Rent to Own Homes in West Point
West Point, Georgia is nestled between the larger cities of LaGrange and Columbus, along the Chattahoochee River. At West Point, the Chattahoochee River begins to flow south, creating the border between Georgia and Alabama. This modestly-sized city lies primarily in Troup County, with a small portion reaching into Harris County. According to the United States Census, the population of West Point is over 3,700 residents.The below results are primarily rent to own homes in :
West Point, Georgia is nestled between the larger cities of LaGrange and Columbus, along the Chattahoochee River. At West Point, the Chattahoochee River begins to flow south, creating the border between Georgia and Alabama. This modestly-sized city lies primarily in Troup County, with a small portion reaching into Harris County. According to the United States Census, the population of West Point is over 3,700 residents.The below results are primarily rent to own homes in :
West Point has been a well-connected city since its early days. The Atlanta and West Point Railroad brought residents to northern cities, while the Montgomery and West Point Railroad provided transportation to the south. West Point Industries, formerly the West Point Foundry and Machine Company, is a mainstay in the local economy. More than twenty percent of West Point residents are employed in manufacturing careers, with many presumed to hold positions at West Point Industries. The West Point Dam was built to create West Point Lake, a reservoir for flood control, power generation, navigation and outdoor recreation. The construction of West Point Dam was crucial to protect property as communities along the Chattahoochee River saw a surge in population. West Point Lake is a local gem, providing endless opportunities for outdoor recreation to residents.
Buying vs. Rent to Own Homes
Renting to own a home and buying a house have the same steps, just on different timetables.
When you buy a house, you either pay with cash or you make monthly payments to a mortgage or some other kind of financing option for a set time frame.
When you rent to own a home you pay an option fee, which is later credited toward the purchase of the home, and then you make monthly rent payments until you’re sure you want to buy this house and you can secure financing. Then, you do the same things you would if you were buying a house – just make sure you do it before the end of the lease term so that you don’t lose any of the money you’ve negotiated.
When you can choose between the two, buying might be the right option because your monthly payments will go towards equity in a home as opposed to someone else’s pocket. However, lease-options get you to the same place with a little more time.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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