Rent to Own Homes in Latham
Latham is a small unincorporated area or hamlet on the eastern edge of New York State. It’s a part of a suburban town known as Colonie and is about 12 miles north of Albany in Albany County. Before settling under its current name, this region was known as Town House Corners and Latham’s Corners. This second name was in honor of William G. Latham. In the name of Jonas Yearsley, the area was once known as Yearsley’s.The below results are primarily rent to own homes in :
Latham is a small unincorporated area or hamlet on the eastern edge of New York State. It’s a part of a suburban town known as Colonie and is about 12 miles north of Albany in Albany County. Before settling under its current name, this region was known as Town House Corners and Latham’s Corners. This second name was in honor of William G. Latham. In the name of Jonas Yearsley, the area was once known as Yearsley’s.The below results are primarily rent to own homes in :
The hamlet was once known for the Latham Circle Mall, which was originally located on the western edge of the unincorporated area. Today, there are more than 20,000 residents within the hamlet along with some outdoor recreation areas that encourage a healthy lifestyle. Some of the region’s biggest attractions include Albany Pine Bush, Peebles Island State Park, Rensselaer Lake, Waterford Historical Museum and Cultural Center and the Children's Museum of Science and Technology. While these venues aren’t all within the hamlet, they are in the general area. Latham rests just west of the Hudson River and is just off U.S. Route 9. Other major roadways in the area include State Route 7 and Interstate 87. This makes it easy for residents to commute to Albany and other surrounding communities for employment and entertainment.
Buying vs. Rent to Own Homes
There are a few situations in which rent to own makes sense when you have the option to purchase. A good situation to rent to own is when you’re not sure about a home you’re looking at buying, and you want to test it out for a bit before making a final decision. This way, you have less money on the line if you change your mind.
Renting to own is also a good option if you’re close to qualifying for financing, but you need a little bit more time to get there.
Renting to own doesn’t trap you in a lease like normal renting does – you can buy the home whenever you’re ready. That’s why it’s the good option if you almost have a large enough down payment, if your credit score is close to where you need it to be or if you just need a little more time at your job to build your job history. It also works when you’re waiting for your old home to sell so that you have the cash to purchase your new home.
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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