Rent to Own Homes in Trotwood
The city of Trotwood in the western Montgomery County, Ohio, is home to a population of around 25 thousand people over 30.49 square miles of land, and is a part of the greater Dayton Metropolitan Statistical Area. The average family size in Trotwood is 2.91 and the average household size is 2.29. The median age of residents in Trotwood is 41.8 years old and the average household income is $35 thousand.The below results are primarily rent to own homes in :
The city of Trotwood in the western Montgomery County, Ohio, is home to a population of around 25 thousand people over 30.49 square miles of land, and is a part of the greater Dayton Metropolitan Statistical Area. The average family size in Trotwood is 2.91 and the average household size is 2.29. The median age of residents in Trotwood is 41.8 years old and the average household income is $35 thousand.The below results are primarily rent to own homes in :
Trotwood was originally founded as Higgins Station in 1854 and was incorporated as a part of Madison Township in 1901. By 1996, Madison Township and Trotwood merged into a singular entity and the city was born. This merger resulted in the creation of the Trotwood neighborhood that is surrounded by the larger city of Dayton, Ohio, as well as the allocation of a large rural stretch of land that has been developed into farmland, golf courses, and larger rural estates. Public education in Trotwood is overseen by the Trotwood-Madison City School District. The school district includes three elementary schools, one middle school, and one high school. Trotwood-Madison High School enrolls a little under 800 students each year. The school mascot is the Ram and the school's colors are red and white. In 2017, the Boys' Football team at Trotwood-Madison High School won the Ohio High School Athletic Association State Championship, and the school is known for several NFL alumni (including Nicholas Grigsby of the New England Patriots, Bam Bradley of the Baltimore Ravens, and former NFL player Maurice Douglass).
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
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
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.
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