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Rent to Own Homes in Ohio
The below results are primarily rent to own homes in :
The state of Ohio is located in the northern region of the United States, cradled between Indiana and Pennsylvania with West Virginia and Kentucky bordering to the south. There are three primary cities where many residents find employment: Cleveland, Columbus and Cincinnati. Cleveland is located along the shores of Lake Eerie in the north while Columbus marks the center of the state. Cincinnati is in the southwestern corner near the Indiana border.
Columbus is the Ohio state capital and home to the Ohio General Assembly. This is the state legislature that consists of the Ohio House of Representatives and the Ohio Senate. The city is best known as home to the Ohio State University (OSU), which is located in the north along the Olentangy River. Football fans across the state cheer on the OSU buckeyes every year, attending games and wearing scarlet and gray to show their undeniable support for their local college team.
The Ohio River runs through Cincinnati as well as four other surrounding states. The region around this river is known as the Ohio Valley and provides locals many opportunities for outdoor recreation. Though the name suggests that the region is located within Ohio, it actually includes portions of five states, including Ohio.
Buying a Home in Ohio
The Ohio Housing Finance Agency offers the First-Time Homebuyer Program to help low-income residents make the leap from renter to homeowner. In order to qualify for the program, you must have a credit score of at least 640, use an approved lender and purchase property within designated areas of the state. This places limitations on the homes that you may purchase while accepting assistance from this program, but it is a valuable resource if you need help securing your down payment.
Ohio also protects buyers by requiring sellers to disclose certain facts regarding the condition of a home through the Residential Disclosure Law. While you should always have a thorough inspection completed prior to purchasing a home, this disclosure is particularly helpful when purchasing a previously owned home.
Popular Neighborhoods in Ohio
It’s easy to pick out large cities like Cincinnati and Columbus when moving to Ohio, but some of the best neighborhoods are located in smaller cities. If you enjoy the charm of small town life and are searching for a safe place to raise your children, Bryan is the perfect city. Few violent crimes are committed here, and most parents would agree that the public schools are exceptional. Madeira is another small town with the same perks for families.
If you need to live close to a big city because of your job or in order to maximize employment opportunities, look to the suburbs for safe communities with reasonably priced homes. For instance, the Cleveland suburb named Olmsted Falls is often listed as one of the best places to live in the state due to its walkability and the presence of a popular historic shopping district. This suburb is also one of the safest areas in the state.
Buying vs. Rent to Own Homes
You will typically pay less for housing in Ohio when you become a homeowner. Rent prices are often high in the most desirable neighborhoods, but you can find reasonably priced homes in almost every region of the state. If you don’t have the down payment or credit history needed to qualify for a mortgage loan right now, you can always rent to own.
This is a special agreement that allows you to move into a property as a renter while maintaining the right to purchase the property in the future. You can work on improving your credit or establishing other qualifying criteria while you rent, and some contracts set part of your rental fees aside so that you can use those funds for your down payment. This is a less stressful path to home ownership.
Cost of Living in Ohio
The overall cost of living in Ohio is more than 10 percent lower than the national average. This is largely a reflection of the low cost of housing, which is more than 30 percent lower than the national average. All other expenses are comparable to the national average, but some cities are more affordable than others. If you can get a low price on your home, you can expect your overall budget to remain reasonable in all parts of this state.
Ohio is a Midwestern state located on the southern edge of Lake Eerie. While residents enjoy a lot of snow and cold weather in the winter, the summers are warm and all four seasons are represented each year. There are several large cities offering a lot of employment opportunities, but some of the safest communities are located in small towns spread throughout the state. Most residents enjoy cheering on the Ohio State Buckeyes during the football season, and the Ohio State University attracts a lot of new residents of college age.