Browse Rent To Own Homes in Bountiful, UT
Are you looking for a rent to own house in Bountiful? 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 Bountiful area.
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Featured Rent To Buy Houses in Bountiful, Utah
Browse the following featured properties in the Bountiful, Utah area, or click the link on this page to get access to the complete listings for Bountiful 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.
Bountiful 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 Bountiful, Utah
Bountiful is located at the base of the Wasatch Range, which rises high to the east, overlooking the city. Most of the residential neighborhoods climb high up the slopes of the mountain. The cities near to Bountiful are North Salt Lake, Wood Cross and Centerville. Bountiful has a total area of 13.5 square miles.
The Population in 2014 was about 43,385. 99% urban and only 1% rural. The Population density is about 3,220 people per square mile. The racial makeup of the city was 95.56% White, 0.24% African American, 0.27% Native American, 1.15% Asian, 0.32% Pacific Islander, Hispanic race were 2.90% of the population.
The most common occupations among the population are related to sales with a 15%, management occupations with a 13%, office and administrative occupations about 7% and production occupations with 6%.
About education, The elementary schools are Adelaide Elementary, Bountiful Elementary, Holbrook, Muir, Oak Hills Elementary, to name a few. the high schools in Bountiful are Viewmont High, Bountiful High, South Davis Jr High, Millcreek Jr High, Mueller Park Jr High . The middle schools in Bountiful are Muir School, Adelaide School, Boulton School, Valley View School, Bountiful School, Oak Hills School, Meadowbrook School, Tolman School and Washington School.
Some of the notable locations in Bountiful are Colonial Square , Main Street Professional Plaza, Fordham Commercial Park, South Davis Metro Fire Agency Station 81 and South Davis Metro Fire Agency Station. The Tourist attractions are Bountiful Historic Museum, Bountiful Utah Temple, Muller Park trails wich is a great lower-altitude alpine rid and The European Focus- Inc.
Also, there are two important Shopping Centers named Pages Lane Shopping Center and Hayward Interests Shopping Center.