Rent to Own Homes in Monroeville
Monroeville is located approximately 10 miles east of Pittsburgh in western Pennsylvania. Some of the biggest attractions for this city include the Monroeville Mall, Sky Zone Trampoline Park, Restland Memorial Park, Bellwood Park, Monroeville Community Park, Kelvington Park and Ferndale Park. The Monroeville Convention Center along with the local office parks and high-rise hotels may also serve as major attractions for businesses and professional events.The below results are primarily rent to own homes in :
Monroeville is located approximately 10 miles east of Pittsburgh in western Pennsylvania. Some of the biggest attractions for this city include the Monroeville Mall, Sky Zone Trampoline Park, Restland Memorial Park, Bellwood Park, Monroeville Community Park, Kelvington Park and Ferndale Park. The Monroeville Convention Center along with the local office parks and high-rise hotels may also serve as major attractions for businesses and professional events.The below results are primarily rent to own homes in :
The city that we now refer to as Monroeville was named after the area's first postmaster, Joel Monroe. This home-rule city is now a part of Allegheny County and was home to nearly 30,000 residents in 2010. The Monroe economy offers a variety of jobs in manufacturing, retail, healthcare and education. Residents can also commute to Pittsburgh to take advantage of additional employment opportunities. The average commute time for Monroeville residents is well under 30 minutes, and many enjoy a morning drive of no more than 10 minutes. Monroeville is home to the Western School of Health and Business, and younger students attend schools operated by the Gateway School District. This school system contains three public elementary schools, two public middle schools and Gateway High School. While all of these schools are located within Monroeville city limits, they also serve students from nearby Pitcairn. In 2010, the school system maintained a high school graduation rate of 92 percent.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
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
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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