Rent to Own Homes in Spencer
Located in the central-west region of Indiana,... Read More
Located in the central-west region of Indiana, Spencer is a small town of 2,200 residents. It is part of Washington Township, and it’s the county seat of Owen County. The town has a total area of 1.58 square miles located along the White River.The below results are primarily rent to own homes in :
Located in the central-west region of Indiana,... Read More
Located in the central-west region of Indiana, Spencer is a small town of 2,200 residents. It is part of Washington Township, and it’s the county seat of Owen County. The town has a total area of 1.58 square miles located along the White River.The below results are primarily rent to own homes in :
Among Spencer’s 2,200 residents, the average family size was 2.81 people, while the average household size was 2.12 people at the time the 2010 United States Census was taken. About one-fifth of the town’s residents are below the age of 18, about a quarter of the town is between the ages of 25 and 44 and slightly more than a quarter of the town’s population is between the ages of 45 and 64. While children only make up 20 percent of the town’s population, there are a variety of services and opportunities for them in Spencer. Local kids attend schools operated by Spencer-Owen Community Schools, including Spencer Elementary School, Owen Valley Middle School and Owen Valley Community High School. Owen Valley High School offers students access to several academies, including a science and math STEM academy and a humanities, education and law HELP academy. Spencer was established as a town in 1820. It was named in honor of Captain Spier Spencer, an Indiana militia officer who perished in the Battle of Tippecanoe. Indiana’s Spencer County is also named in honor of Captain Spier Spencer. Many of the town’s earliest buildings are recognized on the National Register of Historic Places. These include Spencer Town Hall and Fire Station, Owen County Courthouse and Spencer Public Library.
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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