Rent to Own Homes in Elizabeth City
The Elizabeth City Micropolitan Statistical Area is home to some 64,000 residents. One of the most notable things about this region is the presence of the Coast Guard Air Station Elizabeth City, home of the largest Coast Guard base in the United States. The Elizabeth City Shipyard is another prominent local attraction. Many waterways connect the city to other nearby towns and provide leisure for the outdoor enthusiast.The below results are primarily rent to own homes in :
The Elizabeth City Micropolitan Statistical Area is home to some 64,000 residents. One of the most notable things about this region is the presence of the Coast Guard Air Station Elizabeth City, home of the largest Coast Guard base in the United States. The Elizabeth City Shipyard is another prominent local attraction. Many waterways connect the city to other nearby towns and provide leisure for the outdoor enthusiast.The below results are primarily rent to own homes in :
The Elizabeth City Regional Airport is a joint civil-military venture that serves both the Coast Guard and civilian travelers. Other transportation available in the city includes a public transit system which serves many surrounding areas, and the Chesapeake and Albemarle Railroad which provides a link to Virginia. The school system in the city is among the best in North Carolina according to placement scores.
Buying a Home in Elizabeth City
With just 35% of the housing units in Elizabeth City being owner-occupied, there are many opportunities for the home buyer. Homes in this beautiful area are also priced below the national average. The median cost of a home is $135,700. Those who obtain a mortgage loan to purchase a home can expect to make a payment of approximately $1,422 each month.
Homes in this city are mostly modern. Almost 85% of them were built after 1990. A little more than half of the city's housing units are family-sized with three or more bedrooms, but there are also a large number of studio homes which will appeal to singles.
Popular Neighborhoods in Elizabeth City
The Weeksville/Salem neighborhood occupies the southern end of Elizabeth City and boasts some of the city's most affluent homes. Homes in this ultra-quiet neighborhood which is close to the water have a median price of $135,700. Almost 60% of the residents in this neighborhood are married couples. One of the more affordable neighborhoods in the city is located near Roanoke Ave. and S. Road St. More than 62% of the neighborhood's residents are female, and most residents are single. Many of them attend nearby Elizabeth City State University. While nice, this neighborhood is not especially quiet.
Buying vs. Rent to Own Homes
Buying a home anywhere in the United States is a time of excitement and apprehension. The joy of being a homeowner is mingled with the anxiety of qualifying for financing. One way to avoid dealing with a mortgage lender is to consider a rent to own home. These homes permit individuals to apply a portion of their rent to eventual ownership and remove the frustration of qualifying for a loan.
Summary
Those who appreciate outdoor leisure and being close to the water will love Elizabeth City, North Carolina. This picturesque location in the northeast corner of the state also has top-rated school systems, a thriving cultural arts community, and many historic buildings. The largest Coast Guard base in the nation is also based in Elizabeth City, and the local shipyards are a popular attraction.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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