Should you rent to own your next home?

By: Jody Mabry
Estimated Completion Time
4 min
Should you rent to own your next home?
Image: Shutterstock

About This Quiz

Owning your home is the dream of many adults, but what happens when you love the home you are renting? The choice for many is seeking a rent-to-own home where you have the option to purchase your rented home after several years. Curious about whether you should rent to own? Take this quiz to see if this is the right option for you.
How long would you like to live in your home?
At least ten years.
Less than three years.
Three to five years.
No idea.

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Do you have or are you planning to have children?
I have more than two kids.
None and not interested.
I have one.
None, but we are planning.

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How much savings do you currently have?
Over $50,000.
$2.41.
Between $5,000 and $10,000.
Between $10,000 and $50,000.

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If you won $100,000 in the lottery, what would you do with it?
Put it toward buying a home.
Buy an awesome car.
Pay off some debts.
At least half would go toward buying a home; the rest would be for bills and maybe a nice vacation.

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How important is your home's location?
The home is more important than the location.
It's the most important thing.
As long as there is plenty to do in my neighborhood, I'm cool.
As long as there are good schools and the area is safe, the location doesn't matter.

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How well do you budget your money?
I'm very good with money.
Budgeting is not my thing.
I don't have enough money to budget.
I don't budget, but am still good with my money.

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Do you need to test drive cars before you buy them?
Always.
Nope. I know what I'm buying when I go to the dealership.
Depends on what I am looking for.
No, but I like to for fun.

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How long have you been at your current job?
Five to ten years.
Less than a year.
Almost five years.
Over 20 years.

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What do you think about your job?
I enjoy my work.
I hate it.
I'm not a fan but it pays well and has good benefits.
I do what I enjoy and have been around for awhile.

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Which range does your credit score fit?
700+
600 to 700
500 to 600
Don't ask.

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Do you pay your bills on time?
Always.
Never.
When I have the money.
If I remember.

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Not including your vehicle, how much debt do you have?
Less than $2,000.
Over $20,000.
$2,000 to $10,000.
$10,000 to $20,000.

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Why do you want to own a home?
Because the home will be mine.
I'm not sure if I want to own.
So I can tear down walls.
It makes financial sense.

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What is your ideal home and graden type house?
Victorian.
I'm more of a condo person.
Craftsman style.
Modern with historic charm.

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What do you think the biggest benefit of renting to own is?
I get to know the home's nuances before owning.
I don't have to spend time looking for houses.
I don't need to move.
I'm not sure yet.

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Do you enjoy going to open houses?
Sometimes.
Yes.
I think it's creepy to walk through someone's home.
Yes, it helps with research.

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Do you think renting to own is a good deal?
It can be.
Not really.
Depends on my negotiation skills.
It could be a waste of money.

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How long do you think you should rent before buying?
Five or more years.
Three years.
At least one year.
I don't think it matters.

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Do you like your landlord?
Yes.
Not particularly.
I guess. I never really see them.
I've had one or two run-ins.

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Do you enjoy moving?
I hate it.
I love moving.
I don't have an opinion on moving.
Moving is not my favorite, but I'll do it for the right place.

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What is your relationship status?
Married.
Single.
I'm in a serious relationship.
Dating, but not serious.

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How long have you really been looking into purchasing a home?
Since I left high school.
A couple months.
A few years.
Over five years.

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How many years have you been renting?
Over 15.
10 to 15.
5 to 10.
Less than five.

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Have you ever owned a home before?
Yes, a few.
Never.
No, my credit wasn't very good at the time I was interested.
Yes, once, but I was too irresponsible then.

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What is most important to you in your neighborhood?
Good schools.
Is there a bar close by?
Safety.
Home value growth.

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How old are you?
40+.
I'm in my thirties.
I'm in my twenties.
No comment.

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Do you own a pet?
I own a dog.
I own multiple animals.
I'm a cat person.
I'm still weighing the pros and cons of owning a pet.

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Which of these is your first priority?
A specific salary.
Having children.
Getting married.
Owning a home.

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What kind of lifestyle do you live?
I'm a family person.
I like to par-tay!
I'm a homebody.
I'm a workaholic.

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Are you renting your dream home?
Yes.
Not even close.
That's a good question.
No, but it's a nice home.

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You Got: