Lease options can be a great opportunity for those interested in buying a home but who are still cautious about the state of the real estate market or don’t have the best credit scores right now. So is a lease option for you? What is a Lease Option? A lease with option to purchase is essentially very similar to rent-to-own or seller financing. It involves two separate legal documents which enable those buying a home to get in to a great property now and rent it while reserving the right to buy it later, within a specified period of time. This often runs between 6 months and 3 years. What are the Advantages of Lease Options for Buying a Home? What to Watch Out For While lease options are very attractive for both those looking for a new residence and real estate investing they should be approached wisely. 4 things to look out for: