{"id":8392,"date":"2019-01-03T09:32:53","date_gmt":"2019-01-03T09:32:53","guid":{"rendered":"http:\/\/www.mywedding.co.ug\/?p=8392"},"modified":"2019-01-03T15:20:40","modified_gmt":"2019-01-03T15:20:40","slug":"here-is-an-affordable-alternative-for-newly-weds-to-own-a-house","status":"publish","type":"post","link":"https:\/\/www.mywedding.co.ug\/?p=8392","title":{"rendered":"Here is an affordable alternative for newly-weds to own a house"},"content":{"rendered":"
By Shabibah Nakirigya<\/strong><\/section>\n
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After saying I do, what is left for newly wed couples is to set a home for their\u00a0 future. This does not come easy in an economy where real estate deals are expensive and couples have to save up a chunk of money to own something. For couples that have been trying to own a house but have no funding for the purchase, My Wedding brings you an alternative to achieving your dreams through a rent-to-own arrangement.<\/section>\n
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Rent-to-own is a type of legally documented transaction under which tangible assets like real estate are leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement. With this arrangement, you make a deal with the property owner that you will own a house after a certain time. Because you do not have the money at the moment, you pay a premium fee at the start and then rent for an agreed time, with the intention of finishing the full purchase when the date is due. Here is what you need to know about a rent-to-own arrangement.<\/section>\n
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Payment agreement<\/strong><\/p>\n

Jackson Mayanja, a property manager MTK Real Estate and Mining says, during the renting period, the tenant makes deposits to the landlords, and these payments usually reduce the money needed to buy the house at a later date. If the property owner is ready to sell out his or her property, the tenants get a deal to own the property without spending more money on property agents and managers.<\/p>\n

\u201cPayments can be done according to the agreement either in installments or full payment on the agreed date.
\n\u201cBoth tenants and landlords can benefit from these arrangements, but it is essential that everybody knows what the risks are before getting started,\u201d he says. Mayanja adds that to avoid any risk during purchase and sale, the tenant and landlord should complete the purchase more or less immediately after agreeing to terms at closing, but rent to own is different. With rent-to-own, the buyer can decide not to buy.<\/p>\n<\/div>\n

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Erias Nkoyoyo, an innovator, says: \u201cThe tenants may discover negative things you never knew about, and they may decide not to buy. It\u2019s advisable to hire innovators before making any deal,\u201d he says.<\/p>\n

Negotiable <\/strong>
\nMayanja says that process is similar to a lease option because they both involve contracts.
\n\u201cBoth the tenant and landlord agree to certain terms, and all of the terms can be changed to fit their needs, depending on what is important to both parties,\u201d he says.<\/p>\n

Mayanja adds that you can request certain features before signing an agreement. For example, you might request a larger or smaller up-front payment if that would be helpful for you. He advises that you hire the services of a real estate attorney to avoid getting cheated.\u00a0 He adds that several fraudsters take advantage of people short of funds and high hopes of buying a home.\u00a0 Click here to read more<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By Shabibah Nakirigya After saying I do, what is left for newly wed couples is to set a home for their\u00a0 future. This does not come easy in an economy where real estate deals are expensive and couples have to save up a chunk of money to own something. For couples that have been trying […]<\/p>\n","protected":false},"author":3,"featured_media":8393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[170],"tags":[1256,1254,1255,1258,1257,1253,1252],"ppma_author":[1785],"class_list":["post-8392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice","tag-erias-nkoyoyo","tag-jackson-mayanja","tag-mtk-real-estate-and-mining","tag-property-mamagers","tag-propety-agents","tag-real-estate","tag-rent-to-own"],"authors":[{"term_id":1785,"user_id":3,"is_guest":0,"slug":"enantambi","display_name":"Esther Nantambi","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/b1fa0f938f32d805446562e1bb7c32da6a6c7e51bd320fd89d4ba0819146b78d?s=96&d=mm&r=g","author_category":"","first_name":"Esther","last_name":"Nantambi","user_url":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/posts\/8392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8392"}],"version-history":[{"count":9,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/posts\/8392\/revisions"}],"predecessor-version":[{"id":8437,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/posts\/8392\/revisions\/8437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=\/wp\/v2\/media\/8393"}],"wp:attachment":[{"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8392"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mywedding.co.ug\/index.php?rest_route=%2Fwp%2Fv2%2Fppma_author&post=8392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}