Rent to Own Homes in Independence
Independence lies in Northern Kentucky, 15 minutes south of Cincinnati, Ohio. It is a home rule-class city, which means that the city may have authority to exercise some governmental actions independently. According to the United States Census Bureau, the population of Independence is just over 27,000 residents.The below results are primarily rent to own homes in :
Independence lies in Northern Kentucky, 15 minutes south of Cincinnati, Ohio. It is a home rule-class city, which means that the city may have authority to exercise some governmental actions independently. According to the United States Census Bureau, the population of Independence is just over 27,000 residents.The below results are primarily rent to own homes in :
The area where Independence lies was donated to Kenton County by farmer John McCollum in the 1840's. The land was intended to serve as the county seat of the newly developed county. The United States Census Bureau reports the median income of households in Independence at slightly higher than $73,000 per year, which is significantly higher than the national average. Approximately 42% of residents are employed in manufacturing, retail and health care industries. Children living in Independence are served by the Kenton County School District. Three elementary schools, one middle school, one high school and Summit View Academy are located within Independence. Residents of Independence benefit from the amenities of Kenton County. The Kenton County Parks and Recreation Department operates seven parks that offer athletic fields, playgrounds, boating, fishing, hiking and plenty of green space for residents to enjoy. Unique programs for youth, teens and adults are available at the Independence branch of the Kenton County Public Library.
Buying vs. Rent to Own Homes
Renting to own a home and buying a house have the same steps, just on different timetables.
When you buy a house, you either pay with cash or you make monthly payments to a mortgage or some other kind of financing option for a set time frame.
When you rent to own a home you pay an option fee, which is later credited toward the purchase of the home, and then you make monthly rent payments until you’re sure you want to buy this house and you can secure financing. Then, you do the same things you would if you were buying a house – just make sure you do it before the end of the lease term so that you don’t lose any of the money you’ve negotiated.
When you can choose between the two, buying might be the right option because your monthly payments will go towards equity in a home as opposed to someone else’s pocket. However, lease-options get you to the same place with a little more time.
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
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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