Browse Rent To Own Homes in North Charleston, SC
Are you looking for a rent to own house in North Charleston? 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 North Charleston area.
Featured Rent To Buy Houses in North Charleston, South Carolina
Browse the following featured properties in the North Charleston, South Carolina area, or click the link on this page to get access to the complete listings for North Charleston 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.
North Charleston 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 North Charleston, South Carolina
Would you like to own your own home, but you are not sure that you have enough money for a down payment? Have you been having a hard time getting approved for a mortgage? Do you worry that you are just throwing your money away on rent and not building any real assets?
If so, it may be time to start looking into rent to own programs. These programs give you the best of both worlds. You can just continue paying the same amount in rent, but you will put yourself on a path towards finally becoming a real homeowner.
When you take the time to find the best rent to own homes in North Charleston SC, you will see that there are many options to choose from. No matter what sort of house you are looking for, you will be able to find something that suits your needs. Whether you are looking for a small two-bedroom house for yourself, or a larger one for a big family, you can find a great selection.
Many people have credit ratings that are not as good as they could be because they have gone through rough patches in the past. Perhaps you lost a job and were unable to pay all of your bills for a while, or maybe medical expenses caused you problems. No matter what your situation may be, you can still get the support that you need to finally own your own home.
Remember that new homes are always coming onto the market, so if you do not find something that you like right away, do not worry. If you are patient and wait a few months, something that meets your needs is bound to show up. You just need to make sure that you check regularly to see what homes are now available in this program.
The cost of renting a home can be high, so wouldn’t you rather be building wealth each month instead of just throwing your money away? When you pay rent, you are never going to see any of that money again. Instead, start increasing your assets by renting to own.
Once you see what sort of rent to own homes are available in North Charleston, you will wonder why you did not start looking sooner. This is a great way to finally achieve the dream of home ownership.