Rent to Own Homes in Brick
Brick Township is located in Eastern New Jersey along the United States’ Atlantic Coast about 50 miles east of Trenton. It is part of Ocean County. About 75,000 people lived in Brick Township at the time of the 2010 United States Census. About a fifth of the population is under the age of 18, and a quarter is between the ages of 25 and 44. Thirty percent of Brick’s residents are 45 and 64 years old, and 18 percent are 65 or older. The least-represented age group is 18- to 24-year-olds, at 7 percent of the town’s population.The below results are primarily rent to own homes in :
Brick Township is located in Eastern New Jersey along the United States’ Atlantic Coast about 50 miles east of Trenton. It is part of Ocean County. About 75,000 people lived in Brick Township at the time of the 2010 United States Census. About a fifth of the population is under the age of 18, and a quarter is between the ages of 25 and 44. Thirty percent of Brick’s residents are 45 and 64 years old, and 18 percent are 65 or older. The least-represented age group is 18- to 24-year-olds, at 7 percent of the town’s population.The below results are primarily rent to own homes in :
Brick Township’s municipal government provides a variety of services for citizens of all ages. In addition to necessities such as police and fire protection, the city also operates a senior outreach program and a teen activities center. The local library is a branch of the Ocean County Library system. The city also operates local parks, beaches and trails that provide ample outdoor recreation. Locals can play soccer at Drum Point Sports Complex, hone their tennis skills at Forge Pond, fish at Mallard Point and cycle along Sawmill Trail. In all, Brick residents have access to more than 15 parks and trails, four beaches and a marina. Public education is provided by Brick Public Schools, from preschool through 12th grade. The school district operates two high schools in town: Brick Township High School and Brick Memorial High School. There are also several private schools in Brick. Locals find out about local happenings and events via the daily newspaper, Asbury Park Press.
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
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
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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