Rent to Own Homes in Spring Hill
Spring Hill has grown tremendously... Read More
Spring Hill has grown tremendously over the past 18 years. Today, the Census Bureau estimates that about 39,602 people live in Spring Hill. In 2000, only 7,715 people lived in town, according to that year's decennial United States Census.The below results are primarily rent to own homes in :
Spring Hill has grown tremendously... Read More
Spring Hill has grown tremendously over the past 18 years. Today, the Census Bureau estimates that about 39,602 people live in Spring Hill. In 2000, only 7,715 people lived in town, according to that year's decennial United States Census.The below results are primarily rent to own homes in :
Part of this growth is due to a variety of new and developing industry in Spring Hill, including the location of Ryder and Goodwill facilities in town, and the locations of a Mars Inc. plant in Thompson’s Station. For many years, though, locals have found jobs at the Spring Hill General Motors facility. The Spring Hill assembly plant was once responsible for GM’s Saturn line. Once Saturn cars fell out of production, the plant was re-designed and renamed Spring Hill Manufacturing. Spring Hill Manufacturing itself has gone through many iterations. In its early days, workers at the plant manufactured the Chevy Traverse. When Traverse manufacturing moved to Michigan, the facility was dedicated to metal stamping and powertrains. Today, the GM plant employs 3,028 people in its flexible vehicle assembly operation which produces the Cadillac XT5 and GMC Acadia, and its Global Propulsion System plant. Spring Hill’s status as a preferred business location is often promoted by the town’s chamber of commerce and the Spring Hill Board of Mayor and Aldermen. The nine-member board includes a mayor and eight aldermen, each elected at-large for four-year terms. The town is known for its excellent public schools, operated by Maury County Public Schools system. Martin Methodist College also operates its Northfield Spring Hill Campus in town.
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
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
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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