Rent to Own Homes in Land O Lakes
The census-designated place (CDP) of Land O' Lakes, Florida, is located in central Pasco County along the western edge of the state's panhandle. The CDP population of Land O' Lakes is at 31 thousand people and the median income of residents is around $72.5 thousand. The average annual income of this area is the highest in Florida, and the name "Land O' Lakes" is a more recent addition decided upon in 1949. The Ehren post office adopted the new name a year later.The below results are primarily rent to own homes in :
The census-designated place (CDP) of Land O' Lakes, Florida, is located in central Pasco County along the western edge of the state's panhandle. The CDP population of Land O' Lakes is at 31 thousand people and the median income of residents is around $72.5 thousand. The average annual income of this area is the highest in Florida, and the name "Land O' Lakes" is a more recent addition decided upon in 1949. The Ehren post office adopted the new name a year later.The below results are primarily rent to own homes in :
Land O' Lakes has absorbed the nearby towns of Denham, Ehren, and Gowers Corner over the last couple of decades, and is currently a member of the Pasco County Library Cooperative. The city's branch is called the Land O' Lakes Branch Library and was added to the larger cooperative in 2008. The library is home to The Foundry, which is the first "makerspace" in the library district. The Foundry offers two 3-D Printers, Computer-Aided-Deisgn equipment, and a virtual reality system (called the Oculus Rift) for visitors to use. The library also sponsors the local high school robotics team. The city's education system is overseen by Pasco County School District, and includes seven elementary schools, two middle schools, two high schools, two charter schools, and two private schools. Thus, there are plenty of high-quality educational options for residents and their children to peruse.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
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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