Rent to Own Homes in Arden
Located in southern Buncombe County, Arden is an unincorporated community in western North Carolina. Arden’s boundaries are generally thought to extend from Skyland on the north to Fletcher and the Henderson County line on the south. Arden shares a zip code with the nearby unincorporated community of Oak Park and the Royal Pines and Avery Creek census-designated places. There are about 20,000 residents in the Arden zip code.The below results are primarily rent to own homes in :
Located in southern Buncombe County, Arden is an unincorporated community in western North Carolina. Arden’s boundaries are generally thought to extend from Skyland on the north to Fletcher and the Henderson County line on the south. Arden shares a zip code with the nearby unincorporated community of Oak Park and the Royal Pines and Avery Creek census-designated places. There are about 20,000 residents in the Arden zip code.The below results are primarily rent to own homes in :
Named for the Shakespearean Forest of Arden in “As You Like It,” Arden is 14 miles from Asheville, and it’s included in the Asheville Metropolitan Statistical Area. This proximity to Asheville is convenient for commuters. Even with Asheville so close, though, residents find a variety of services in their own backyards. Most of Arden’s public amenities are provided by Buncombe County. Lake Julian Park is a county-operated park in Arden popular for its 4th of July Fireworks display and its Christmastime Festival of Lights. Locals also enjoy the strenuous two-mile hiking trail at Collier Cove Nature Preserve, fishing and picnicking at Corcoran Paige River Park and boating at Glen Bridge River Park. Buncombe County Schools operates Arden’s public school, Glen Arden Elementary. Glen Arden Elementary is a kindergarten-to-fourth-grade school known for its global focus and Spanish immersion program. The school also partners with NC Arboretum to offer kids a robust composting, gardening and recycling education.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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.
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