renting to own – Kelowna, British Columbia

Situated on the valley of Okanagan of British Columbia (B C) is the Kelowna city. It is ranked as the 22nd largest metropolitan city. On the north is Vernon, to the south is Summerland, Peach Land on the southwest and on the border line is lake country. The resorts in Kelowna are in walkable distance from the airport.

Kelowna resorts provide many sport activities such as skiing, golf, hiking and boarding. The resort offers the activities of the sport according to the climate. The resort Kelowna B C has a beautiful weather for vacation and for events. The resort in Kelowna is environed by vineyards and hills. The resort Kelowna offers facilities like spa for relaxation. Kelowna accommodation guidebook supplies a list of motels villas and hotels in Kelowna. You can find the details of a motel or hotel accommodations in Kelowna by browsing the guide book. Now booking of hotel accommodation in Kelowna B C is done online.

The Okanagan resort provides you with the best accommodation and facilities in Kelowna. The facilities provide in Okanagan resort Kelowna B C are waterfall, dance show, coffee shops, bars and fitness center. The Okanagan season resort Kelowna are famous for there seasonal activities. The Okanagan resorts are environed by Rocky Mountains and the wine fete is held every year. You can spend your day by watching the process of making wine from the vineyards. The wine factory at the valley of Okanagan has received international recognition. Kelowna’s wines are world wide winners for their wine.

The best place for enjoying is the lakeside resort in Kelowna. You can take the advantage of enjoying the food and spa. Apart from these one can also enjoys walking near the sea. The attractions offered by the resorts are party at night, sailing in the morning to watch the sunset, pools, surfing etc. For enjoying the holidays one can go to lakefront resort in Kelowna which is known as the best vacation destination. The available facilities for these resorts are fitness centre, bar, indoor and outdoor game room, pools, playground, Aqua Park etc. These resorts have a facility for sailing and ridding the boat in summer and skiing and boarding in winter.

An amazing view of Okanagan valley is seen from the cottage of lake resort in Kelowna. You can enjoy your holidays by going to lake resorts at Kelowna which is very quiet and peaceful. These resorts are less expensive and are best for relaxing. Because of its natural beauty the resorts have become very popular and there is competition between the resorts. The resorts in Okanagan valley is the best and perfect place for hosting a wedding. Vineyards can be turned into path where the brides walk down for the wedding.

Jackwilliam is an eminent analyst and writer in Travel and Tourism related topics. He has authored many books on tour guide for Kelowna Accommodation and Kelowna Resorts. Find more packages at www.manteo.com.

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As an alternative source of financing for your own home (when the bank say “not right now”), you should know what some of the pro’s and con’s are. Rent to own truly works best for those that understand how it will work for them (what is your “WHY?”) and are committed to making it work for them.

Pro’s of Rent to Own

1. You get to move into the home you want (you select the house) today instead of waiting until you can qualify for your own mortgage

2. You get the time to rebuild, repair or establish your credit

3. You have the necessary time to accumulate a bigger downpayment. Depending on the program is set up, you should be contributing to your downpayment each month, taking the burden off of you to save that money yourself. A portion of each months payment will be credited to your downpayment. For example, if your monthly payment is $2000 a month, rent could be $1500 (to cover the carrying costs on the property) while the other $500 would be credited to your downpayment

4. You get an instant equity stake in the house with your initial downpayment

5. You are considered the owner of the house; you maintain and repair the property AND have the ability to upgrade or improve the property which could result in an increased value for the house = more equity for you

6. All numbers, including what price you will pay for the house at the end of the program are agreed upon up front. No surprises for you after you have worked hard to qualify.

7. Your monthly payment is fixed, meaning it will not increase during the time you are in the program

8. You can receive incentives based on meeting outlined credit goals (you get paid to repair your credit)

9. You are protected by two agreements, one that protects you as a renter, one that protects you as the option holder to purchase the house at the end of the program

10. No fees (in the RIGHT rent to own arrangement)

Con’s of Rent to Own

Great, so there are plenty of pros. Are there cons? Sure there are but they aren’t all that different from having your own mortgage. These con’s have less power if you are committed to the process of improving your situation.

1. Your initial downpayment is non-refundable. Rent to own is a commitment just like having a mortgage. If you aren’t prepare to honour the commitment, don’t do it. Keep renting

2. If you don’t make your payments, you can be evicted which will result in your losing your downpayment

3. If you don’t do your homework and have your agreements reviewed by a lawyer, you could end up signing yourself into trouble. Always have a lawyer review your agreements (this does not only apply to rent to owns either)

4. If you don’t improve your credit so you can get a mortgage, you could end up having to leave the house at the end of the program resulting in losing your downpayment. Credit repair is also a commitment, be dedicated to work hard to improve your credit situation

5. If the numbers are not calculated fairly (based on the market), you could end up in a situation where the price of the house is set too high relative to the actual value of the home at the end of the program. Do your homework on the area you want to live in. Make sure you understand the numbers and that you approve of them before signing any agreements

6. Biggest con of rent to own is to do a “no-money” down rent to own but I won’t dive into this as I have touched on this topic before

More Information on Rent to Own

Hopefully this will help you determine the alignment between rent to own and your own “why” to renting to own.

If you are looking for more information, we have just launched our Rent to Own: Essential Guide for Homebuyers on Amazon. A Guide dedicated to helping people understand rent to own (in detail), how to protect themselves and how to actually secure a mortgage at the end of the program. Get more information at https://www.amazon.com/Rent-Own-Essential-Guide-Homebuyers-ebook/dp/B00JXUF2I8?ie=UTF8&keywords=rent%20to%20own%20essential%20guide&qid=1463616938&ref_=sr_1_1&sr=8-1

I am a real estate investor specializing in helping people get into home ownership through rent to own.

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