Rent to Own Homes in Canton
Canton City Schools is a major employer for the city, but the area is largely known as an industrial complex. There are some major corporations that call the city home, offering a variety of jobs for skilled employees. Many residents also work in retail and other service-oriented industries.
One of the more popular areas for shopping and dining is the Canton Centre area, which surrounds Canton Centre Mall. The downtown area experienced significant plight and then rejuvenated with an active arts district and a variety of small shops and entertainment venues. Some of the city's main attractions now include the planetarium at the William McKinley Presidential Library and Museum, the Canton Museum of Art and Westbrook Veterans Memorial Park.
Buying a Home in Canton?
Canton has an interesting real estate market because it's easy to find homes selling for less than $100,000, but more modern homes with upscale amenities can also sell for upwards of $300,000. While the median listing price is typically around $100,000, the median sales price is often closer to $80,000. While the lower-priced homes are attractive, many of them will require some renovation before they're in move-in condition. It's important to consider the expense of fixing up these homes as well as the time needed for repairs when considering these cheap Canton homes.
Popular Neighborhoods in Canton?
One of the most popular neighborhoods in Canton occupies the northwestern corner of the city. The community is located west of West Boulevard NW and north of Route 687. Portage Street NW serves as the northern boundary. You can expect to see median home prices over $200,000 in this area, and many of the city's largest and newest homes are located here. The vacancy rate is often close to zero, so you may need to watch the market to find homes in this neighborhood for sale.
For home prices closer to $100,000, look to the Reedurban neighborhood in the southwestern region of town. The area surrounds Canton Central Catholic High School and is close to Sippo Lake Park and Meyers Park. This is an established neighborhood with older homes and a vacancy rate that stays under 10 percent most of the time.
Buying vs. Rent to Own Homes?
Rent-to-own properties give you the opportunity to move into a home as a renter while maintaining the option to purchase the home before a specified date. The terms of the deal can vary from one property to another, but it's common for a portion of the rental payment to carry over to your down payment when you purchase the property. If you plan on purchasing a home in Canton within the next three to five years, you may find a rent-to-own contract the best option for you.
Cost of Living in Canton?
The overall cost of living in Canton is often 20-30 percent lower than the national average, largely due to a housing market that's typically more than 50 percent lower than average. Most consumers pay average prices for utilities, transportation and healthcare, and groceries are slightly lower than average. With low housing prices, it's easy to set yourself up for a comfortable lifestyle even if your income is modest.
Canton is positioned just outside of Ohio's Amish region and is home to an active arts district in the downtown area. While the city was once a major hub for industrial employment, the area now offers a variety of jobs in retail and other service sectors as well as a smaller industrial complex. With many museums, art galleries and entertainment venues, this is an active city that offers a reasonable cost of living.
Summary
Canton is positioned just outside of Ohio's Amish region and is home to an active arts district in the downtown area. While the city was once a major hub for industrial employment, the area now offers a variety of jobs in retail and other service sectors as well as a smaller industrial complex. With many museums, art galleries and entertainment venues, this is an active city that offers a reasonable cost of living.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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