Browse Rent To Own Homes in Asheville, NC
Are you looking for a rent to own house in Asheville? 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 Asheville area.
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Featured Rent To Buy Houses in Asheville, North Carolina
Browse the following featured properties in the Asheville, North Carolina area, or click the link on this page to get access to the complete listings for Asheville 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.
Asheville 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 Asheville, North Carolina
If you’re thinking of purchasing a home in the Asheville NC area, then it’s well worth taking a closer look at the many rent to own deals in this location. In fact, investing in a new home using a rent to own scheme is becoming incredibly popular, and it’s easy to see why. In this guide, we are going to highlight some of the key benefits associated with using a rent to own deal, so let’s learn more.
First of all, there’s no denying how difficult it can be to get on the property ladder these days, so there’s certainly no shame in not being able to purchase a home using a conventional mortgage deal. However, rent to own provides a unique opportunity for people to purchase the home they have always wanted, simply by paying monthly rental payments which ultimately build towards owning the home outright.
Of course, this gives you the added benefit of making your rent an actual investment ñ because your rental payments will be used as credit for your purchase price when it comes to buying the property at the end of the deal.
What’s more, this gives you incredible flexibility and versatility, because you will usually have the option to walk away from the property at the end of your lease term if you decide to do so. However, you will need to ensure there is a solid exit clause in place to allow for this situation.
But perhaps one of the key reasons why a rent to own deal is beneficial to so many people is that it allows you to rent and purchase your own home without needing an immaculate credit rating ñ so if you happen to have a history of late payments, this shouldn’t hamper you when it comes to getting your dream home. Interestingly, it’s even possible to build your credit rating using a rent to a scheme ñ which just goes to show how beneficial these deals can be.
Ultimately, if you’re looking to own a rent to own property in Asheville NC, then you certainly won’t be short of options, and there are many fantastic properties on the market right now. So regardless of whether you’re looking for a small studio apartment, a starter home, or even a larger home for a big family ñ you should be able to find something that perfectly suits your requirements by using a rent to own scheme.