Rent to Own Homes in Pelion
Pelion is a small town that stretches north of U.S. Highway 178 in central South Carolina. This area is approximately 20 miles south of Columbia, 50 miles north of Augusta and 100 miles northwest of Charleston. Residents willing to drive two to three hours can reach the Atlantic coast to vacation on the sandy shoreline. Some of the biggest coastal attractions include Myrtle Beach, Hilton Head Island and Kiawah Island.The below results are primarily rent to own homes in :
Pelion is a small town that stretches north of U.S. Highway 178 in central South Carolina. This area is approximately 20 miles south of Columbia, 50 miles north of Augusta and 100 miles northwest of Charleston. Residents willing to drive two to three hours can reach the Atlantic coast to vacation on the sandy shoreline. Some of the biggest coastal attractions include Myrtle Beach, Hilton Head Island and Kiawah Island.The below results are primarily rent to own homes in :
Pelion was named after Greece's Mt. Pelion. A post office was established in this region in 1900, and a community started to form around it. The town was officially incorporated in 1912 but has never progressed to become a city. Growth has been slow for this community over the years, and the total population in 2000 was less than 600. The town is now a part of Lexington County and the Columbia, South Carolina Metropolitan Statistical Area. As of the 2000 United States census, the median income per family and household in Pelion was over $40,000. While there aren't many large employers located within this small town, there are a variety of small service-related businesses offering some local jobs. Residents may also commute to surrounding cities for even more opportunities.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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