Rent To Own Homes In Belleville Illinois

Are you tired of renting? Wouldn’t you rather own a home?

You’ve heard that interest rates are cheap and there are so many great opportunities for affordable houses in the Belleville IL area but you’re not quite ready yet to pull the trigger. You might be hesitant to talk to a bank about a loan or maybe you’ve already talked to a bank and know that you’re a year or so away from cleaning up your credit. You scroll through websites everyday looking at awesome houses that you wish could be yours. Instead of owning your own place you’re constantly dealing with property managers who are probably asses who don’t have your best interest in mind. You’ve lost count at how many maintenance complaints you’ve submitted that have been ignored. Oh and don’t forget your neighbors. Could they be any worse?

Sounds like you’re ready to rent to own!

St Clair County House Buyers specializes in helping folks who want to buy a house but can’t get a loan right away. Although renting to own (also known as a Lease Option) may seem complicated, it’s really quite simple. There are two parts to the process.

1. A traditional lease for up to two years or more
2. An option to purchase the property if you so desire

The option to purchase locks you into a price and prevents anyone else from buying the property for as long as the option document is still active. Let’s go a bit further into the details of the option agreement.

The Option Agreement is a document that gives you the sole right to buy the house for a set price within a certain amount of time. You’ll lock in those terms with an option fee that will be applied to the purchase price when you complete the transaction. The option agreement is usually valid for up to 24 months which gives you plenty of time to clean up your credit report. In the meantime, you’ll be renting the home just like any other tenant. When you’re finally ready to get a loan, you “exercise the option” and we move on to scheduling a closing to complete the transaction and the home becomes yours!

You Could Rent To Own Homes In Belleville IL Similar To These!

What are the advantages of Rent To Own homes in Belleville IL?

One of the top perks from a financial standpoint is that you’ll be locking in a purchase price for the future but at today’s market value. Despite occasional bumps in the road, housing prices will likely continue to rise in Belleville and surrounding areas. Over the course of 12-24 months, it’s reasonable to expect the home to appreciate by a few percent. Let’s use real numbers as an example.

If you lock in a purchase price of $100,000 on a house that will appraise at $100,000 today, it’s likely the house will be worth $2 – 4,000 more in a year or two. Add to the example that St Clair County House Buyers offers homes for sale that are typically below current market price. This means you’ll have instant equity when you’re ready to buy.

Another advantage of leasing with an option to purchase is the feel of “ownership” and knowing that you’re just one step away from completing the purchase. Feel like painting the bathroom or tiling the kitchen floor? No need to ask permission from the landlord. You’re welcome to do most improvements without interference.

What are the next steps?

Sign up for our Preferred Buyer List of rent to own homes in Belleville IL and get immediate notice when we have a new home available for you to buy. Scroll down and submit the form. They go fast!

Reach out to local banks and schedule an appointment to talk with a Loan Officer to find out what you need to do to get qualified for a loan. You may be surprised at how close you are to being approved. You might be eligible right away! Don’t forget to ask about the St Clair County housing grant program.

Research credit repair and start cleaning up your credit report immediately. There are some basic steps you can do to boost your credit score quickly. There are many websites you can use that will help you with the process and necessary steps.

St Clair County House Buyers looks forward to helping you buy your own home! Contact us if you have any questions.