Browse Rent To Own Homes in South Jordan, UT
Are you looking for a rent to own house in South Jordan? 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 South Jordan area.
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Featured Rent To Buy Houses in South Jordan, Utah
Browse the following featured properties in the South Jordan, Utah area, or click the link on this page to get access to the complete listings for South Jordan 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.
South Jordan 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 South Jordan, Utah
The City of South Jordan is the 10th largest city in Utah with a population of 65,672. The city lies in the Salt Lake Valley between the Oquirrh Mountains to the west, West Jordan to the north, the Jordan River and Sandy to the east, Draper to the southeast, Riverton to the south, and Herriman to the southwest. With a total area of 22.1 square miles.
Is one of the region’s fastest growing areas It is composed by seven constituent neighborhoods. Much of the housing stock in South Jordan was built relatively recently. It is a great place to live because of its combination of educated neighborhoods, good services, low crime rates and low unemployment rates where the median household income is $91,228.
South Jordan is considered a white-collar city, with fully 85.03% of the workforce employed in white-collar jobs, is a city of sales and office workers, professionals and executives, also, there are especially a lot of people living in South Jordan who work in management occupations (15.80%), office and administrative support (15.47%) and sales jobs (12.86%).
South Jordan lies within Jordan School District. The district has six elementary schools, two middle schools named South Jordan Middle and Elk Ridge Middle; and four high schools Bingham High School, Herriman High School, Itineris Early College High School and Valley High.
Some of the city activities throughout the year are Easter Egg and Candy Scramble, Miss South Jordan Pageant, Country Fest, Outdoor Summer Movies, South Jordan Farmers Market, Chalk Art Competition, South Jordan Fire Fighters Chili Cook-Off, SoJo Marathon, Light the Night which is a lighting ceremony and Sounds of the Season that is a holiday music.
In the other hand, there are several parks like South Jordan Skate Park, South Jordan Plaza Ice Rink, South Jordan City Park, West Riverfront Park, East Riverfront Park, South Jordan Equestrian Park, Oquirrh Shadows Park Splash Pad, and Samuel E. Holt Farmstead Park.