Browse Rent To Own Homes in Daytona Beach, FL
Are you looking for a rent to own house in Daytona Beach? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Daytona Beach area.
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Featured Rent To Buy Houses in Daytona Beach, Florida
Browse the following featured properties in the Daytona Beach, Florida area, or click the link on this page to get access to the complete listings for Daytona Beach rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Daytona Beach Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area.
Without a reputable listing agency, finding these properties can be extremely difficult!
Sign up below to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Daytona Beach, Florida
Famous for the annual car races, Daytona Beach is much more than a one hit wonder. When it isn’t racing season, this beachside town has only 60,000 residents or so, plus a steady stream of beachgoers down for a week-long vacation.
The area is incredibly picturesque, and if you can afford to live here then you will find you’ll have many jealous peers and family members, and probably a healthy stream of guests looking to come through and help you enjoy the wonderful location!
It also means that Daytona Beach is a good place to invest in a house. The city is only a short ride from Orlando, giving you access to the international business community, along with many regional hubs, as well as the features you can enjoy in most every big city, all while allowing you to relax in a smaller beachside community.
Because the name is well known, and has been established as a true brand, it also means that property values in the area are likely to continue to rise well into the future, making it a good place for investing in a house for the long run.
The stream of tourists and annual influx of racing teams and crowds mean that the local economy will likely remain strong, another strong point for the potential homeowner.
The downside is that prices already may be higher than you were anticipating, in which case you might be searching for alternative financing options for your new property. Fortunately, seller financing is not uncommon, and you’ll easily be able to find a good rent to own home option within your budget.
To get access to the current lease option listings and other houses available with non-traditional financing, enter your email via the link above and start looking for your next home purchase today!