Browse Rent To Own Homes in Port St. Lucie, FL
Are you looking for a rent to own house in Port St. Lucie? 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 Port St. Lucie area.
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Featured Rent To Buy Houses in Port St. Lucie, Florida
Browse the following featured properties in the Port St. Lucie, Florida area, or click the link on this page to get access to the complete listings for Port St. Lucie 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.
Port St. Lucie 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 Port St. Lucie, Florida
Port St Lucie, FL is a quaint city on the Atlantic coast of Florida about halfway between Orlando and Miami. This charming area, home to just 170,000 people, is a popular spot for both vacationers and retirees alike.
Near Boca Raton, this region is famous for great weather year round and long sandy beaches where you can stretch out and while away the days. Since you’re outside the setting of a larger city, you’re able to enjoy a slower pace of life, while remaining with arm’s reach of two of Florida’s biggest metropolitan areas: Orlando and Miami-Fort-Lauderdale.
Port St Lucie, Florida is also a great choice if you’re considering places where you can make a reliable investment in a home. This region avoided much of the speculative crash of the real estate bubble in the early 2000s, and has had consistently stable appreciation in most properties over time.
That means that whether you’re purchasing your first home or your last, you’re going to be able to buy a house confident that it will retain its value and be a sound investment property for years to come.
One of the best ways to buy property in Port St Lucie is to opt for a lease option property. These houses, also known as rent to buy homes, are great for individuals on a tight budget who wouldn’t otherwise be able to afford a home in the area.
Rather than pay a mortgage, this type of financing allows your to accrue equity in the house over time. You pay monthly rent payments to the seller, who agrees to finance a portion of the property. A percentage of every rent payment you make is then converted into a percentage of equity in the house.
Rather than losing all of your money to rent, then, you’re able to build up your ownership over the course of a few years. The exact terms of the arrangement can vary from house to house, but the important point is that this is a form of real estate that can be a win-win for both the buyer and the seller of the property. Since you often wind up closing the deal without a real estate agency, you also have the added benefit of lower purchase costs, which allow you to put more of your hard earned money into the house itself.
If the rent to buy property model sounds like something that might work for you, all you have to do is sign up for a listing service to get access to all of the current rent to own homes available in the Port St Lucie area.
Sign up today and find your dream home!