Rent to Own Homes in Homestead
Homestead is a growing city that rests just east of the Everglades National Park on the southeastern tip of Florida. The city is approximately 20 miles north of key Largo and less than 10 miles across the Biscayne Bay from the Biscayne National Park. Miami is about 30 miles to the north, and driving north along the Atlantic coast for about one hour will take you to Fort Lauderdale. This gives Homestead residents a short commute to some of southern Florida’s most popular coastal attractions, including Miami Beach, Homestead Bayfront Park and Lakes by the Bay Park.The below results are primarily rent to own homes in :
Homestead is a growing city that rests just east of the Everglades National Park on the southeastern tip of Florida. The city is approximately 20 miles north of key Largo and less than 10 miles across the Biscayne Bay from the Biscayne National Park. Miami is about 30 miles to the north, and driving north along the Atlantic coast for about one hour will take you to Fort Lauderdale. This gives Homestead residents a short commute to some of southern Florida’s most popular coastal attractions, including Miami Beach, Homestead Bayfront Park and Lakes by the Bay Park.The below results are primarily rent to own homes in :
The City of Homestead is well known for its close proximity to the Homestead Air Reserve Base and the Homestead General Aviation Airport. The city was incorporated in 1913 and is now a part of Miami-Dade County. As of 2016, the city was home to nearly 40,000 residents. While the local economy is largely based on agriculture, there are also some jobs available in education, healthcare, retail and restaurant services. Additional employment opportunities are available for those willing to commute to Miami. Homestead students attend public schools maintained by the Miami-Dade County Public School District. There are more than 20 elementary and middle schools serving the city, and high-school students either attend Homestead High School or South Dade High School.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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