Browse Rent To Own Homes in Melbourne, FL
Are you looking for a rent to own house in Melbourne? 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 Melbourne area.
Click the link below to access the listings!
Featured Rent To Buy Houses in Melbourne, Florida
Browse the following featured properties in the Melbourne, Florida area, or click the link on this page to get access to the complete listings for Melbourne 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.
Melbourne 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 Melbourne, Florida
Melbourne, Florida is an absolutely wonderful place to call home. Located in the Palm Bay region and situated alongside the Indian River, just minutes away from the Atlantic Ocean, Melbourne has everything any homeowner could ever want or desire.
The region is perfectly situated just a few miles South of Orlando, far enough away to be well out of the hustle and bustle of the city, but close enough to have easy access to the transportation, business, and entertainment hub of the large metropolitan area.
Additionally, this small, cozy city is situated just off the Atlantic Ocean and runs alongside the Indian River, meaning that your home will be less prone to damage from the proximity to the beach, and less prone to suffering from severe storms. Meanwhile, you’re just a hop, skip, and a jump away from the beach, and can head over any day you like to enjoy the warm Florida sunshine and soak up with the warm waves of the Atlantic.
Not only that, but because Melbourne is conveniently located out of the way of many of the more popular tourist destinations, real estate in the area is surprisingly affordable. The property values have remained strong and over the long term are likely to gradually appreciate, making the area a safe region to invest in for your next home.
You’ll find a wide range of properties available to meet any budget or taste, whether you’re looking for a waterfront home with a view or a more quaint property set inland. You’ll be able to find houses, apartments, condos, water homes, and just about anything else you could imagine.
One option you could consider is to look for a rent to buy home in Melbourne. These properties often represent incredible investment opportunities for the buyer, since you can deal with the seller directly and purchase the home with little in the way of a deposit.
They’re also a great deal because you often save tens of thousands of dollars in closing costs and commissions when you work with the current owner rather than a third party intermediary.
In order to find the right home for you, you should get access to a complete list of all of the rent to own home listings in Melbourne and the surrounding area, which you can easily find online via one of a number of high quality listing providers.
Sign up via the link above to get started today, and find the home of your dreams!