Rent to Own Homes in Austintown
Austintown is a census-designated place (CDP) in Austintown Township, Mahoning County, Ohio. The Austintown CDP is located in the northeastern part of the state and has a population of around 30 thousand people. The United States Census Bureau measures the total area of the Austintown CDP at around 11.7 square miles.The below results are primarily rent to own homes in :
Austintown is a census-designated place (CDP) in Austintown Township, Mahoning County, Ohio. The Austintown CDP is located in the northeastern part of the state and has a population of around 30 thousand people. The United States Census Bureau measures the total area of the Austintown CDP at around 11.7 square miles.The below results are primarily rent to own homes in :
Founded in 1793, the area that is now known as Austintown was originally known as the Connecticut Western Reserve in northeastern Ohio. Eventually, Austintown (and other areas in the Reserve) were singled out, and the city was named for Western Reserve Judge Calvin Austin. The city has one elementary school, one intermediate school, one middle school, and one high school, Austintown Fitch High School. All four schools are overseen by the Austintown Local Schools district. Austintown Fitch High School is a part of the larger Ohio High School Athletic Association and a member of the All-American Conference. The school is also known for its Latin Club (part of the larger Ohio Junior Classical League) and Speech and Debate Team, which won a number of state championships in the 1990s. A few notable alumni from the high school include Mike Trgovac (Green Bay Packers defensive line coach), Jeff Wilkins (former St. Louis Rams NFL placekicker), Mike McGlynn (Indianapolis Colts NFL offensive guard), and Billy Price (Cincinatti Bengals NFL center).
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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