Rent to Own Homes in Bay Minette
The U.S. Census Bureau reports that 8,044 people make their homes in Bay Minette’s 8.6 square miles. The city’s convenient location and its easy access to highways like Alabama State Route 59 are part of its ample appeal.The below results are primarily rent to own homes in Baldwin County, AL:
The U.S. Census Bureau reports that 8,044 people make their homes in Bay Minette’s 8.6 square miles. The city’s convenient location and its easy access to highways like Alabama State Route 59 are part of its ample appeal.The below results are primarily rent to own homes in Baldwin County, AL:
In addition to its own plentiful recreation and entertainment, Bay Minette is close to a host of fun and interesting locations. Camping and boating on the Tennessee-Tombigbee River, or Tenn-Tom, is less than an hour away. Boating, biking and birdwatching are nearby, too, on Mobile Bay.
Buying a Home in Bay Minette?
The average home in Bay Minette is fairly affordable, selling for $118,400. This compares to the county home value of $194,00. Even with relatively affordable prices, though, homeownership may be out of reach for some area residents. Fortunately, there are a variety of homebuying and homeownership assistance programs for locals. Alabama, for instance, offers its Step Up program to provide down payment assistance and low fixed-rate interest mortgages for some homebuyers. The state also gives mortgage credit certificates to qualified prospective homebuyers.
Buying vs. Rent to Own Homes?
It can be tough to come up with a house down payment while trying to save up for moving expenses. It becomes even more difficult when you add in the stress of finding and securing a mortgage and negotiating the home purchase itself. Renting to own a home removes many of these obstacles and difficulties, allowing you to move through a home purchase at a more comfortable pace. With this process, once you coordinate with the home seller, you can move into your home right away. Instead of a down payment, you’ll likely pay a smaller option fee. Then, you’ll make monthly rent payments plus a nominal rent premium that is credited to your purchase price. It's a terrific way to ease into homeownership.
Conveniently located near Alabama’s south coast, Bay Minette offers residents plenty of perks. It’s near some of the United States’ best beaches, outdoor recreation sites and cities, but it gives residents a quiet, small-town home. Buying a home in Bay Minette is often affordable, too, with home prices ranging well below county and state averages. From golf courses to a busy swimming pool complex, locals find much to love about Bay Minette.
Summary
Conveniently located near Alabama’s south coast, Bay Minette offers residents plenty of perks. It’s near some of the United States’ best beaches, outdoor recreation sites and cities, but it gives residents a quiet, small-town home. Buying a home in Bay Minette is often affordable, too, with home prices ranging well below county and state averages. From golf courses to a busy swimming pool complex, locals find much to love about Bay Minette.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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