Unconventional Home Ownership Options

The most traditional form of home ownership is to own both a house and the land upon which it is built. Those who can't afford houses, or who do not want to be bothered with outside maintenance and upkeep, may purchase condos or townhouses. However, there is another home ownership option: buying only the home and leasing the land it occupies. To learn more about this option, check out Should You Buy Property On Leased Land?

Another way to buy a home when you can't quite afford it is with a lease option. If you're at a place in your life where you'd really rather not be living in an apartment but you don't have the money to buy a home yet, an in-between option can get your foot in the door faster. Before you consider this type of arrangement, you should be aware of how it works, who benefits and the many things that can go wrong. Learn about the pros and cons in Get Your Foot In The Door With Rent-To-Own.

Photo by MGShelton

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