Rent to Own Homes in Williamsburg
Calling itself the Gateway to the Cumberlands, Williamsburg is a picturesque town just minutes from Daniel Boone National Forest, Cumberland... Read More
Calling itself the Gateway to the Cumberlands, Williamsburg is a picturesque town just minutes from Daniel Boone National Forest, Cumberland Falls State Resort Park and Kentucky Ridge State Forest. The Cumberland River winds through the center of town, providing additional scenery, recreation and industry.The below results are primarily rent to own homes in :
Calling itself the Gateway to the Cumberlands, Williamsburg is a picturesque town just minutes from Daniel Boone National Forest, Cumberland... Read More
Calling itself the Gateway to the Cumberlands, Williamsburg is a picturesque town just minutes from Daniel Boone National Forest, Cumberland Falls State Resort Park and Kentucky Ridge State Forest. The Cumberland River winds through the center of town, providing additional scenery, recreation and industry.The below results are primarily rent to own homes in :
Williamsburg was named after founder William Whitley, and it’s the county seat for all of Whitley County. Some of the county services and facilities located in Williamsburg include Whitley County Court, the county Detention Center, the Sheriff’s Department and Emergency Management. The town is filled with activities, events, recreational options and entertainment. Hal Rogers Family Entertainment Center is especially popular for local families, housing the Kentucky Splash Waterpark, the Hidden Treasures Arcade and the Parrot Hut Gift Shop. The family entertainment center is also home to the Kentucky Falls Championship 18-hole Miniature Golf Course, Strike Three Batting Cages and Thunder Road Go-Karts. The Cumberland River also provides a wide range of recreation for area residents, especially those who enjoy kayaking and canoeing. For land-based activities, it’s difficult to beat local parks such as Bill Woods Park, where locals can enjoy old-fashioned block parties, movies in the park, fun runs, Turkey Trots and Christmas celebrations.Briar Creek Park is also a popular spot to celebrate a birthday, watch a baseball game, tackle the playground equipment or enjoy a peaceful stroll. Williamsburg is deep within the country’s Bible Belt, boasting 21 religious institutions located within its boundaries. The private Christian college, University of the Cumberlands, also makes its home in Williamsburg. It is part of the Southern Baptist Convention’s Kentucky Baptist Convention.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
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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