Rent to Own Homes in Allentown
As one of the fastest growing regions in the United States, the Lehigh Valley encompasses several Pennsylvania and New Jersey towns. Some of the biggest Lehigh Valley towns include Easton, Allentown and Bethlehem.
Once the thriving center of anthracite production and its vital Lehigh Valley Railroad transport, the area is undergoing an exciting renaissance. The Lehigh... Read More
As one of the fastest growing regions in the United States, the Lehigh Valley encompasses several Pennsylvania and New Jersey towns. Some of the biggest Lehigh Valley towns include Easton, Allentown and Bethlehem.
Once the thriving center of anthracite production and its vital Lehigh Valley Railroad transport, the area is undergoing an exciting renaissance. The Lehigh Valley area is now known for its construction, education, health care, finance and information technology businesses as well as its many call centers. These industries are well served by the Lehigh Valley International Airport in Allentown, providing quick Lehigh Valley access to and from cities around the country.
Locals enjoy the area’s many services and entertainment, including shopping at Lehigh Valley Mall in Whitehall, minor league ball at Coca-Cola Park in Allentown and football games featuring Lehigh University and Lafayette College athletes. High school games among the Lehigh Valley conference are also very popular.The below results are primarily rent to own homes in :
As one of the fastest growing regions in the United States, the Lehigh Valley encompasses several Pennsylvania and New Jersey towns. Some of the biggest Lehigh Valley towns include Easton, Allentown and Bethlehem.
Once the thriving center of anthracite production and its vital Lehigh Valley Railroad transport, the area is undergoing an exciting renaissance. The Lehigh... Read More
As one of the fastest growing regions in the United States, the Lehigh Valley encompasses several Pennsylvania and New Jersey towns. Some of the biggest Lehigh Valley towns include Easton, Allentown and Bethlehem.
Once the thriving center of anthracite production and its vital Lehigh Valley Railroad transport, the area is undergoing an exciting renaissance. The Lehigh Valley area is now known for its construction, education, health care, finance and information technology businesses as well as its many call centers. These industries are well served by the Lehigh Valley International Airport in Allentown, providing quick Lehigh Valley access to and from cities around the country.
Locals enjoy the area’s many services and entertainment, including shopping at Lehigh Valley Mall in Whitehall, minor league ball at Coca-Cola Park in Allentown and football games featuring Lehigh University and Lafayette College athletes. High school games among the Lehigh Valley conference are also very popular.The below results are primarily rent to own homes in :
Buying a Home in Lehigh Valley?
A strong real estate market is the hallmark of Lehigh Valley towns. While fewer homes are on the market, home prices have increased by 2.8 percent over the past year. In spite of this increase, homes are still affordable here with half the homes listed for less than $185,000. Inventory has dropped more than 41 percent in the past year, though, so that slack in inventory may eventually cause prices to rise. Homes are selling rather quickly, too, often selling within 37 days of being placed on the market.
Buying vs. Rent to Own Homes ?
Homeowners who want to jump into Lehigh Valley’s home market before prices rise further might consider renting to own. Renting to own offers financial flexibility that a conventional home purchase does not. With a rent to own home, renters-buyers pay a nominal option fee to start the process instead of a conventional down payment. They then move into the home, making monthly rent payments for the duration of the contract. Part of the rent contributes to the buyer’s final purchase price. Since rent-to-own contracts usually last one to three years, buyers have time to coordinate a mortgage and save a bigger down payment.
Beautifully located to the south of the Poconos and west of the Delaware River, Lehigh Valley is rich in local recreation, resourceful residents and a growing employment sector. The area is also 80 miles from Philadelphia and 90 miles from New York City. The region’s expansion into new markets and industries provides many opportunities for residents, so Lehigh Valley is experiencing a resurgence in population and home sales. Home prices are still affordable here, though, so it’s a good time to explore living in Lehigh Valley.
Summary
Beautifully located to the south of the Poconos and west of the Delaware River, Lehigh Valley is rich in local recreation, resourceful residents and a growing employment sector. The area is also 80 miles from Philadelphia and 90 miles from New York City. The region’s expansion into new markets and industries provides many opportunities for residents, so Lehigh Valley is experiencing a resurgence in population and home sales. Home prices are still affordable here, though, so it’s a good time to explore living in Lehigh Valley.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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