Rent to Own Homes in Concord
North Carolina is NASCAR country, and the Charlotte Motor Speedway is located in Concord. The city is also home to a number of professional racing teams, and NASCAR maintains a research and development facility in Concord. There are many other popular attractions in the city which include Concord Mills, a huge shopping mall, and every year Concord hosts the Carolina Renaissance Festival.The below results are primarily rent to own homes in Cabarrus County, NC:
North Carolina is NASCAR country, and the Charlotte Motor Speedway is located in Concord. The city is also home to a number of professional racing teams, and NASCAR maintains a research and development facility in Concord. There are many other popular attractions in the city which include Concord Mills, a huge shopping mall, and every year Concord hosts the Carolina Renaissance Festival.The below results are primarily rent to own homes in Cabarrus County, NC:
The Concord Regional Airport provides an important transportation hub for tourists as well as local residents and business entities. Coupled with the Charlotte Douglas International Airport, the city is able to provide both domestic and international flights. The median income of families in the city is $53,000, and families average three members per household.
Buying a Home in Concord
Even though Concord is home to many NASCAR racing teams as well as other strong businesses, the price of a home remains below the national average. The median home cost in the city is $167,800 and the average monthly mortgage premium is $1,413. Still, with median incomes in the city high, about 68% of homeowners pay less than 30% of their income toward housing costs.
Concord is popular with families, and almost 70% of the housing units in the city have three or more bedrooms. The homes in the city are also very modern, with 90% of them being less than 25 years old.
Popular Neighborhoods in Concord
As one might imagine, neighborhoods in Concord can vary to a great extent in terms of home value and demographics. The one consistent factor is that families tend to dominate them all. The Pitts School Rd/Leo Rd neighborhood offers some of the most affordable homes. The neighborhood borders the Concord Regional Airport and is home to the Charlotte Motor Speedway. As such, it is not as quiet as some other neighborhoods in the city and is usually bustling with activity. Poplar Tent is located more centrally within the city and is occupied by a large number of married couples with children. Homes in this area tend to range slightly above the city median.
Buying vs. Rent to Own Homes
When buying a home, individuals face a mixture of joy and apprehension. Some of them may be nervous about their ability to qualify for a traditional home loan. In these cases, a rent to own home may provide a good alternative pathway to home ownership. A large portion of each month's rent can be applied toward the purchase price, and in some instances the monthly cost can be less than that of a standard rental.
Summary
With attractions like the Charlotte Motor Speedway, Concord is one of the most vibrant cities in North Carolina. It sits amidst a beautiful landscape of hills and woods, and has been rated as one of the best places to live in the state. The city is inhabited by a large number of singles and young married couples, and this youthful vibe is reflected in the city's trendy retail establishments.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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