Rent to Own Homes in Castle Hayne
Castle... Read More
Castle Hayne is located in New Hanover County near the southern border with South Carolina. While locals mounted a campaign to incorporate Castle Hayne as a city in 2011, the town remains unincorporated and a census-designated place. It encompasses 2.3 square miles of land and has 1,256 residents, according to the United States Census Bureau. Just 11 miles north of Wilmington, Castle Hayne is part of the larger Wilmington Metropolitan Statistical Area of more than 282,000 people.The below results are primarily rent to own homes in :
Castle... Read More
Castle Hayne is located in New Hanover County near the southern border with South Carolina. While locals mounted a campaign to incorporate Castle Hayne as a city in 2011, the town remains unincorporated and a census-designated place. It encompasses 2.3 square miles of land and has 1,256 residents, according to the United States Census Bureau. Just 11 miles north of Wilmington, Castle Hayne is part of the larger Wilmington Metropolitan Statistical Area of more than 282,000 people.The below results are primarily rent to own homes in :
According to local historians, Castle Hayne was the first bedroom community of Wilmington. It was settled mostly by Dutch immigrants who farmed the land around the Castle Hayne railroad depot. That farming and agriculture industry and culture remain an important part of Castle Hayne today. The town’s connection to Wilmington also remains strong. Many residents enjoy Wilmington’s ample jobs, cultural activities and advanced educational opportunities. They also enjoy Castle Hayne’s quiet, rural-suburban lifestyle, where everyday amenities are readily available in town such as nationally known pharmacies, fast food restaurants and gas stations. Getting around the region and traveling to other, more distant areas are convenient from Castle Hayne. Several United States interstate freeways are nearby, including Interstate 40 and Interstate 140. United States Highway 117 runs through the center of town, providing additional travel routes. Residents of Castle Hayne enjoy a relatively high salary rate, reporting an average income of $74,622. This local average income is considerably greater than the United States average income of $62,175.
Buying vs. Rent to Own Homes
Rent to own gives you anywhere between a few months and three years time to prepare for buying a home. It’s more costly than buying outright because you’ll be paying rent to the owner instead of building equity by paying off the mortgage; but, it’s much better than renting because you have the option to buy and stop the rent payment process whenever you’re ready.
Lease-options help set you up for a home purchase in the not-so-distant future.
That’s not to say that because you aren’t ready to buy you should rent to own. If you need more than three years before you’re ready to purchase a home, you shouldn’t rent to own. Instead, you should wait until you’re at least less than three years away from qualifying to buy a home before signing your lease-option because, if the lease term ends and you’re not ready to buy, you’ll lose the money you invested in an option fee and any other money you’ve negotiated from the seller.
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
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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