Rent to Own Homes in Newark
The University of Delaware started out as Delaware College in the 1830s. This college was created by combining Newark Academy and Newark College, which were two of the first schools established in this area of Delaware. Delaware College became the property of the state in the early 1900s and was renamed the University of Delaware. The city is now home to more than 30,000 residents, and many of them come to town in search of higher education.The below results are primarily rent to own homes in New Castle County, DE:
The University of Delaware started out as Delaware College in the 1830s. This college was created by combining Newark Academy and Newark College, which were two of the first schools established in this area of Delaware. Delaware College became the property of the state in the early 1900s and was renamed the University of Delaware. The city is now home to more than 30,000 residents, and many of them come to town in search of higher education.The below results are primarily rent to own homes in New Castle County, DE:
Education for younger students in Newark is handled by the Christina School District and the New Castle County Vocational-Technical School District. There are more than five elementary schools, one middle school and three high schools serving the city today. The Delaware School for the Deaf serves children from kindergarten through 12th grade, and parents can choose to send their children to the Newark Charter School if desired.
The Chrysler Newark Assembly plant was once the city's main source of employment, but there are now many large companies bringing jobs to this area of Delaware. Some of the major employers now include DuPont, Dow, Siemens, Barclaycard and Hallmark Global Technologies Inc.
Buying a Home in Newark?
Median listing prices in Newark can jump well above $200,000 at times, but it isn't difficult to find homes selling for less than this figure in most areas of the city. The median cost per square foot is typically around $130, and the median home size is close to 2,000 square feet. If you're moving to the city with young children, keep in mind that many parents prefer the Newark Charter School to most of the city's public schools. Other popular options include Marshall Thurgood Elementary and Downes Elementary.
Popular Neighborhoods in Newark?
One of the leading Newark neighborhoods is located on the northern edge of the city. It's known as Meadow Brook or Corner Ketch and is positioned northeast of White Clay Creek State Park, mostly falling north of State Route 72 to the Delaware-Pennsylvania state line. You can expect to see real estate prices well over $400,000 in this area, and some of the city's largest and most luxurious properties are in this established community.
For lower real estate prices in a popular neighborhood, look in the Old Baltimore Pike area in the southern half of the city. This is a small community located north of the Christina River, east of Salem Church Road, south of Old Baltimore Pike and west of Walther Road. There are some large parks and recreational areas in this community, and you can expect to see real estate prices around $200,000.
Buying vs. Rent to Own Homes?
If you want to purchase a home in the Newark area, a rent-to-own home could give you the opportunity that you deserve. These homes allow you to rent the property that you intend to own one day. The rental period typically lasts for at least one year, but some contracts may give you even longer to secure a mortgage loan and purchase the home. If you're going to rent anyway, you might as well rent property that you can one day call your own.
Newark sits in the northwestern corner of Delaware and is less than a 30-minute drive from Wilmington. The city is also a short drive from Baltimore, Maryland, and two large parks that provide beautiful areas for outdoor recreation. There are many large corporations now offering jobs in this area of the state, and Newark is home to two facilities for higher education. The city also boasts a reputable public school system that includes a charter school and a school for the deaf.
Summary
Newark sits in the northwestern corner of Delaware and is less than a 30-minute drive from Wilmington. The city is also a short drive from Baltimore, Maryland, and two large parks that provide beautiful areas for outdoor recreation. There are many large corporations now offering jobs in this area of the state, and Newark is home to two facilities for higher education. The city also boasts a reputable public school system that includes a charter school and a school for the deaf.
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
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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