Rent to Own Homes in Chalmette
Chalmette, Louisiana, is the parish seat of St. Bernard Parish and is located at the tip of the state's eastern "boot." The city has seen many difficult challenges since the arrival of Hurricane Katrina in 2005. In 2000,Chalmette's population was high at around 32 thousand people. In 2010, the population had dropped to 16.7 thousand. Today, the population has risen to a little over 20 thousand people, and it is likely to continue to see growth over the coming years. The city was named by plantation owner Louis-Xavier Martin de Lino de Chalmette for his great-grandmother Antoinette Chalmette. The word "chalmette" roughly translates to pasture in French, and was adopted at the family name of the primary plantation owner after the land was taken under the wing of Louis-Xavier and his family.The below results are primarily rent to own homes in :
Chalmette, Louisiana, is the parish seat of St. Bernard Parish and is located at the tip of the state's eastern "boot." The city has seen many difficult challenges since the arrival of Hurricane Katrina in 2005. In 2000,Chalmette's population was high at around 32 thousand people. In 2010, the population had dropped to 16.7 thousand. Today, the population has risen to a little over 20 thousand people, and it is likely to continue to see growth over the coming years. The city was named by plantation owner Louis-Xavier Martin de Lino de Chalmette for his great-grandmother Antoinette Chalmette. The word "chalmette" roughly translates to pasture in French, and was adopted at the family name of the primary plantation owner after the land was taken under the wing of Louis-Xavier and his family.The below results are primarily rent to own homes in :
During the War of 1812 (which lasted until 1815), Chalmette plantation became the staging ground for the Battle of New Orleans. The Chalmette battlefield saw a series of engagements between United States and United Kingdom military leaders between December 1814 and January 1815. Today, the battlefield is memorialized as a national monument with the Chalmette National Cemetery just next door. Chalmette High School, a part of the greater St. Bernard Parish Public Schools, was opened in 1954 and served as an emergency shelter during Hurricane Katrina. In 2009, after the devastation of the hurricane was repaired and life returned to normal, the school was awarded a bronze medal for its position as one of the best high schools in America.
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
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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