Rent to Own Homes in Newton
Newton is a growing city off U.S. Highway 70 in the western region of North Carolina. This location is also convenient to I-40, and I-77 is less than 30 miles to the east. The city is about 40 miles northwest of Charlotte, 65 miles southwest of Winston-Salem and 30 miles west of Morganton. Some of the recreational attractions within city limits include Southside Park, Westside/Jaycee Park, Northside/Broyhill Park and Newton City Lake. The Catawba County Museum of History, State Cinema, Pin Station and local farmer’s market are also main attractions for the city.The below results are primarily rent to own homes in :
Newton is a growing city off U.S. Highway 70 in the western region of North Carolina. This location is also convenient to I-40, and I-77 is less than 30 miles to the east. The city is about 40 miles northwest of Charlotte, 65 miles southwest of Winston-Salem and 30 miles west of Morganton. Some of the recreational attractions within city limits include Southside Park, Westside/Jaycee Park, Northside/Broyhill Park and Newton City Lake. The Catawba County Museum of History, State Cinema, Pin Station and local farmer’s market are also main attractions for the city.The below results are primarily rent to own homes in :
The city of Newton has experienced slow growth for more than 16 decades. The community was first established around the local courthouse in 1843. There were fewer than 100 people living in the area in 1850, and the town received its charter just five years later. The population reached 1,000 residents by 1890 and grew to more than 12,000 by 2000. In 2016, there were more than 13,000 people living in Newton. The economy in Newton once rested on the furniture and textile industries. There are now jobs available in a variety of industries, and some residents commute to nearby cities for additional employment opportunities.
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
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
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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