When you buy a home, you become the homeowner as soon as you close the sale. Buying a home outright typically requires that you have a lump sum of money to use for a down payment. With rent-to-own, homeownership is delayed. You pay rent for a certain amount of time before buying, with a portion of your rent being set aside monthly to go toward your down payment. You typically have to pay fees to the landlord, like an option fee. At the end of your rental agreement, you can either decide to buy the house or not, but you don’t become a homeowner until you complete the purchase.