Rent to Own Homes in Glasgow
The city was established at the brink of the 19th century. The same year,... Read More
The city was established at the brink of the 19th century. The same year, 1799, it was selected as the seat of a new county, and remains so to this day. It is named for the Scottish hometown of the father of William Logan, who was one of the two commissioners responsible for selecting the county seat. Glasgow became a city in 1809. Within the city limits are historic homes that can date back to the early 1800s.The below results are primarily rent to own homes in Barren County, KY:
The city was established at the brink of the 19th century. The same year,... Read More
The city was established at the brink of the 19th century. The same year, 1799, it was selected as the seat of a new county, and remains so to this day. It is named for the Scottish hometown of the father of William Logan, who was one of the two commissioners responsible for selecting the county seat. Glasgow became a city in 1809. Within the city limits are historic homes that can date back to the early 1800s.The below results are primarily rent to own homes in Barren County, KY:
Glasgow is nestled in the rolling hills of central Kentucky. It’s only about ten minutes from Mammoth Cave National Park, which is the longest cave system known in the world and visited by over 600,000 people each year. Glasgow is situated between Nashville – about 90 miles to the southwest – and Louisville, just under 100 miles to the north.
Buying a Home in Glasgow
The median home price in Glasgow is an even $100,000, which puts it an impressive 46 percent below the national average. Recent listings range from $69,000 to $300,000. The overall cost of living is over 18 percent below the national average. The median age is about 41, and nearly 50 percent of the population is married.
Glasgow has a very low crime rate. The rating for violent crime is 13, and for property crime it is 34 (out of 100). These figures are both below the national averages of 41.4 and 43.5 respectively.
Glasgow Independent Schools serves the area. There are two elementary schools, Glasgow Middle School, and Glasgow High School in the city. Several of the schools are rated highly by GreatSchools – two receive a rating of 10 out of 10 – but families with school-aged children should still investigate the schools when shopping for a neighborhood. Families in Glasgow value education, and the high quality education available from the public school system reflects this.
Popular Neighborhoods in Glasgow
In the center of town is the Haywood/Bristletown neighborhood. Residential property is mainly medium- to large-sized single-family homes and mobile homes, and most of it is owner occupied. The area is established but not old, with many of the residences built after 1970. The median home price in this area is about $130,000. It’s rated in the top 6.5 percent of family-friendly neighborhoods in Kentucky.
Buying vs. Rent to Own Homes
You may already be thinking about a move to Glasgow because of its low cost of living and historic atmosphere. But buying a home can be out of reach for some. If you’re not quite ready for that step, a rent-to-own arrangement may work for you. A portion of each month’s rent goes toward a down payment to eventually buy the house. It’s easier and doesn’t require a large outlay of cash all at once, and renters can look forward to becoming proud homeowners – without ever having to move!
Summary
Located in a beautiful rural setting, Glasgow has mild winters and hot summers. It’s proximity to large metropolitan centers means that the big city is never too far away if you want a taste of fine dining, nightlife, shopping, and entertainment. The low cost of living, low crime rate, and quality school system all add to Glasgow’s high livability rating.
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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