Springfield, MA is the capital city of Massachusetts. Home to more than 150,000 residents, Springfield is a major center for retail shopping, finance, and manufacturing. The city is also known as a hub for higher education with its several colleges and universities.
Lease to Own Homes in Springfield, MA
Springfield offers a wide variety of homes for lease to own properties. Some of these properties include: single family homes, condominiums and townhomes. The lease option purchase price typically ranges from $100,000-$200,000 depending on the location and condition of the property. Renters who choose this option will pay an upfront fee (typically $1-2k) and then make monthly payments on the home until they are ready to purchase it at fair market value at the end of their lease term.
In most cases, this option is only available to renters who have a steady income and good credit. Home buyers can use their savings or other financial resources to make up any difference between the purchase price and their down payment.
The advantage of this type of lease option is that it allows buyers to take their time, get familiar with the process and make sure they are ready to buy before making a commitment. The downside is that renters will have to cover all maintenance costs for the duration of the lease term.
How To Find Rent To Own Properties in Springfield, MA?
There are many ways to find rent to on homes in Springfield, MA. The first step is to search the internet for homes that fit your needs and budget. You can also use local real estate agents who specialize in this type of transaction. If you are a landlord looking to sell your property, consider listing it with an agent who specializes in rent-to-own transactions. This will ensure that your home receives maximum exposure and attract more qualified buyers interested in this type of lease option.