Rent to Own Homes in Parma
Today, Parma is an ethnically-diverse city that is especially appealing... Read More
Today, Parma is an ethnically-diverse city that is especially appealing to young people in the 22-34 age bracket. According to recent studies, it is one of the top three locales of the Cleveland area where young people are choosing to live. The appeal could be attributed to many factors, one being that Parma has been ranked as the third safest city in the United States by population. The city is connected by a number of major roadways which include the Parma Plank Road and the Jennings Freeway.The below results are primarily rent to own homes in Cuyahoga County, OH:
Today, Parma is an ethnically-diverse city that is especially appealing... Read More
Today, Parma is an ethnically-diverse city that is especially appealing to young people in the 22-34 age bracket. According to recent studies, it is one of the top three locales of the Cleveland area where young people are choosing to live. The appeal could be attributed to many factors, one being that Parma has been ranked as the third safest city in the United States by population. The city is connected by a number of major roadways which include the Parma Plank Road and the Jennings Freeway.The below results are primarily rent to own homes in Cuyahoga County, OH:
At one time, the Parma City School District operated 24 campuses in the city and surrounding areas. While some of these have now been closed, the Parma City School District remains one of the most highly-rated in Ohio. Along with the Parma Medical Center, the PCSD is also one of the area's largest employers. Parma also has a significant historical district which includes the Parma Heights Cemetery and Henninger House.
Buying a Home in Parma
With all of its positive attributes, many might be surprised to learn that the median value of a home in Parma is just $112,300. This is well below the national median. The average monthly mortgage payment for homeowners in the city is $1,201. As one would expect, more than 66% of homes in Parma are owner-occupied. This speaks highly of the area's reputation as a great place to live and raise children.
Many homes in Parma are modern, with 70% of units being less than 25 years old. Because the city holds a strong appeal for families, over 70% of the housing units in Parma are medium-sized to large with three or more bedrooms.
Popular Neighborhoods in Parma
The W. Pleasant Valley Rd/York Rd neighborhood in Parma offers convenient access to local businesses, is very walkable, and is home to many middle-aged and older couples. The quiet surroundings and picturesque setting make this community a favorite for those looking to purchase a home. It is located on the city's southern border. The Snow Rd/S Park Blvd neighborhood in the northwest section of the city is another popular community which has a sizable population of single adults in the 18-29 age bracket. It is also chosen by many young married couples that are looking to start a family.
Buying vs. Rent to Own Homes
Buying a home in Parma or any other United States city is an exciting time, but it is also a time of anxiety for many first-time buyers that have concerns about being able to qualify for traditional financing. These individuals might wish to consider a rent to own home. These homes offer more flexibility, and a portion of the rent each month is applied to eventual ownership. Additionally, the rent on these units can often be less than the monthly cost of a mortgage.
Summary
Parma has been named one of the best places to raise children in Ohio, and it attracts many young married couples that are buying their first home. The city has also been ranked as one of the safest in the United States for its size, and the public school system receives high ratings. With its close proximity to Cleveland, Parma offers suburban living in the Rust Belt at its finest.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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.
- 44130
- 44134
- 44129
- 44131