Rent to Own Homes in West Carrollton
The city of West Carrollton is located southwest of Dayton in South Central Ohio. This Montgomery County city is a part of the Dayton Metropolitan Statistical Area. It is a suburban community that is small in size but brimming with large-city conveniences.The below results are primarily rent to own homes in :
The city of West Carrollton is located southwest of Dayton in South Central Ohio. This Montgomery County city is a part of the Dayton Metropolitan Statistical Area. It is a suburban community that is small in size but brimming with large-city conveniences.The below results are primarily rent to own homes in :
According to the United States Census Bureau, the population of West Carrollton is approximately 13,100 residents. The average household size in West Carrollton is just over two people per household, while the average family size is just under three people. There are roughly 1,000 housing units per square mile in the city. The median income of households in West Carrollton is approximately $37,800 per year. People living in the area are employed primarily in manufacturing, health care/social assistance and retail industries. West Carrollton's position along the Great Miami River put residents within easy reach of outdoor recreation opportunities. The Great Miami Riverway is a community favorite. This riverfront trail welcomes walkers, runners and cyclists to stretch their legs and admire the natural beauty of the Great Miami River. When Ohio winters drive residents indoors, they will still find plenty to do at the West Carrollton branch of the Dayton Metro Library. The library maintains a packed events calendar featuring programs for children, teens and adults. The West Carrollton Parks and Recreation Department is another mainstay in the community, providing athletics, enrichment programs and special events to residents of all ages year-round.
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
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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