However, I believe the majority of people dread having to deal with investment matters, and tend to jump into purchases and then hold their breath hoping for the best. After a long day at work and taking care of the family, it's hard to get excited about reading up on your 401(k) options, Morningstar ratings and fund performances.
Ed Legzdins, President and CEO, BMO Mutual Funds suggests that, for many investors, a continuous purchase plan "just makes good sense" and he urges investors to talk with an investment professional to get a better understanding of how these plans work. "An investment professional can explain the benefits of investing regularly, and demonstrate how this can help you achieve your goals," he said.
If they don't exercise their option to buy within the time period allotted, the option monies and any payments made toward the house are forfeited.
Surprisingly, I have found that only a small percentage of Lease Option buyers will actually exercise the option. (50%-60%) I cover this material in detail in my book.