consider
If you can pay off your building early, you’ll save money in the long run. If you are opting for rent-to-own storage, shed, remember that you are responsible for the maintenance of the building. Learn more about your options or how we can help by calling us today?