Do you rent a house in Lawrenceville ? If you are looking for a new place to live, renting to own a home may be a better option for you. Learn more about how the process is benefitting people all over the country and how it is different from simply renting a home in our latest post
Are you thinking about moving to Lawrenceville, GA?
Lawrenceville is located in Gwinnett County, Ga, a Northern suburb of world-famous Atlanta, Georgia. It is about 42 miles or 33 minutes’ drive from downtown Atlanta.
Lawrenceville is home to at least 7 natural parks and boasts the air trampoline and adventure park.
The downtown square is up and coming. You are close to many things, about 15 minutes from the Mall of GA. There are lots of many moms and pops restaurants with yummy offerings in “L’ville”, and a lot of good ethnic eats. It is a beautiful place, but keep in mind that since it is a suburb, it is a little more family-friendly than the city.
If you are looking to move now to Lawrenceville, Ga, it is a good idea to try homes for sale via a rent to own. Rent to own offers you the flexibility to try it before you buy it. By renting to own first, you can live in the Dreamhouse while deciding if you like the house or the area with the option but not the obligation to buy that home at the end of the lease.
Learn more about how the process benefits people all over the country and how it is different from only renting a home in this our latest post
Have you been Dreaming of what it would be like to be a homeowner in Lawrenceville, Ga? There are a few good ways you can become a homeowner and live your homeownership Dream.
Some people choose to rent because they perceive renting puts more of the homeownership’s responsibilities on the owners. The obvious other side of the coin is you miss out on many of the gains you could have if you owned that same home.
Even if you feel that you will not qualify to buy traditionally, there are options for you! Please keep reading there is more to learn about your other housing options: our rent to own, or renting with no intention to buy, and the many ways we can show you how to buy a home.
Renting To Own
The process of renting to own a home in Lawrenceville, Ga, is reasonably straightforward. When you rent to own a home in Lawrenceville, Ga, your first step is to make a reasonable deposit to the owner of the home to secure the deal. You will then agree to make monthly payments, similar to the monthly rent until your agreement expires, and you can choose to buy the house.
The leasing agreement is written for a couple of years, so you will have the time you need to be able to get your ducks in a row before the agreement ends.
Another great perk for trying renting to own homes is that you get to try it before you buy it. A lease with the option agreement gives you the option to not go through the buying of the house if you do not like the home or neighborhood or any other reason.
The additional great benefit is that in some agreements, part of the payments goes toward your down payment or closing cost. Therefore, monthly payments are sometimes a bit higher than the going rental rates in the area.
Renting A House
When you rent a house in Lawrenceville, Ga, the typical lease runs for one year. Some leases can go for two years but annually is more typical. After that one year, you are expected to resign a new lease move or go month to month. Month to month is not very secure as either party can terminate the lease with 30 days’ notice. If you ever had to move a household, you will understand how stressful it can be to move to another house to live and pack up a family within 30 days.
No matter the type of lease, you will be expected to make monthly payments on your home called rent payments to your landlord. If you do not pay the full amount, you can be evicted and thrown out on the streets. Make sure to make your payments on time.
Instead of making monthly rental payments, you could be spending the same payment or less on a mortgage. Also, you could be building up equity in your own home. That equity and the house can be a gift you can pass on to your family.
The way most people become homeowners is by buying a home. That involves finding a great mortgage visiting houses with a real estate agent or dropping into for sale by owners and open houses. That process can be a lengthy one.
You count the time needed to be on the job and save up 20% of the house price for a down payment to buy the house. That is not a bad strategy; it is just not one that everyone can use on their way to homeownership. When you buy a house in Lawrenceville, Ga, the conventional way down payment can be considerable. According best places.net to , the median price of homes in Gwinnett County is $230,000+ would mean your down payment will be $46,000 plus the closing cost of 3 % more. However, after saving and spending time earning that much money for a down payment and closing costs, you can move into that home and not like the home, the time needed to commute to work or the neighborhood. If you choose a rent to own homes or enter a lease with the option to buy an agreement contract, you will have time to live there and see if this is the home for you.
Creating The Right Agreements
Whenever you have decided to sell your house in Lawrenceville, Ga, it is essential; but the in-place agreements that will protect your interest.
- Buying a house through rent to own agreement in Lawrenceville, Ga, be sure all the details have been worked out. Who pays for the repairs and maintenance? Taxes? Insurance? You will need to know precisely what you are getting into before you commit to purchasing a house with a rent to own agreement.
- When renting a house in Lawrenceville, Ga, carefully read over your lease to ensure your agreement does not have any hidden agreements or unexpected responsibilities.
- When buying outright, it is best to work with a real estate attorney, qualified agent, or other real estates professional you can trust.
Renting to own a house in Lawrenceville is one of the best ways to become a homeowner. Reach out to us to learn more about it and to buy a home of your own! 678-337-1165