Rent to Own Homes in Anderson
While Hoosier Park Racing and Casino is one of the city's highlights, this area is also heavily invested in education. Younger residents are served by Anderson High School and other public schools. This includes Anderson Preparatory Academy, which is a free charter school serving children from kindergarten through high school.
Adults of all ages have access to Anderson University and Ivy Tech Community College of Indiana. The University was originally known as Anderson Bible School and was connected to the Church of God, which is headquartered in Anderson. The name was changed to Anderson College and then to Anderson University. The school is still closely tied to the church.
Buying a Home in Anderson?
The average listing price for homes in Anderson is often less than $100,000, and it's common for buyers to pay less than $50 per square foot. Approximately 70 percent of residents own their homes as a result of these low prices, and there are many established neighborhoods located close to public schools, parks and other family-friendly city amenities. Most of the schools in this city are rated highly by parents, so you can select a neighborhood that fits your budget and other needs without concern for school districts.
Popular Neighborhoods in Anderson?
If you want to live close to some of the best-rated public schools in a neighborhood with low crime rates, look to the community filling the northwestern corner of the city. This large community runs west of North 600 West and ends at the city's western boundary. The median retail price is typically around $150,000 in this area, and you'll find many large homes with at least three bedrooms. The vacancy rate tends to stay under 10 percent, and most of the homes are owned by their occupants.
If you want to live in a similar neighborhood with lower real estate prices, you can find homes selling for around $100,000 if you look just east of Layton Road in northern Anderson. The Moonville community in the northeastern corner of the city is another option, and the home prices are often below $100,000 in this region.
Buying vs. Rent to Own Homes?
You want to purchase a home in Anderson, but you know that you might qualify for a better interest rate if you wait a year or two. In this case, your best option is to move into a rent-to-own property. You will gain immediate access to your new home, but the current owner will grant you some time to secure funding to purchase the property. You continue renting until you secure that lower interest rate and officially buy the home.
Cost of Living in Anderson?
The cost of living in Anderson is known to drop more than 50 percent below the national average, creating the ultimate buyer's market. This drives the overall cost of living down to approximately 20-30 percent below average. While most residents pay close to average prices for utilities, transportation, healthcare and groceries, the city remains one of the most affordable options in Indiana.
Anderson is positioned approximately 40 miles north of Indianapolis and serves as the headquarters for the Church of God. The church maintains Anderson University as a source of higher education for residents. Ivy Tech Community College is also located within the city, and younger students are served by an active public school district that includes a charter school. Anderson is home to a popular horse racing facility and casino as well as a few large parks and family-friendly neighborhoods with affordable housing. The city's biggest attraction is the affordable cost of living.
Summary
Anderson is positioned approximately 40 miles north of Indianapolis and serves as the headquarters for the Church of God. The church maintains Anderson University as a source of higher education for residents. Ivy Tech Community College is also located within the city, and younger students are served by an active public school district that includes a charter school. Anderson is home to a popular horse racing facility and casino as well as a few large parks and family-friendly neighborhoods with affordable housing. The city's biggest attraction is the affordable cost of living.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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