Rent to Own Homes in Merritt Island
Merritt Island is a census-designated place located along the Atlantic coast of Florida, in an area also known as the Space Coast. It is less than 20 minutes from the sparkling shoreline of Cocoa Beach and just over an hour from the upbeat vibe of Daytona Beach. It is also one short hour away from the popular attractions of Orlando.The below results are primarily rent to own homes in :
Merritt Island is a census-designated place located along the Atlantic coast of Florida, in an area also known as the Space Coast. It is less than 20 minutes from the sparkling shoreline of Cocoa Beach and just over an hour from the upbeat vibe of Daytona Beach. It is also one short hour away from the popular attractions of Orlando.The below results are primarily rent to own homes in :
Merritt Island has a population of approximately 34,000 residents. Merritt Island High School and Merritt Island Public Library are located in the central area, along with several businesses and restaurants. South Merritt Island is primarily a residential area. Merritt Island is actually a peninsula linked to surrounding land by causeway. The Merritt Island Causeway provides convenient access to the cities of Cocoa and Cocoa Beach. The Merritt Island Airport provides aviation services to Brevard County. Commercial airlines do not service the Merritt Island Airport. Kennedy Space Center is located on uninhabited North Merritt Island. Merritt Island residents can experience a day at the visitor complex learning about the past, present and future of space travel. North Merritt Island is also home to the Merritt Island National Wildlife Refuge. The refuge provides a habitat for native wildlife and serves to protect endangered and threatened species. Visitors to the Merritt Island National Wildlife Refuge can enjoy hunting, fishing, education programs and simply observing the diverse wildlife.
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
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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