Rent to Own Homes in Festus
The average family size in Festus comes in at about 2.97, while the average household size is 2.45. This is nearly a whole point more than the United States average family size, and more than half of these homes in Festus are inhabited by nuclear family groups, giving the community a decidedly family-oriented personality. The city's neighbor, Crystal City, with its population of less than five thousand, has a slightly higher average family size of 3. Overall, the Twin City area is an ideal location for those families interested in small town living.The below results are primarily rent to own homes in :
The average family size in Festus comes in at about 2.97, while the average household size is 2.45. This is nearly a whole point more than the United States average family size, and more than half of these homes in Festus are inhabited by nuclear family groups, giving the community a decidedly family-oriented personality. The city's neighbor, Crystal City, with its population of less than five thousand, has a slightly higher average family size of 3. Overall, the Twin City area is an ideal location for those families interested in small town living.The below results are primarily rent to own homes in :
Festus is also the home of The Jefferson Leader, a newspaper that provides local news for and about the county as well as the greater Saint Louis area. The newspaper was launched in 1994 and is the only weekly newspaper in Jefferson County with four regional variants. Once again, this close-to-home type of small town business reflects the close community values that keeps Festus and its neighbors going strong in the modern world. Festus, Missouri, is a family-oriented, small town community nestled next to its sister city (Crystal City) along the banks of the Mississippi River in the eastern part of the state. Its small population and close community ties make this an ideal location for families to live and experience what small town hospitality and spirit really means.
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
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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