Rent to Own Homes in Broussard
The city of Broussard is located in southern Louisiana, less than 10 miles south of Lafayette and approximately 60 miles southwest of Baton Rouge. Broussard is a part of the fast-growing Lafayette Metropolitan Statistical Area. According to recent data from the United States Census Bureau, the population of Broussard is approximately 11,500 residents.The below results are primarily rent to own homes in :
The city of Broussard is located in southern Louisiana, less than 10 miles south of Lafayette and approximately 60 miles southwest of Baton Rouge. Broussard is a part of the fast-growing Lafayette Metropolitan Statistical Area. According to recent data from the United States Census Bureau, the population of Broussard is approximately 11,500 residents.The below results are primarily rent to own homes in :
The population density of Broussard is just over 500 people per square mile. There are approximately 200 housing units per square mile in the city. The median income for households in Lafayette Parish is approximately $52,400 per year. The top three employment sectors in the area are mining, quarrying, oil and gas extraction; health care/social assistance and retail. The history of Broussard dates as far back as the mid-1700's, although the city was established in 1884. It was named after Valsin Broussard, a local merchant of the era who formed a Vigilante Committee in response to a robbery at his store. Valsin Broussard was directly related to Joseph Gaurhept Broussard de Beau Soleil, who was among the first of the Acadians to relocate to Louisiana. Nestled in the depths of Cajun country, Broussard offers residents a dose of Southern hospitality. Historic charm is displayed in the number of downtown homes built in the Queen Anne Revival style. Broussard's Main Street Historic District is proudly listed on the National Register of Historic Places.
Buying vs. Rent to Own Homes
When you rent to own, you pay an option fee and rent the home for up to three years while prepping for financing approval. Then, you buy it as soon as you’re ready. When you buy a home normally, you skip to the third step of the process.
Basically, when you’re almost ready to own a home, you should consider renting to own, but when you are ready, you should go ahead and purchase it.
Rent to own gives you more time to improve your credit score or save up a greater down payment in preparation for buying a house. Ultimately, rent to own is more expensive than outright buying a property because you’re paying rent to the owner every month. However, lease-options are a much better alternative than renting a property because you’re building some equity in the home, just not as much as you will once you purchase.
Once you own a home, you will likely be making monthly payments to a mortgage. Mortgage payments are typically around the same amount as rent to own payments, but all of it – minus interest, PMI and taxes – builds equity in the property, which directly benefits you.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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