Rent to Own Homes in Sidney
Sidney stretches out around the intersection of Interstate 75 and Ohio Route 47 in west-central Ohio. Dayton is approximately 35 miles to the south, and Columbus is about 70 miles to the southeast. Fort Wayne and Indianapolis, Indiana, are both less than a two-hour drive from the center of town. This location keeps residents well-connected to surrounding communities, opening up many options for employment, entertainment and outdoor recreation.The below results are primarily rent to own homes in :
Sidney stretches out around the intersection of Interstate 75 and Ohio Route 47 in west-central Ohio. Dayton is approximately 35 miles to the south, and Columbus is about 70 miles to the southeast. Fort Wayne and Indianapolis, Indiana, are both less than a two-hour drive from the center of town. This location keeps residents well-connected to surrounding communities, opening up many options for employment, entertainment and outdoor recreation.The below results are primarily rent to own homes in :
Named after poet Sir Philip Sidney, this small town was founded on literary appreciation. Many schools within the Sidney City School District are named after well-known authors, and the town was once featured in a film. As of the 2010 census, there were approximately 21,000 people residing within city limits. This represents a growth of approximately 1,000 people since the year 2000. Downtown Sidney has been revitalized in recent years, including a project to bring the Historic Sidney Theatre back to life. Sidney is now a part of Shelby County and hosts many employers offering jobs in the manufacturing, healthcare, education and service industries. Residents also have the option of commuting to nearby cities to take advantage of jobs throughout the county. Some of the biggest employers for the area include Honda, Emerson, Airstream, Wilson Health and Freshway Foods.
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
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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