Rent to Own Homes in Orange
Orange continued to grow during the antebellum era, and some of the buildings built during that time survive to this day. They... Read More
Orange continued to grow during the antebellum era, and some of the buildings built during that time survive to this day. They comprise the Orange Commercial Historic District, which encompasses a total of 61 buildings listed on the National Register of Historic Places. The Sparks Building (1829) and St. Thomas Episcopal Church (1833) have their own separate listings. In 1890 the name was officially changed to Orange.The below results are primarily rent to own homes in Orange County, VA:
Orange continued to grow during the antebellum era, and some of the buildings built during that time survive to this day. They... Read More
Orange continued to grow during the antebellum era, and some of the buildings built during that time survive to this day. They comprise the Orange Commercial Historic District, which encompasses a total of 61 buildings listed on the National Register of Historic Places. The Sparks Building (1829) and St. Thomas Episcopal Church (1833) have their own separate listings. In 1890 the name was officially changed to Orange.The below results are primarily rent to own homes in Orange County, VA:
It was an important railroad hub in the late 19th century, but that began to fade in the early 20th century. However, because two important roadways connected there, and in 1910 the Orange Automobile Club was established, the town became an important regional center for auto sales and service.
The Town of Orange is home to about 5,000 people. It’s nearly equidistant from the state capital of Richmond (75 miles) and the nation’s capital, Washington, D.C. (87 miles).
Buying a Home in Orange
The median home price in Orange is about $142,000, which is 24 percent below the national average. Current listings in the area range from $115,000 to $349,000. Homes east of town on Lake Anna or with large parcels of land can be significantly more. About 53 percent of the residential real estate is owner occupied. The cost of living in Orange is about 4 percent below the national average.
The median age of the town’s residents is 39.5, and about 45 percent of the population is married. The median family income is approximately $49,500.
The Orange County School System serves the town, which is comprised of a primary school, five elementary schools, two middle schools, and a high school. An elementary school and the high school are within the city limits.
Buying vs. Rent to Own Homes
Orange may already sound like a place you’d like to settle. Buying a home, however, can be long, expensive process, and a significant amount for a down payment and prequalification are necessary. If you don’t have that kind of cash available or think you won’t qualify for a loan, a rent-to-own arrangement may work for you. A portion of each month’s rent is applied toward a down payment to buy the home. It doesn’t require a large outlay of cash. And those who rent can look forward to becoming proud homeowners!
Summary
Situated in the Piedmont Region of Virginia, the area is characterized by rolling hills and fertile soil. Orange is far enough away from large metropolitan areas to still have a quiet, small-town feel. A mild climate, with high temperatures of 44 in January and 87 in July, makes it a pleasant place year round. And if you need a taste of big city life, both Richmond and Washington, D.C. are less than two hours away.
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
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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