Rent to Own Homes in Harrodsburg
Harrodsburg is a small city in central Kentucky that is located just off U.S. Routes 68 and 127. State Route 152 also helps keep residents connected to surrounding communities like Shakertown and Burgin. Perryville is about 10 miles to the south while Lexington and Frankfort are both about 30 miles to the north. This places residents within a one-hour drive of two larger cities with a variety of entertainment, education and recreation opportunities.The below results are primarily rent to own homes in :
Harrodsburg is a small city in central Kentucky that is located just off U.S. Routes 68 and 127. State Route 152 also helps keep residents connected to surrounding communities like Shakertown and Burgin. Perryville is about 10 miles to the south while Lexington and Frankfort are both about 30 miles to the north. This places residents within a one-hour drive of two larger cities with a variety of entertainment, education and recreation opportunities.The below results are primarily rent to own homes in :
Some of the biggest attractions in the Harrodsburg area include the Bright Leaf Golf Course, Harrodsburg Lions Community Center, Old Fort Harrod State Park, Young Park, Mercer County Fairgrounds and Anderson Dean Community Park. There are also some interesting small businesses that bring some attention to the city, including the Rags to Riches Antique Center and Flea Mall. The Peninsula Golf Resort is about a 30-minute drive to the east. There were fewer than 100 residents in the Harrodsburg area in 1800, but the population grew to more than 5,000 residents by 1950. There were just over 8,000 residents in 2010, and the population grew slightly to nearly 8,500 by 2016. Students in this area attend schools maintained by the Mercer County School District, which includes a technology center and early learning center.
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
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
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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