Rent to Own Homes in Andover

In recent days, the area has seen a lot of modern development and the city has struggled to maintain its more historic, rural areas. On such area holds the Colburn/Cutter House which is almost three centuries old (dating from around 1717) and has long served as the host site of the annual Dracut Craft Fair. The city is also home to the Dracut School Department which oversees six public schools: Greenmont Elementary School, Campbell Elementary School, Brookside Elementary School, Engelsby Elementary School, Richardson Middle School, and Dracut Senior High School. The city also operates a separate special education school for more specialized learning opportunities.

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

You can plan a party without an event planner, you can go swimming without a lifeguard, and you can rent to own without a realtor.

That’s important because there isn’t as much money for realtors in rent to own deals as in traditional sales. Therefore, finding a realtor to help you is rare.

While the listed activities might be easier with a professional, they’re all possible without one. To successfully rent to own without a realtor learn all you can about it.

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.