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Rent to Own Homes in Washington
Tri-Cities is a three-city region located along the Columbia River on the southern edge of the state of Washington. The Tri-Cities region includes Richland, Kennewick and Pasco. These three cities are so close together that they are often treated as one city with more than 200,000 residents collectively. The area serves as the center point of the Tri-Cities metropolitan area and is home to some large employers in a variety of industries.The below results are primarily rent to own homes in :
Tri-Cities is a three-city region located along the Columbia River on the southern edge of the state of Washington. The Tri-Cities region includes Richland, Kennewick and Pasco. These three cities are so close together that they are often treated as one city with more than 200,000 residents collectively. The area serves as the center point of the Tri-Cities metropolitan area and is home to some large employers in a variety of industries.The below results are primarily rent to own homes in :
While the Tri-Cities economy was originally based on the Hanford Nuclear Reservation and agriculture, it now depends on some large employers and a growing list of smaller, service-oriented businesses. Breweries and wineries are moving into the area due to the warm climate and rich soil. Other major employers for the region include Amazon, Tyson Foods, ConAgra Foods and the Battelle Memorial Institute. There are also some higher education facilities offering jobs in education throughout the Tri-Cities area. This includes Washington State University, Columbia Basin College and Charter College. Some of the region’s biggest attractions include the Southridge Sports and Events Complex, Sacagawea Heritage Trail, Highlands Grange Park, Richland Players Theater and a growing list of golf clubs. Most of the golf courses are in Kennewick and Richland with just a couple in Pasco.
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
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.