Rent to Own Homes in East Stroudsburg
East Stroudsburg is a Monroe County borough on the eastern edge of Pennsylvania. It stretches north of Interstate 80 and is approximately 45 miles southeast of Scranton. Allentown is about 45 miles to the south, and New York City is about 75 miles to the east. The East Stroudsburg University of Pennsylvania is located in southern East Stroudsburg, and the borough is home to several community parks and recreation areas. This includes the Mattioli Recreation Center, Dansbury Park and part of Zacharias Pond Park.The below results are primarily rent to own homes in :
East Stroudsburg is a Monroe County borough on the eastern edge of Pennsylvania. It stretches north of Interstate 80 and is approximately 45 miles southeast of Scranton. Allentown is about 45 miles to the south, and New York City is about 75 miles to the east. The East Stroudsburg University of Pennsylvania is located in southern East Stroudsburg, and the borough is home to several community parks and recreation areas. This includes the Mattioli Recreation Center, Dansbury Park and part of Zacharias Pond Park.The below results are primarily rent to own homes in :
One perk to living in the East Stroudsburg area is the close proximity to large recreation areas suitable for athletics and outdoor relaxation. This includes Yetter Park, Terra Greens Golf Club, Brodhead Creek Park, Pinebrook Park and Creekview Park. Brodhead Creek runs along the western edge of the borough, and the southern end of the Worthington State Forest is approximately is less than a 30-minute drive to the south. The East Stroudsburg community was originally established near Brodhead Creek, which was originally known as Analomink Creek. James Monroe obtained 600 acres of land and started to settle the area in 1738. The borough was home to more than 1,000 residents in 1880, and the population grew to more than 10,000 residents by 2016.
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
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.
- 18301
- 18302