Rent to Own Homes in Ebensburg
Ebensburg is a borough in west-central Pennsylvania that is located off U.S. Route 22. This area is approximately 70 miles east of Pittsburgh, 50 miles north of Bedford and 45 miles south of Punxsutawney. Some of the biggest Ebensburg attractions include Lovell Park, Ebensburg War Memorial Field, Lake Rowena, Ebensburg Borough Swimming Pool, Cambria County Fair and Cambria County Courthouse. The borough fills less than two square miles within the Allegheny Mountains and is surrounded by Cambria Township.The below results are primarily rent to own homes in :
Ebensburg is a borough in west-central Pennsylvania that is located off U.S. Route 22. This area is approximately 70 miles east of Pittsburgh, 50 miles north of Bedford and 45 miles south of Punxsutawney. Some of the biggest Ebensburg attractions include Lovell Park, Ebensburg War Memorial Field, Lake Rowena, Ebensburg Borough Swimming Pool, Cambria County Fair and Cambria County Courthouse. The borough fills less than two square miles within the Allegheny Mountains and is surrounded by Cambria Township.The below results are primarily rent to own homes in :
The borough of Ebensburg was originally chosen by a congressional party as the site of a new colony. That was in 1796, and there were approximately 75 people residing in the area by 1810. The colony was incorporated as a borough in 1825, and the population surpassed 2,000 people by 1920. There were more than 4,000 residents by 1950, but the population reduced to approximately 3,000 residents by 2016. Today, Ebensburg is a part of Cambria County and is served by the Central Cambria School District. This public school system includes Cambria Middle School, Cambria High School and Cambria Elementary School. Students may also choose to attend one of two private schools, Holy Name Elementary School and Bishop Carroll High School.
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
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
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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