Rent to Own Homes in Aiken
The below results are primarily rent to own homes in Aiken County, SC:
Aiken is a small South Carolina city renowned for equestrian activities, beautiful views and arts activities. With a population of approximately 30,296, Aiken is one of the two major cities of the Central Savannah River Area and the center of Aiken County. The city was founded in 1835 around the South Carolina Canal and Railroad Company and named after the railroad’s president William Aiken.
Aiken enjoys milder, more comfortable temperatures than the rest of the state throughout the year. The temperate, warm weather may be one reason the city became a famous place for winter vacations for the nation’s elite, who historically flocked to the Aiken Winter Colony for cultural activities and beautiful, warmer winters than those found in the Northeast United States.
Aiken is host to a number of tennis, golf and country clubs and historic mansions. It is also the home of the University of South Carolina Aiken campus as well as historical museums, art centers, a planetarium and a music festival.
The city is perhaps best-known for its equestrian activities. The Aiken Steeplechase Association hosts annual races that draw more than 30,000 spectators each. Several polo fields are found in the city, and Thoroughbred horses are trained at the Aiken Training Track. The Aiken Thoroughbred Racing Hall of Fame and Museum pays tribute to equestrian accomplishments in the city.
Buying a Home in Aiken
Amid Aiken’s lush climate and equestrian activities is a family-friendly, affordable small city with close-knit community ties. The median value of a home in Aiken is $121,700, while the median list price of homes for sale in the city is $196,900. Home values have continued to rise over the past several years and are expected to continue on the same upward trend. The city offers some down payment assistance for qualified buyers of homes in certain areas of Aiken.
Popular Neighborhoods in Aiken
Some of the most popular areas in Aiken are on the Southside of the city. Aiken’s Southside is the major shopping area in Aiken County and hosts a major shopping mall, retail stores, chain stores and a large number of restaurants. Historic downtown Aiken is perhaps the most prestigious part of the city, with walkable small shops and restaurants easily at hand as well as a wide range of cultural activities. Houndslake and Woodside are both large residential neighborhoods on the southern side of the city, and both feature several golf courses.
Buying vs. Rent to Own Homes
You may be certain that you want to buy a home in Aiken but unsure that your credit score can garner you the best mortgage rates, or you may want to save up more money for your down payment. If you’re ready to make homeownership a reality but need some extra time to prepare, rent to own homes may be a great option for you and your family. You’ll negotiate the home purchase today, rent the home for a set period of time and then exercise your option to buy the home outright. You’ll contribute to the purchase price with part of your rental cost for the lease period. Rent to own homes may be just the way for you to make your permanent home in Aiken now.
Cost of Living in Aiken
Aiken offers a considerably lower cost of living than the United States average, at 15 percentage points under the national rate. With significantly lower-cost housing than the US average, costs in Aiken are only 64 percent of the average national price. However, housing isn’t alone in being a good deal in Aiken. Groceries, health, utilities and transportation costs all sit comfortably below national average prices in the city.
With amazing outdoor activities, cultural events and a bustling downtown, Aiken offers an active life for individuals and families of any age. The city has easy access to a major university and a wide range of activities in a famously beautiful and temperate climate. With strong schools and a close-knit community vibe, Aiken can be an excellent place to make a home for your family.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
Reported Annual Crime In Aiken