Rent to Own Homes in Williamsport
Williamsport, Pennsylvania, is the county seat of Lycoming County in the northeastern region of the state. It is the principal city of the greater Williamsport Area, which includes the overall Williamsport, Pennsylvania Metropolitan Statistical Area. The current population of the area is at 29 thousand people, the median household income is at around $35.8 thousand and the median property value in Williamsport is a little under $102 thousand.The below results are primarily rent to own homes in :
Williamsport, Pennsylvania, is the county seat of Lycoming County in the northeastern region of the state. It is the principal city of the greater Williamsport Area, which includes the overall Williamsport, Pennsylvania Metropolitan Statistical Area. The current population of the area is at 29 thousand people, the median household income is at around $35.8 thousand and the median property value in Williamsport is a little under $102 thousand.The below results are primarily rent to own homes in :
The Williamsport Area School District oversees ten different K-12 schools, and services the neighboring communities of Lewis, Hepburn, Lycoming, Old Lycoming, and Woodward. The district employs over five hundred individuals in the greater Williamsport Area, and as of 2015, the graduation rate of students was at an all-time high of 87.7%. Overall, the Williamsport Area School rating is higher than average, and supports a high volume of students per year. South Williamsport is a nearby community in Pennsylvania that is famous for its creation of Little League Baseball and the host of the Little League World Series. Both Williamsport and South Williamsport are closely linked both economically and physically, and have a long history of prosperity in the sawmill and furniture making industries. The population of South Williamsport is at around six thousand people, the median income sits at about $34 thousand, and the median property value sits at around $144 thousand.
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
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
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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