Homes For Garden Nursery Landscaping Guide
Homes For Rent To Buy
By James R Blunt
The Boston Globe recently reported that owning a home in Boston
is roughly 70% more expensive than renting an almost identical
home somewhere else! Rent-to-own homes for those with poor credit
can help them restore their credit rating and negotiate lower
mortgage rates, while also allowing them the opportunity to live
in a nice home.
The National Low Income Housing Coalition said that most people
are building no equity with home ownership and are paying much
more than they would if they were renting. With home owners paying
upwards of $2,340, while fair market monthly rents hover around
$1,353, why bother with the American Dream? Instead, renting to
own could keep monthly payments lower and allow the market more
time to settle.
Homes With The Rent-To-Buy Option
There are a few dangers to looking at homes for the rent-to-buy
option. For one, you will be locked into the purchase price from
the initial rental date. So in some cases, a renter can make out
like a bandit if area housing prices appreciate. Yet, even if
housing prices drop further, the renter must buy at the initially
agreed upon price, or walk away, thus losing their option fee
and monthly rents.
Secondly, some renters may fall in love with their home but will
lose it at the end of the option period due to the inability to
improve their credit score and get approved for the mortgage.
Renters can also lose the home if they fail to make timely payments
or if the landlord does not hold up his end of the bargain and
winds up facing foreclosure.
Lastly, those who are not serious about moving onto home ownership
will probably find cheaper deals in the world of apartment rentals,
although there will undoubtedly be more living space with homes
in lease purchase agreements.
The Best Market For New Homes Rentals
"Homes for sale become homes for rent," reports Channel
15 news from South Carolina. Like Carolina, most cities faced
with a massive housing inventory are renting out 1-3% of their
housing stock as rent-to-own properties. The best market for new
homes rentals is in Florida, in cities like Daytona Beach, Fort
Lauderdale, Fort Meyers, Orlando and Tampa, where the housing
bubble inflated well beyond anyone’s wildest dreams.
Now that the bubble has burst, the houses are hot and the prices
are cheap. Similarly in California, cities such as Santa Maria,
San Bernadino, Temecula, Penn Valley and Anaheim Hills offer a
good selection of rental homes. Additionally, Jefferson, Avinger,
Seguin, Fort Worth and Houston real estate are thriving with these
offers. In recent months, Pennsylvania, Ohio, North Carolina,
New York, Michigan, Georgia and Illinois have added lease purchase
listings to www.househitz.com.
About the Author:
James R Blunt has written a number of articles on architecture
and home improvement including The
Design, Architecture
And Design, Design
Development, Architectural
Digest, Architectural
Services, Architectural
Design, The
Architect, The
Architectural.
Keep a lookout for more of his articles on this website.
Little Known Home Inspection Facts....
When people buy homes, most mortgage companies require that the
buyer’s have a home inspection performed. This is a great line
of work for someone that can pay attention to details and knows
about construction. It is a great job that can make you the boss.
You can take on clients and build up a base of customers that
will help bring you in tons of work. If you are not sure about
how to be an inspector or you need the tools to help make the
job easier, you can go online for help.
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