Rent to Own Homes in Hagerstown
Some of the biggest attractions in the Hagerstown area include the Hagerstown Aviation Museum, Hagerstown City Park, Chesapeake & Ohio Canal National Historical Park, Discovery Station and the Washington County Museum of Fine Arts. There are also some family-friendly entertainment venues in town, including Suns Municipal Stadium, Maryland Theatre and Leitersburg Cinemas. Residents of all ages also spend a lot of time at the Speedway, watching their favorite dirt track speedsters race for big prizes.The below results are primarily rent to own homes in Washington County, MD:
Some of the biggest attractions in the Hagerstown area include the Hagerstown Aviation Museum, Hagerstown City Park, Chesapeake & Ohio Canal National Historical Park, Discovery Station and the Washington County Museum of Fine Arts. There are also some family-friendly entertainment venues in town, including Suns Municipal Stadium, Maryland Theatre and Leitersburg Cinemas. Residents of all ages also spend a lot of time at the Speedway, watching their favorite dirt track speedsters race for big prizes.The below results are primarily rent to own homes in Washington County, MD:
Washington County Public Schools provides quality education for Hagerstown students. Older students have the option of attending South or North Hagerstown High School in town, several high schools accepting students in surrounding towns, or the local Evening High School. Other schools in the city include Antietam Academy and the Barbara Ingram School for the Arts. For higher education, adult students may attend Hagerstown Community College, Antietam Bible College, Mount Saint Mary's University, Kaplan University or the University Systems of Maryland. The city is also home to the first American campus for the India-based Vinayaka Missions University.
Buying a Home in Hagerstown?
If you want to buy a house in Hagerstown but need some help with the down payment and other financial matters, you may qualify for one of the assistance programs offered by the City of Hagerstown and other local organizations. The Maryland Mortgage Program could help you secure a low interest rate with no down payment due, and the Down Payment and Settlement Expense Loan Program could extend an interest-free loan to help cover your down payment. There are other programs available as well, but they each have their own restrictions and qualifications.
The median listing price in Hagerstown is often close to $200,000, but you can expect to see median sales prices closer to $150,000. It's common for buyers to pay just over $100 per square foot in the more desirable neighborhoods, but more affordable properties are available in some areas of town.
Popular Neighborhoods in Hagerstown?
If you love historic homes with preserved architecture or you want to live close to the Barbara Ingram School for the Arts and other entertainment venues, consider a home in downtown Hagerstown. You may also want to look just east of downtown in the Potomac-Broadway neighborhood. The homes are larger and more expensive in this area, but some are beautifully preserved and most sit on large lots.
If you're more concerned about a friendly community where you can raise a family, look to the Pangborn neighborhood. This area includes the City's Municipal Golf Course and Pangborn Park, and it's close to many shopping centers and schools.
Buying vs. Rent to Own Homes?
Do you intend to purchase property in Hagerstown within the next year or two? If so, you may consider rent-to-own homes a dream come true. This is a unique contract that allows you to rent the home that you intend to purchase in the future. You can spend your rental period preparing to apply for a mortgage loan, potentially improving your chances of qualifying for a lower interest rate. Your contract will give more details regarding the amount of time that you have to purchase the home.
Hagerstown is located in northwestern Maryland and is less than a three-hour drive from Baltimore, Washington D.C., Pittsburgh, Pennsylvania, and Richmond, Virginia. The city is well connected to surrounding states by two interstates and multiple state and U.S. routes, ensuring that residents have many options for short getaways and special entertainment. There are many parks, museums and entertainment venues within Hagerstown city limits as well, so there's no need to travel far for outdoor recreation, employment or entertainment.
Summary
Hagerstown is located in northwestern Maryland and is less than a three-hour drive from Baltimore, Washington D.C., Pittsburgh, Pennsylvania, and Richmond, Virginia. The city is well connected to surrounding states by two interstates and multiple state and U.S. routes, ensuring that residents have many options for short getaways and special entertainment. There are many parks, museums and entertainment venues within Hagerstown city limits as well, so there's no need to travel far for outdoor recreation, employment or entertainment.
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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