Features of rent-to-own agreements
In recent years, more and more people in Spain are choosing to rent with the option to buy the property later. This approach allows tenants to live in their selected apartment or house while a portion of their monthly payments goes toward the future purchase. The parties agree in advance on the terms: the amount of the monthly payment, how expenses are divided between the owner and the tenant, and the amount of the initial deposit. Typically, this deposit is about 10% of the property’s value. The contract specifies what portion of the rental payments will be credited toward the final purchase. In the first years, the entire amount is often credited; later, this drops to 70β80%. There is also a set period during which the tenant must decide whether to buy, for example, five years. If the deal does not go through within this time, the deposit is not refunded.
Benefits for future homeowners
This format is beneficial for those planning to buy a home but do not yet have the full amount. First, tenants can save part of the funds while living in the selected apartment. Second, it gives the opportunity to fully evaluate the pros and cons of the property before making a purchase. Additionally, the amount needed for a mortgage decreases since part of the price has already been paid. The price is fixed at the time of contract signing, protecting buyers from market price increases. The tenant has a preferential right to purchaseβthe owner cannot sell the apartment to someone else, even if a better offer arises. In some cases, it is possible to use government programs for rental or purchase support.
Examples of offers in different regions
In the municipality of FondΓ³n (AlmerΓa), a townhouse is available for 500 euros a month. The initial payment is 10,000 euros. The house measures 172 sq. m, with three bedrooms, three bathrooms, a terrace, and a balcony. The total cost is 180,000 euros, and it must be purchased within two years. All rental payments will be counted towards the final settlement.
In Montilla (province of CΓ³rdoba), a fully renovated apartment can be rented for 500 euros a month. It has an area of 65 sq. m, three bedrooms, and one bathroom. The sale price is 85,000 euros, the down payment is 6,800 euros, and the purchase period is two years. After all payments are deducted, the final amount will be 66,200 euros.
In Manzanares (Manzanares), Ciudad Real, a nearly new duplex is available for rent at 550 euros per month. The apartment is on the second floor with an elevator, has an area of 147 sq. m, four bedrooms, two bathrooms, a terrace, and a parking space included in the price.
In Torrijos (Torrijos), province of Toledo, a three-level townhouse with an area of 218 sq. m is available for rent. The house features five bedrooms, four bathrooms, and a plot of 105 sq. m. Rent is 800 euros per month, with an advance payment of 30,000 euros. All payments will be deducted from the final purchase price of 189,500 euros.
Geography of offers
Such schemes are available not only in small towns, but also in major urban centers. Rent-to-own options can be found in Madrid, Barcelona, Valencia, Marbella, Malaga, Alicante, Seville, Granada, Murcia, Torrevieja, Benidorm, as well as other regions of the country. This format makes it possible to find housing in different price ranges and locations, taking into account individual needs.
