Rent to Own Homes in Champaign
More than 86,000 people now call Champaign home. Along with Urbana that it shares a border with and Savoy, the area is known as the Silicone Prairie because of the large number of technology companies based here that rely on students from the University of Illinois along with students from Parkland College which is located a short distance from Champaign City Hall. The largest technology company is Wolfram Research. The below results are primarily rent to own homes in Champaign County, IL:
More than 86,000 people now call Champaign home. Along with Urbana that it shares a border with and Savoy, the area is known as the Silicone Prairie because of the large number of technology companies based here that rely on students from the University of Illinois along with students from Parkland College which is located a short distance from Champaign City Hall. The largest technology company is Wolfram Research. The below results are primarily rent to own homes in Champaign County, IL:
With over 44,000 students attending the University of Illinois and another 18,000 students attending Parkland College, this city has a very young feel. The city also has several smaller music labels including Polyvinyl Record Company, Parasol Records and Undertow Music. From 2000 to 2010, this city grew by over 20 percent and it continues to grow although not as fast.
Diverse Illinois attractions are located near Champaign. Sports fans root for the Fighting Illini at Memorial Stadium. Top performances are given at the Virginia Theater and at the Art Theater. People in the city enjoy an active art community by going to Krannert Art Museum, Larry Kanfer Photography Gallery and Giertz Gallery.
Buying a Home in Champaign?
The median home price in Champaign is $138,400 which is well below the United States average of about $221,500. Prices have risen slightly over the last year and will probably continue to climb. The City of Champaign in conjunction with the Illinois Department of Housing offers buyer’s assistance through select lenders. Buyers can use the money as part of their down payment and closing costs when they get a 30 year fixed-rate loan. Restrictions apply including the home must be a buyer’s primary residence, but the program is well worth checking out.
More than 54 percent of Champaign residents own a home. With a large college population, it is important to choose a neighborhood that fits the buyer’s needs.
Popular Neighborhoods in Champaign?
Most students live in the Campustown neighborhood featuring bars, nightclubs and restaurants to meet their needs. Many single-family homes are found in the Kenwood neighborhood around Kenwood Elementary School. New development is happening in the Midtown neighborhood which is located between downtown and Campustown. Not all schools in Champaign receive outstanding marks, so check it out carefully. If you are looking for safe neighborhoods, then consider those west of Interstate 57 like Cherry Hills with its winding streets and a great park.
Buying vs. Rent to Own Homes in Champaign, IL?
When you are ready to purchase a home in Champaign, but you are not ready to qualify at a lender to secure the financing, then consider renting a home to own. You agree to rent the home for a specified period with the understanding that you will someday buy the house. Just like it sounds, it really is the best alternative because you enjoy a great place to live while working on your financial situation.
Cost of Living in Champaign?
It is a little bit cheaper to live in Champaign than in most cities in America. The largest expense of living in Champaign is the cost of utilities due to the cold winter weather. Transportation, groceries and housing costs are well below the national average.
Champaign is located in eastern Illinois. The city has a young vibrant atmosphere due to the colleges located here. With a thriving technology scene, great jobs are easy to find. There are many exciting things to do in the city including yelling for the fighting Illini. While student housing takes a share of the city, families can find quiet neighborhoods.
Summary
Champaign is located in eastern Illinois. The city has a young vibrant atmosphere due to the colleges located here. With a thriving technology scene, great jobs are easy to find. There are many exciting things to do in the city including yelling for the fighting Illini. While student housing takes a share of the city, families can find quiet neighborhoods.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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.
- 61821
- 61822
- 61820
- 61826
- 61824
- 61825