Rent to Own Homes in Lisle
Lisle is located in northern Illinois, within the Chicago metropolitan area. Large corporate buildings dot the landscape of this DuPage County village, which is home to the North American headquarters for Millward Brown, Armour-Eckrich and Navistar. According to the United States Census Bureau, the population of Lisle is nearly 23,000 residents.The below results are primarily rent to own homes in :
Lisle is located in northern Illinois, within the Chicago metropolitan area. Large corporate buildings dot the landscape of this DuPage County village, which is home to the North American headquarters for Millward Brown, Armour-Eckrich and Navistar. According to the United States Census Bureau, the population of Lisle is nearly 23,000 residents.The below results are primarily rent to own homes in :
Lisle's establishment began in the 1830's. The first settler in the area that we now know as DuPage County and Lisle Township was a Quaker named Bailey Hobson. Shortly after, brothers James C. Hatch and Luther Hatch settled the town of Lisle and supported the area's early growth. James C. Hatch created the area's first burial ground, which is referred to as the historic Lisle Cemetery today. It is unclear how the town of Lisle received its name. Some speculate that the community was named after Chicago native S. Lisle Smith. The majority of families living in Lisle are served by the Lisle Community Unit School District 202. Most students living in Lisle complete their journey in public education at Lisle Senior High School. Lisle is well-connected to the city of Chicago, yet offers a vibrant downtown of its own with eclectic shopping and delectable dining in a pedestrian friendly, park-like setting.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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