Rent to Own Homes in Haysville
every year the Haysville Fall Festival is held to celebrate the community's pastThe below results are primarily rent... Read More
every year the Haysville Fall Festival is held to celebrate the community's pastThe below results are primarily rent to own homes in :
every year the Haysville Fall Festival is held to celebrate the community's pastThe below results are primarily rent... Read More
every year the Haysville Fall Festival is held to celebrate the community's pastThe below results are primarily rent to own homes in :
present and future." Haysville is a moderately sized town in the suburbs of Wichita, Kansas. The city is located in Sedgwick County with a population of around 11 thousand people. According to the United States Census Bureau, the city covers approximately 4.62 square miles. The average household size in Haysville is 2.78 and the average family size is 3.18. The city was originally founded in 1891 by W.W. Hays
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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