Helpful Facts About Lease Purchase Homes in the State of Georgia

Rent to own homes have become a popular option and many homebuyers find them an excellent no-traditional buying option. Of course, the area where you purchase those homes is definitely important. If you’re considering lease purchase homes in GA, it’s a good idea to know the facts about lease purchase homes and what the state of Georgia has to offer. Here are a few helpful facts that may prove helpful.

One of the helpful facts to know before deciding to purchase homes in GA using a lease option agreement is the good availability of rent to own homes in this state. According to RealtyStore.com, many homes are available across the state. In fact, you can find them in most counties of the state, making it an excellent choice, no matter where you want to move in Georgia.

Another helpful fact to remember when considering lease option homes in GA is that home prices are reasonable right now. Real estate prices have dropped in the past few years, making homes affordable within the state. It’s possible to find condos, manufactured homes and single family homes that come with the lease purchase option. For those looking for reasonable home prices, Georgia is an excellent location.

If you’re concerned about Georgia’s economy, it’s helpful to known that the overall economy is quite diverse and the state is home to the headquarters of many large companies, such as SunTrust Banks, Home Depot, UPS and Coca Cola. Although unemployment rates are still a bit higher than the national average, unemployment rates are decreasing and more job creation is being seen within the state, which is important to those considering lease purchase homes in GA.

HUD and Hurricane Sandy

Homeowners and potential homeowners have already suffered a great deal these last few years with the crash of the housing market and problems with the economy, which affects resale value and makes paying the mortgage more difficult. The devastating effects of Hurricane Sandy have taken an already stressed population, and left them with a tremendous need of assistance. Purchasing HUD homes will be an increasingly viable option for many such individuals, as part of the government’s targeted relief effort towards helping those caught up in such unfortunate circumstances and bringing the fractured East Coast back together.

HUD homes (homes foreclosed by the House and Urban Development) are in many cases properties the original homeowners lost through foreclosure and have become part of a property inventory. The original aim of HUD homes and their associated organization was promoting community development and giving more people in need the opportunity for homeownership and the associated stability. Today, in the wake of Hurricane Sandy, there will likely be HUD homes for sale to support the victims. The U.S. Department of Housing and Urban Development is working with FEMA and the state governments to identify available housing units. Federal disaster assistance and support to low-income renters and homeowners in Connecticut, New York, and New Jersey are particular priorities, as are all specific areas most affected by the storm. Homeowners interested in available discount HUD homes for sale should consult RealtyStore online.

Buying HUD homes is in part a matter of qualifying for financing. Buyers must first get their credit details sorted out, and then consider which homes will be affordable for them given their current financial situations. The HUD homes for sale will make this easier for many of the victims of Hurricane Sandy, particularly in the wake of such a terrible disaster.