Is house leasing a good idea or not ?

dora2505

We do not have enough deposit for a house we like and the large reputable estate agents is working with the builders and offers a house leasing scheme. Ideally we could afford the deposit in 3 years and they said we can lease until 3, 5, 10 years its up to us.
We havnt had a meeting with them yet, we will do so next week but please can anyone give us advice of if it is a good idea and what the pitfalls are.
I know nothing about this and cant find any good answers on the net
Thanks a lot

G_M

dora2505 wrote: »

We do not have enough deposit for a house we like and the large reputable estate agents
surely a contradiction of terms....?
is working with the builders
cosy!
and offers a house leasing scheme.
soundslike a nice commission-earner for them
Ideally we could afford the deposit in 3 years and they said we can lease until 3, 5, 10 years its up to us.
We havnt had a meeting with them yet, we will do so next week but please can anyone give us advice of if it is a good idea and what the pitfalls are.
I know nothing about this and cant find any good answers on the net
Thanks a lot

I don't know the details. I can see that
a) you get to move into your 'dream home' now with the option to buy later
b) you don't need to move in 3(5/10) years when you buy

but I am in no doubt that this will be an expensive arrangement. One way or another both the builders and the agent (and some shadowy [insurance?] company) will be getting a good cut out of this postponement of purchase.

Why not rent, save, and then buy.

There will still be houses for sale of the sice, style, location you want.