Rent to Own Homes in Lacey
Lacey is a growing city that touches the southern shore of the Puget Sound’s Nisqually Reach in western Washington. This location is just west of the Nisqually National Wildlife Refuge, and there are multiple lakes within city limits or nearby. This includes Pattison Lake, Long Lake, Hicks Lake, Chambers Lake and Southwick Lake. Along with the city’s parks and golf courses, these lakes provide many options for outdoor recreation in the Lacey area.The below results are primarily rent to own homes in :
Lacey is a growing city that touches the southern shore of the Puget Sound’s Nisqually Reach in western Washington. This location is just west of the Nisqually National Wildlife Refuge, and there are multiple lakes within city limits or nearby. This includes Pattison Lake, Long Lake, Hicks Lake, Chambers Lake and Southwick Lake. Along with the city’s parks and golf courses, these lakes provide many options for outdoor recreation in the Lacey area.The below results are primarily rent to own homes in :
Some of the most popular natural recreation areas within or surrounding Lacey include Wonderwood Park, Chambers Lake Park, Rainier Vista Community Park, Wanschers Park, Woodland Creek Community Park and Capitol City Golf Club. Olympia is less than five miles to the west, Tacoma is about 25 miles to the northeast and Capitol State Forest is about 20 miles to the northeast. The city is a part of Thurston County and grew from fewer than 7,000 residents in 1960 to approximately 50,000 residents in 2017. The land that is now occupied by the City of Lacey was first settled in the early 1850s. It was originally called Woodland, but the name Lacey was later chosen in honor of Justice of the Peace O.C. Lacey. The city was incorporated as a city in 1966.
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
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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