Rent to Own Homes in Morrisville
Morrisville is a small town that spreads south from the intersection of Interstates 540 and 40 in east-central North Carolina. Lake Crabtree and Lake Crabtree County Park are located just outside the town’s eastern border, and Prestonwood Country Club runs along the southern tip of town limits. Other natural attractions in this region of the state include Fred G. Bond Metro Park, Cary Tennis Park, Thomas Brooks Park, North Cary Park and Brier Creek Reservoir.The below results are primarily rent to own homes in :
Morrisville is a small town that spreads south from the intersection of Interstates 540 and 40 in east-central North Carolina. Lake Crabtree and Lake Crabtree County Park are located just outside the town’s eastern border, and Prestonwood Country Club runs along the southern tip of town limits. Other natural attractions in this region of the state include Fred G. Bond Metro Park, Cary Tennis Park, Thomas Brooks Park, North Cary Park and Brier Creek Reservoir.The below results are primarily rent to own homes in :
The Raleigh-Durham International Airport is located just north of Morrisville. Some of the biggest attractions within town limits include Shiloh Park, Church Street Park, Western Wake Farmer’s Market, Morrisville Community Park and the Indian Creek Greenway and Trailhead. Morrisville was originally established as a stopping point for the North Carolina Railroad and established a population of more than 160 residents by 1880. The community struggled with growth, but the population boomed to more than 1,000 residents by 1990. There were more than 18,000 residents in 2010, and the population increased to nearly 25,000 people by 2016. The town is now home to some major employers, including Lenovo, Credit Suisse, Spectrum and NetApp. Some of the more prominent industries for the town include communications, healthcare, networking and computer technology.
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
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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