Rent to Own Homes in Winfield
Winfield is a southern Kansas city that rests on the Walnut River and covers approximately 13 square miles close to the Kansas-Oklahoma state line. Most of the city is contained in one area, but Timber Creek Lake is more than 10 miles to the northeast and is incorporated into Winfield. The city is approximately 40 miles south of Wichita and 14 miles north of Arkansas City. Winfield is home to Island Park, Southwestern College, Cherry Street Park, Black Creek Park, Albright Park, Winfield Fairgrounds and Cowley County Historical Society.The below results are primarily rent to own homes in :
Winfield is a southern Kansas city that rests on the Walnut River and covers approximately 13 square miles close to the Kansas-Oklahoma state line. Most of the city is contained in one area, but Timber Creek Lake is more than 10 miles to the northeast and is incorporated into Winfield. The city is approximately 40 miles south of Wichita and 14 miles north of Arkansas City. Winfield is home to Island Park, Southwestern College, Cherry Street Park, Black Creek Park, Albright Park, Winfield Fairgrounds and Cowley County Historical Society.The below results are primarily rent to own homes in :
The City of Winfield was named after Rev. Winfield Scott in exchange for him funding the construction of the area’s first church. The community was founded in 1870 and then incorporated as a city in 1873. The developing railroad reached the area in 1870, and there were close to 500 people living within city limits at that time. Slow but steady growth brought the population to more than 12,000 residents by 2016. The Winfield economy relies partially on industrial businesses centered around Strother Field. This municipal airport was created during World War II and was used by Winfield as well as nearby Arkansas City. The Winfield State Hospital was originally a major employer for the community, but it closed and transitioned into Winfield Correctional Facility.
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
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
- 67156