Rent to Own Homes in Rocky Point
Rocky Point is a census-designated, unincorporated community that sits approximately 20 miles from the Atlantic coast in southeastern North Carolina. There were more than 9,000 people residing within the community in 2016. The location allows those residents to enjoy a commute time of 30-60 minutes when visiting some of the best beaches in the Carolinas, including Wrightsville Beach, Topsail Beach and Carolina Beach. Bald Head Island is about a two-hour drive to the south.The below results are primarily rent to own homes in :
Rocky Point is a census-designated, unincorporated community that sits approximately 20 miles from the Atlantic coast in southeastern North Carolina. There were more than 9,000 people residing within the community in 2016. The location allows those residents to enjoy a commute time of 30-60 minutes when visiting some of the best beaches in the Carolinas, including Wrightsville Beach, Topsail Beach and Carolina Beach. Bald Head Island is about a two-hour drive to the south.The below results are primarily rent to own homes in :
Most Rocky Point residents appreciate the small-town lifestyle that comes with an unincorporated community with just a few traffic lights. There are approximately 75 people per square mile, and the median age of the population is around 40. While there aren't many job opportunities within the community, residents enjoy a short commute time to larger cities with thriving economies. For instance, Wilmington is approximately 15 miles to the south. This community is a part of Pender County and the Wilmington Metropolitan Statistical Area. The area is convenient to Interstate 40 and North Carolina Highway 117, so the residents are easily connected to surrounding areas. The community is served by the Rocky Point Fire Department, the Pender County Sheriff's Office and a small public school system that includes two elementary schools, one middle school and one high school.
Buying vs. Rent to Own Homes
When you rent to own, you pay an option fee and rent the home for up to three years while prepping for financing approval. Then, you buy it as soon as you’re ready. When you buy a home normally, you skip to the third step of the process.
Basically, when you’re almost ready to own a home, you should consider renting to own, but when you are ready, you should go ahead and purchase it.
Rent to own gives you more time to improve your credit score or save up a greater down payment in preparation for buying a house. Ultimately, rent to own is more expensive than outright buying a property because you’re paying rent to the owner every month. However, lease-options are a much better alternative than renting a property because you’re building some equity in the home, just not as much as you will once you purchase.
Once you own a home, you will likely be making monthly payments to a mortgage. Mortgage payments are typically around the same amount as rent to own payments, but all of it – minus interest, PMI and taxes – builds equity in the property, which directly benefits you.
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
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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