Rent to Own Homes in Salem
Salem is located in the northwest corner of South Carolina, approximately 40 miles west of Greenville. This Oconee County town may be small, but it brims with natural beauty and Southern charm. According to the United States Census Bureau, the population of Salem is nearly 150 residents. The population density of the town is also 150 residents, since its land area spans nearly one square mile.The below results are primarily rent to own homes in :
Salem is located in the northwest corner of South Carolina, approximately 40 miles west of Greenville. This Oconee County town may be small, but it brims with natural beauty and Southern charm. According to the United States Census Bureau, the population of Salem is nearly 150 residents. The population density of the town is also 150 residents, since its land area spans nearly one square mile.The below results are primarily rent to own homes in :
Recent data estimates the median income of households in Salem at $35,800 per year. Manufacturing, retail and mining industries employ approximately one-third of Salem residents. The United States Census estimates the average household size in Salem at just over 2 members per household. The average family size is slightly larger, at nearly 3 members per household, as reported by the United States Census. Children living in Salem are served by the School District of Oconee County. In recent years, the SDOC school board made the difficult decision to close Tamassee-Salem Middle/High School. Many of those students have now been redistricted to attend school in the neighboring community of Walhalla. Eagle Ridge, a charter school located in Salem, is also available as an option for students in middle and high school grades.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
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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