Rent to Own Homes in Hershey
Hershey CDP (census-designated place) is located in Eastern Pennsylvania, approximately 30 minutes east of Harrisburg. Nicknamed The Sweetest Place on EarthThe below results are primarily rent to own homes in :
Hershey CDP (census-designated place) is located in Eastern Pennsylvania, approximately 30 minutes east of Harrisburg. Nicknamed The Sweetest Place on EarthThe below results are primarily rent to own homes in :
Hershey is most well-known as a resort area. According to recent data, the population of Hershey is just over 14,000 residents. As many already know, The Hershey Company headquarters are located in Hershey, Pennsylvania. The Hershey Company, founded by Milton S. Hershey, manufactures time-honored treats such as Hershey's Kisses and the Hershey Bar. In addition to being a successful businessman, Milton S. Hershey was also known for being a generous philanthropist. He founded the Milton Hershey School in 1909 as a place for orphans to live and learn. The Milton Hershey School is still in operation today, providing a home and quality schooling to children of low-income families. Hershey Entertainment and Resorts Company employs many Hershey residents and owns several popular local attractions including the famed Hersheypark. The company also owns Hersheypark Stadium, Hershey Arena, ZooAmerica North American Wildlife Park and several hotels and spas within the community. Extreme chocolate lovers can experience all things chocolate with a visit to Hershey's Chocolate World. In addition to tours and tastings, Hershey's Chocolate World offers many seasonal events to ensure that residents have a new experience with each visit.
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
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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