Rent to Own Homes in Pearl River
Pearl River is a rapidly growing community of about 2,550 residents who enjoy life in the Honey Island Swamp area. The nearby Pearl River provides much of the town’s... Read More
Pearl River is a rapidly growing community of about 2,550 residents who enjoy life in the Honey Island Swamp area. The nearby Pearl River provides much of the town’s recreation, from world-class freshwater fishing and swamp boat tours to kayaking and waterskiing. The river is one of the most diverse river systems in the country, supporting more than 130 freshwater fish species and providing nesting grounds for many bird populations.The below results are primarily rent to own homes in :
Pearl River is a rapidly growing community of about 2,550 residents who enjoy life in the Honey Island Swamp area. The nearby Pearl River provides much of the town’s... Read More
Pearl River is a rapidly growing community of about 2,550 residents who enjoy life in the Honey Island Swamp area. The nearby Pearl River provides much of the town’s recreation, from world-class freshwater fishing and swamp boat tours to kayaking and waterskiing. The river is one of the most diverse river systems in the country, supporting more than 130 freshwater fish species and providing nesting grounds for many bird populations.The below results are primarily rent to own homes in :
In addition to bountiful recreation, Pearl River residents also have access to well-regarded St. Tammany Parish Public Schools. Pearl River kids attend Riverside Elementary and Creekside Junior High just outside of the town limits, but Pearl River High School and Little Pearl Elementary are located directly in town. Pearl River Junior High was converted to the Pearl River police training academy when Creekside Junior High opened in 2003. The city of Pearl River provides a wide range of services for its residents, including utilities and police service. Until recently, the city was known for its long-serving Pearl River Chief of Police, Bennie Raynor, who held the position for more than three decades. The town’s history dates back to 1859 when it was established as a railroad junction. At that time, the town was named Halloo. The community experienced a number of name changes since its founding, changing from Halloo to Pearl in 1878, then to Pearlville in 1881 and finally to Pearl River in 1888. Today, locals and visitors can explore Pearl River’s long history at the Pearl River-Honey Island Swamp Museum and Research Center.
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
- 70452