Rent to Own Homes in Hillsboro
The county seat of Highland County, Hillsboro is located in southern Ohio. The town’s city limits encompass 5.43 square miles of land at the convergence of United States Highways 50 and 62, State Route 73 and State Route 138. This web of state and national highways places Hillsboro in a convenient location for traveling and commuting to a variety of Ohio towns.The below results are primarily rent to own homes in :
The county seat of Highland County, Hillsboro is located in southern Ohio. The town’s city limits encompass 5.43 square miles of land at the convergence of United States Highways 50 and 62, State Route 73 and State Route 138. This web of state and national highways places Hillsboro in a convenient location for traveling and commuting to a variety of Ohio towns.The below results are primarily rent to own homes in :
The town’s population was 6,605 at the time of the 2010 United States Census. Estimates by the United States Census Bureau since that time placed the city’s population at 6,580 in 2016. Local residents have a median household income of $33,051, according to the U.S. Census Bureau, with 2.21 people living in each household. The Census Bureau also reports that the median value of a home in Hillsboro is $85,000, and median gross rent is $632. The city is known for its postcard-perfect main square, showcasing the historic Highland County Courthouse building. It’s the oldest courthouse in continuous use in Ohio, an iconic red-brick structure with stately white columns and a gold-covered dome. Surrounding Uptown streets are filled with historic buildings housing boutiques, shops, restaurants and local services. Hillsboro kids attend public schools provided by the Hillsboro City Schools district. These schools include Hillsboro Elementary, Hillsboro Middle School and Hillsboro High School. Two private schools also operate within the city’s borders. Hillsboro Christian Academy provides instruction for kids from kindergarten through 12th grade. St. Mary Catholic Elementary School provides instruction for area children from kindergarten through 8th grade.
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
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
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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