Rent to Own Homes in Centerville
Centerville lies in the western region of Ohio, approximately 15 miles south of Dayton. This warm and welcoming city is located mostly within Montgomery County, with a small section reaching into Greene County. According to the United States Census Bureau, the population of Centerville approaches 24,000 residents, with a population density at more than 2,000 residents per square mile.The below results are primarily rent to own homes in :
Centerville lies in the western region of Ohio, approximately 15 miles south of Dayton. This warm and welcoming city is located mostly within Montgomery County, with a small section reaching into Greene County. According to the United States Census Bureau, the population of Centerville approaches 24,000 residents, with a population density at more than 2,000 residents per square mile.The below results are primarily rent to own homes in :
Centerville Public Schools are operated by the Centerville City School District. The district is well-rounded, performing highly on state testing and achieving high ranks in athletics, music and visual arts. Advanced placement courses and opportunities to earn early college credit are offered at Centerville High School. With a vibrant downtown district, highly-regarded schools, an active parks and recreation department and plenty of opportunities for outdoor recreation, it's not surprising that Centerville is an attractive community for families who wish to live near Dayton. The United States Census Bureau reports the average family size as 2.78 members and the average household size as 2.19 members in Centerville. Evidence of Centerville's intricate past can be found with a stroll through the city's historic downtown. Residents can shop and dine at local establishments while admiring brick sidewalks and detailed architecture of a previous era.
Buying vs. Rent to Own Homes
When you rent to own, you pay an option fee and rent the home for up to three years while prepping for financing approval. Then, you buy it as soon as you’re ready. When you buy a home normally, you skip to the third step of the process.
Basically, when you’re almost ready to own a home, you should consider renting to own, but when you are ready, you should go ahead and purchase it.
Rent to own gives you more time to improve your credit score or save up a greater down payment in preparation for buying a house. Ultimately, rent to own is more expensive than outright buying a property because you’re paying rent to the owner every month. However, lease-options are a much better alternative than renting a property because you’re building some equity in the home, just not as much as you will once you purchase.
Once you own a home, you will likely be making monthly payments to a mortgage. Mortgage payments are typically around the same amount as rent to own payments, but all of it – minus interest, PMI and taxes – builds equity in the property, which directly benefits you.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
Sign up for one of our free listings so that potential buyers can find you when they look for rent to own homes near me online.
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