Rent to Own Homes in Spring Lake
Spring Lake is a growing city in east-central North Carolina that rests approximately 10 miles north of Fayetteville, 120 miles east of Charlotte and 45 miles south of Raleigh. This area is just south of Carvers Creek State Park, and the city is home to additional recreation areas like Edward Mendoza Memorial Park. The Little River flows through the northern end of the city, and Young Lake is positioned just outside of city limits. Residents can also commute to several larger cities in the nearby area for additional entertainment and recreation opportunities.The below results are primarily rent to own homes in :
Spring Lake is a growing city in east-central North Carolina that rests approximately 10 miles north of Fayetteville, 120 miles east of Charlotte and 45 miles south of Raleigh. This area is just south of Carvers Creek State Park, and the city is home to additional recreation areas like Edward Mendoza Memorial Park. The Little River flows through the northern end of the city, and Young Lake is positioned just outside of city limits. Residents can also commute to several larger cities in the nearby area for additional entertainment and recreation opportunities.The below results are primarily rent to own homes in :
The area that we now refer to as Spring Lake, North Carolina, started out as Clayton Cut. The name was changed after Arthur Priddy opened a service station named Spring Lake in the area. The community developed largely due to the city’s location, which his approximately five miles from Fort Bragg. This is still a big attraction for residents today, and there are some popular golf courses in the area. This includes Ryder Golf Course and Stryker Golf Course. As of 2013, the median income in Spring Lake was above $35,000 per household and family. In addition to jobs in education, healthcare and retail within city limits, many residents commute to Fayetteville for additional employment opportunities. In 2016, there were approximately 15,000 Spring Lake residents.
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 free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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