Rent to Own Homes in Salem
Salem is a small town with fewer than 25,000 residents that sits just outside of Virginia's George Washington and Jefferson National Forest. It's located within Roanoke County and is less than 10 miles from the city of Roanoke. The town was once known for the Salem Flying Artillery, which defended the region from attack during the Civil War. Today,... Read More
Salem is a small town with fewer than 25,000 residents that sits just outside of Virginia's George Washington and Jefferson National Forest. It's located within Roanoke County and is less than 10 miles from the city of Roanoke. The town was once known for the Salem Flying Artillery, which defended the region from attack during the Civil War. Today, Salem is better known as home to Roanoke College and the Salem Red Sox baseball team, which was originally known as Salem Avalanche.
Some of the biggest Salem area attractions include Kids Square Children's Museum, Splash Valley water park, Thunder Valley amusement center and Salem Museum. There are also a variety of small parks in the area, including Green Hill Park. This expansive park offers plenty of green space for relaxation and exercise in addition to walking trails, multiple playgrounds, designated picnic areas and a scenic riverfront.The below results are primarily rent to own homes in Salem City City (County Equiv), VA:
Salem is a small town with fewer than 25,000 residents that sits just outside of Virginia's George Washington and Jefferson National Forest. It's located within Roanoke County and is less than 10 miles from the city of Roanoke. The town was once known for the Salem Flying Artillery, which defended the region from attack during the Civil War. Today,... Read More
Salem is a small town with fewer than 25,000 residents that sits just outside of Virginia's George Washington and Jefferson National Forest. It's located within Roanoke County and is less than 10 miles from the city of Roanoke. The town was once known for the Salem Flying Artillery, which defended the region from attack during the Civil War. Today, Salem is better known as home to Roanoke College and the Salem Red Sox baseball team, which was originally known as Salem Avalanche.
Some of the biggest Salem area attractions include Kids Square Children's Museum, Splash Valley water park, Thunder Valley amusement center and Salem Museum. There are also a variety of small parks in the area, including Green Hill Park. This expansive park offers plenty of green space for relaxation and exercise in addition to walking trails, multiple playgrounds, designated picnic areas and a scenic riverfront.The below results are primarily rent to own homes in Salem City City (County Equiv), VA:
While there are some small businesses and retail stores in Salem, many residents commute to Roanoke for employment. Some of the more prominent employers for the area include the U.S. Department of Veteran Affairs, the Yokohama Tire Corporation and the City of Salem.
Buying a Home in Salem?
While you will see some Salem residential properties selling for less than $100,000, the median listing price tends to stay closer to $200,000. The median price per square foot is often around $120, and prices may go significantly higher in select neighborhoods. Since more than 70 percent of residents own their homes in Salem, you can easily find established communities with a low ratio of renters. If you're shopping on a tight budget, consider the expense of renovating or repairing homes selling at the lowest prices. Not all homes in Salem are in move-in condition.
Buying vs Rent to Own Homes?
Have you seen signs for rent-to-own homes in Salem? These properties give you the opportunity to blend the benefits of renting with your dream of owning a home. You move into the home right away, but the current owner serves as your landlord. Your goal is to eventually purchase the property at a price that is agreed upon when you sign the contract. If you don't purchase the property within a specified period of time, you must move out of the home to give another buyer the chance.
Salem is a small town that gives residents easy access to a nearby national forest and the job market of Roanoke. This is a family-friendly community that features a variety of scenic parks as well as a children's museum and nearby water park. Many people have established roots in Salem and new generations choose to stay in town because they appreciate the beautiful scenery throughout the city as well as the affordable housing options.
Summary
Salem is a small town that gives residents easy access to a nearby national forest and the job market of Roanoke. This is a family-friendly community that features a variety of scenic parks as well as a children's museum and nearby water park. Many people have established roots in Salem and new generations choose to stay in town because they appreciate the beautiful scenery throughout the city as well as the affordable housing options.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
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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