Rent to Own Homes in Fayetteville
The seat of Cumberland County and the sixth largest city in North Carolina, Fayetteville is home to the thriving Fort Bragg Army installation, Pope Army Airfield and a host of enterprises to support their needs. In fact, it is one of the top 5 defense industry development areas in the nation.
While Fort Bragg and its activities may influence much of Fayetteville, the city also is an important shopping, entertainment, recreation and transportation center for all of Cumberland County. The Fayetteville area offers a revitalized downtown filled with interesting shops, delicious eateries, the Airborne and Special Operations Museum and Fayetteville Town Hall. For recreation, locals and visitors can take thrilling zipline adventures over Carver’s Falls or hit the links at a number of challenging golf courses. Even transportation around the region is easy with the Fayetteville Regional Airport and nearby I-95.
Buying a Home in Fayetteville
There’s plenty of good news for house hunters in Fayetteville, with the average price for existing homes dropping 9 percent to $119,961. New homes are more expensive, though, with an average price of $224,665. The median value of all homes on the market currently stands at $145,000, and the number of completed home sales actually increased a bit in the past year to 2,241. There’s further good news for home buyers after the purchase is made. Homes purchased last year have already appreciated in value by $8,120, according to real estate education and investment company FortuneBuilders.
Popular Neighborhoods in Fayetteville
Recent college graduates, couples and singles thrill to the more modern amenities and loft options of downtown. From garden apartments to warehouse spaces that have converted to loft apartments, downtown puts residents steps from the city’s many festivals, restaurants and activities. Historic Colonial Revival homes mix with bungalows, Tudor and Federal homes in the enchanting Historic Haymount Heights neighborhoods. The community’s population increased 2.4 percent from residents drawn to the neighborhood’s majestic homes, rich history and convenient proximity to downtown. The Buckhead neighborhood also grew by 2.5 percent, favored by families and couples for its beautiful newer homes with more modest prices.
Buying vs. Rent to Own Homes
Buying a home the traditional way often involves a flurry of activity once an offer is made, from negotiating inspections and pricing to applying for mortgages. Rent to own homes operate a little differently. Buyers negotiate a purchase price based on today’s market and agree to a rent-to-own contract that will last one to three years typically. Rent-to-own purchasers pay an option fee instead of a down payment when the contract is signed, and often pay a minimal premium on the monthly rent. A down payment is usually required at the close of the contract, but the option fee and rent premium are frequently credited to the down payment.
Cost of Living in Fayetteville
Lovely Fayetteville seems even lovelier when the city’s low cost of living is considered. It’s 10 percent cheaper to pay for all of life’s necessities in Fayetteville than it is in most other cities. Housing is especially economical here, costing 39 percent less than the national average. Transportation is a slim 1 percent cheaper, and groceries, healthcare and utilities are 3 to 6 percent more expensive than the national average.
An All-American City, Fayetteville has a rich history and a prized location on the Cape Fear River. Its long-standing home to Fort Bragg and robust employment options make the city a popular place to settle. To meet this demand, Fayetteville is filled with myriad housing choices, from grand historic homes in sleepy neighborhoods to sparkling new houses in well-planned developments. The city’s low cost of living and even lower housing costs add to the city’s immense appeal as the perfect hometown.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.