Rent to Own Homes in Sturgis
The city of Sturgis rests on the southern edge of Michigan, approximately 45 miles south of Kalamazoo and 50 miles northeast of South Bend, Indiana. Lake Michigan, Ann Arbor and Fort Wayne, Indiana, are all within a two-hour drive of the city. Some of the city’s biggest attractions include Kirsch Municipal Airport, Trojan Timbers Park, Franks Park, Spence Field and Harmon Field.The below results are primarily rent to own homes in :
The city of Sturgis rests on the southern edge of Michigan, approximately 45 miles south of Kalamazoo and 50 miles northeast of South Bend, Indiana. Lake Michigan, Ann Arbor and Fort Wayne, Indiana, are all within a two-hour drive of the city. Some of the city’s biggest attractions include Kirsch Municipal Airport, Trojan Timbers Park, Franks Park, Spence Field and Harmon Field.The below results are primarily rent to own homes in :
Judge John Sturgis was first to settle this area of Michigan in the early 1800s. There were approximately 1,000 people living within city limits in 1860, and there were close to 11,000 residents in 2016. The city is now a part of Sturgis Township and is well-known for its hydroelectric dam. This Sturgis dam has earned the city’s nickname, “Electric City.” The historic Sturgis Train Depot is one of the oldest depots in the state. It was renovated into the Sturgis Historical Museum and now serves as a major attraction for residents and visitors interested in the history of Michigan. While proudly embracing its historical roots, the city is better known for its location close to a variety of farmer’s markets and fruit stands. Some of the more popular options include Byler’s Farm Market and Nottawa Fruit Farm.
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
Rent to Own Realtors
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
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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