Rent to Own Homes in Hollidaysburg
Hollidaysburg is located in the western half of Pennsylvania, less than 10 miles south of Altoona. This Blair County borough lies along the Juanita River and features a vibrant historic district. According to the United States Census Bureau, the population of Hollidaysburg is more than 5,700 residents.The below results are primarily rent to own homes in :
Hollidaysburg is located in the western half of Pennsylvania, less than 10 miles south of Altoona. This Blair County borough lies along the Juanita River and features a vibrant historic district. According to the United States Census Bureau, the population of Hollidaysburg is more than 5,700 residents.The below results are primarily rent to own homes in :
Hollidaysburg operates according to a council-manager government. The Borough Council consists of seven members and is responsible for creating and enforcing community policies, setting local taxes and balancing the borough's budget. The Hollidaysburg Historic District is centrally located and serves as a hub of activity for the borough. The Historical and Architectural Review Board and the Borough Council are committed to ensuring that the district maintains its nostalgic character. The Hollidaysburg Historic District, Blair County Courthouse and Highland Hall are all listed on the National Register of Historic Places. Residents of Hollidaysburg can step out into the fresh Pennsylvania air with several local parks conveniently located within the community. Picnic areas, scenic gardens, playgrounds and trails are offered throughout the borough. The Canal Basin Park is home to the Sylvia Schraff Amphitheatre and the Anne Sloan Borland Performing Arts Pavilion. These local gems host widely popular cultural programs and entertainment throughout the summer months.
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
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
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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