Rent to Own Homes in Lake Worth
Known for its 1,000 pastel-colored... Read More
Known for its 1,000 pastel-colored historic cottages, Lake Worth is a unique city in Palm Beach County. While many of the town’s 37,946 residents live in these charming cottages, many others enjoy the town's new homes. The median cost of a Lake Worth home is $151,500 and the median rent is $951, so housing is accessible to a wide variety of budgets.The below results are primarily rent to own homes in :
Known for its 1,000 pastel-colored... Read More
Known for its 1,000 pastel-colored historic cottages, Lake Worth is a unique city in Palm Beach County. While many of the town’s 37,946 residents live in these charming cottages, many others enjoy the town's new homes. The median cost of a Lake Worth home is $151,500 and the median rent is $951, so housing is accessible to a wide variety of budgets.The below results are primarily rent to own homes in :
Lake Worth Lagoon figures prominently in Lake Worth life. The lagoon stretches for 20 miles, from North Palm Beach to Boynton Beach and Ocean Ridge. Locals enjoy fishing and kayaking along Lake Worth Lagoon, which is home to numerous fish species, manatees, sea turtles and oysters as well as mangrove and seagrass habitats. Lake Worth Beach and pier offer additional entertainment, including shopping and dining. The lagoon was the main impetus for the town’s creation in 1885. Samuel and Fannie James were the first to settle here on what is the current 5th Avenue South. Fannie James also served as the town’s first postmaster. Residents and visitors can still see many of the town’s early buildings in and around downtown Lake Worth. Some of these structures, such as the Art Deco Lake Worth Playhouse remain a vital part of the community. Many locals enjoy heading to the playhouse to view vintage films and live theatrical performances as well as to celebrate local events. Lake Worth is a principal city of the Miami Metropolitan Area as one of the Palm Beach cities.
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
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
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.
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