Rent to Own Homes in West Point
The city of West Point is situated in northeastern Clay County in the state... Read More
The city of West Point is situated in northeastern Clay County in the state of Mississippi in the United States. It is a part of the greater Columbus-West Point Combined Statistical Area, has a population of around eleven thousand people, and is the county seat of Clay County. There are a number of large businesses in the city limits that provide a number of jobs for residents, including: Southern Ionics, Babcock & Wilcox, Mossy Oak, Bryan Foods, and the Prairie Belt Power Site. West Point is also home to the West Point Country Club and Old Waverly Golf Club, which is considered one of the state's top golf courses.The below results are primarily rent to own homes in :
The city of West Point is situated in northeastern Clay County in the state... Read More
The city of West Point is situated in northeastern Clay County in the state of Mississippi in the United States. It is a part of the greater Columbus-West Point Combined Statistical Area, has a population of around eleven thousand people, and is the county seat of Clay County. There are a number of large businesses in the city limits that provide a number of jobs for residents, including: Southern Ionics, Babcock & Wilcox, Mossy Oak, Bryan Foods, and the Prairie Belt Power Site. West Point is also home to the West Point Country Club and Old Waverly Golf Club, which is considered one of the state's top golf courses.The below results are primarily rent to own homes in :
Public education in West Point is overseen by the West Point School District, which is now known as the West Point Consolidated School District when it merged with Clay County School District in 2015. There are eight public schools in West Point, including: four elementary schools, Central Middle School, Fifth Street Junior High School, West Point High School, and the Catherine Bryan School (for preschool and special education students). The city is also home to Oak Hill Academy, which is a private K-12 school, and the West Point Career and Technology Center.
Buying vs. Rent to Own Homes
Rent to own gives you anywhere between a few months and three years time to prepare for buying a home. It’s more costly than buying outright because you’ll be paying rent to the owner instead of building equity by paying off the mortgage; but, it’s much better than renting because you have the option to buy and stop the rent payment process whenever you’re ready.
Lease-options help set you up for a home purchase in the not-so-distant future.
That’s not to say that because you aren’t ready to buy you should rent to own. If you need more than three years before you’re ready to purchase a home, you shouldn’t rent to own. Instead, you should wait until you’re at least less than three years away from qualifying to buy a home before signing your lease-option because, if the lease term ends and you’re not ready to buy, you’ll lose the money you invested in an option fee and any other money you’ve negotiated from the seller.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
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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