Rent to Own Homes in Gallatin
Gallatin is just 30 miles from downtown Nashville. Bowling Green, Kentucky is 45 miles to the north. Old Hickory Lake – part of the Cumberland River formed by the Old Hickory Lock and Dam – is a popular place for boating, swimming, fishing, camping, and other activities. It forms the southern boundary of Hendersonville, the town that borders Gallatin to the west.The below results are primarily rent to own homes in Sumner County, TN:
Gallatin is just 30 miles from downtown Nashville. Bowling Green, Kentucky is 45 miles to the north. Old Hickory Lake – part of the Cumberland River formed by the Old Hickory Lock and Dam – is a popular place for boating, swimming, fishing, camping, and other activities. It forms the southern boundary of Hendersonville, the town that borders Gallatin to the west.The below results are primarily rent to own homes in Sumner County, TN:
Located in Gallatin is Volunteer State Community College, a two year college with over 70 degree programs. The five major divisions are Health Sciences, Humanities, Business and Technology, Social Science and Education, and Math and Science. In 2014, the college had an enrollment of more than 8,000 students.
Buying a Home in Gallatin
The median cost of a home in Gallatin is about $190,000, which is about two percent above the national average. Current home listings range from $58,000 to $2.9 million. Nearly 60 percent of the residential real estate is owner occupied. The overall cost of living in Gallatin is about four percent below the national average.
Approximately 54 percent of the population is married, and the average age of the residents is 35. The median family income is about $42,000.
Six parks and three golf courses are in Gallatin. Basketball, tennis, football, and soccer leagues are available for children of various ages.
The city is served by Sumner County School District, which operates over 50 schools. The schools are rated from 4 to 10 (out of 10) by GreatSchools, so families with school-aged children should do some investigating when shopping for a neighborhood.
Popular Neighborhoods in Gallatin
Gallatin is comprised of 11 constituent neighborhoods. The Peytona neighborhood includes the college, and it also borders the river. The residential real estate is mainly small- to medium-sized single-family homes and apartment complexes. Many of the residences are newer, built since 2000. The residents are a mixture of owners and renters. It’s considered among the top one percent of neighborhoods in the state for retirees. The median home cost is about $397,000.
To the south is the Nashville Pike/Douglas Bend Rd. area. Three sides of this neighborhood are bordered by water. The residential real estate is primarily medium- to large-sized single-family homes, and most is owner occupied. It is a family-oriented neighborhood, and the median home cost is $330,000.
Buying vs. Rent to Own Homes
Gallatin may already be enticing you with its scenic river setting and proximity to Nashville. But getting financing for a home isn’t always easy; it requires pre-qualification and a sizable down payment. If you think you’re not quite ready for that, don’t give up. Many are taking advantage of rent-to-own arrangements. A portion of each month’s rent goes toward a down payment to eventually buy the house. Hence, renters can look forward to owning the home – without even having to move!
Summary
This is a pleasant town with lots of waterfront, outdoor activities, and in the backyard of Music City, U.S.A. Good schools and family-friendly neighborhoods complete the picture to make Gallatin, Tennessee a place well worth considering if you’re looking for a place to settle and put down roots.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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