Rent to Own Homes in Cuyahoga Falls
Cuyahoga Falls is located in northeastern Ohio, approximately 35 miles south of Cleveland. This location is just south of the Cuyahoga Valley National Park and the Boston Mills and Brandywine Ski Areas. Other attractions in this region of the state include Sand Run Metro Park, Hampton Hills Metro Park, O’Neil Woods Metro Park, Silver Lake Country Club, Brookledge Golf Club and Munroe Falls Metro Park. These attractions allow residents to enjoy outdoor activities year-round.The below results are primarily rent to own homes in :
Cuyahoga Falls is located in northeastern Ohio, approximately 35 miles south of Cleveland. This location is just south of the Cuyahoga Valley National Park and the Boston Mills and Brandywine Ski Areas. Other attractions in this region of the state include Sand Run Metro Park, Hampton Hills Metro Park, O’Neil Woods Metro Park, Silver Lake Country Club, Brookledge Golf Club and Munroe Falls Metro Park. These attractions allow residents to enjoy outdoor activities year-round.The below results are primarily rent to own homes in :
Residents of Cuyahoga Falls can reach Akron in approximately 10 minutes and the Akron Fulton International Airport in under 20 minutes. The area was originally known as Manchester and was founded in 1812 by William Wetmore. The name Cuyahoga Falls was later chosen in honor of the Cuyahoga River and the waterfalls that rest on the southern edge of the city. Oil, flour and saw mills were among the first businesses in the city, but residents now find employment in a variety of industries. Many also take advantage of the short commute to Akron when looking for jobs. In 1860, there were approximately 1,500 people residing within Cuyahoga Falls city limits. The population grew quickly, surpassing 10,000 residents in 1920. In 2017, there were nearly 50,000 Cuyahoga Falls residents.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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