Rent to Own Homes in Charlotte
The below results are primarily rent to own homes in Mecklenburg County, NC:
Charlotte, North Carolina is the center of the Charlotte Metropolitan Area in the United States. This region is known for two things: NASCAR and big business. Charlotte Motor Speedway attracts visitors from across the country every year while the Charlotte Hornets keep fans cheering on the basketball courts. During football season, you can’t miss the Panther pride making an appearance from Charlotte Town to Uptown.
The hub of business rests in Charlotte Center City, otherwise known as Uptown. This is the Charlotte area right in the center of town, and it’s known as the city’s best place for shopping and business. Many large corporations have their headquarters in the Charlotte Center area, including Bank of America, Lowe’s and Duke Power.
As a respected university heavily invested in research, UNC Charlotte attracts attention for the city as well. Other esteemed educational institutes include the Charlotte Jewish Day School and Queens University. Local communities have access to the Charlotte Carnegie Library, the Charlotte Zoo and an efficient public transportation system.
Buying a Home in Charlotte
When moving to a large city like Charlotte, you must decide what type of neighborhood best suits your personality and lifestyle. Communities range from tree-lined streets with walkable sidewalks and nearby parks to larger homes with more acreage included. There are also some homes available in the buzz of the business districts, keeping you close to the office and alive with the movement of the big city.
Many people commute to Charlotte from suburbs and small towns located nearby. Pineville, Concord and the Lake Wylie area all have homes for sale that may meet your needs better than those found within the city.
Popular Neighborhoods in Charlotte
If you’re looking for affordable homes, look to Midwood, Berewick or Madison Park. All of these neighborhoods are diverse in terms of home prices, ranging from less than $200,000 to homes over $500,000. If you want a brand new home, you may find new constructions available in Berewick. Midwood is an active community where you’ll find your neighbors out walking their dogs, biking with their children and enjoying the weather year round. Madison Park is known for its quaint tree-lined streets and family-friendly amenities.
If you’re on a tight budget but still want amenities, go to Stonehaven. It’s a smaller neighborhood, but it has some of the most affordable homes and includes a clubhouse, tennis courts, playground and swimming pool.
Buying vs. Rent to Own Homes
If owning a home is on your bucket list but you aren’t sure that right now is the time to take on responsibility for maintenance of a house, considering renting to own. This is a standard contract which allows you to rent the property for a period of time while the option to purchase is on the table. You will have a designated rental period, and then you will need to purchase the home or renegotiate. This gives you some time to prepare for homeownership while moving into your dream home immediately.
Cost of Living in Charlotte
Living expenses in Charlotte are similar to those throughout North Carolina and in many other parts of the country. Indexes for housing, healthcare and goods and services are slightly below national averages, but the utilities index is slightly higher. Indexes for groceries and transportation are even with national averages. This balance is created by the variety featured throughout the city. You can find houses for less than $100,000, but there are also some large homes selling for millions. The same variety is found with grocery stores, restaurants and entertainment venues. Prices vary with the neighborhood, so everyone can find their sweet spot within this city.
Charlotte is a sprawling city which features a variety of neighborhoods and businesses. When residents aren’t cheering on the Panthers or watching race cars swirl around the track, they’re relaxing in comfortable homes within tree-lined neighborhoods. The city center, otherwise known as Uptown, is home to many large corporations and is the hub of business. You can find some homes in this area, but most residents live in smaller communities within or just outside of the city.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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