Rent to Own Homes in Greensboro
The below results are primarily rent to own homes in Guilford County, NC:
Modern, casual and welcoming, Greensboro is a thriving city in the US Piedmont Triad area that also includes High Point and Winston-Salem. The third biggest city in North Carolina, Greensboro is home to a flourishing art, sports and cultural community that is central to Greensboro life. The city hosts so many sporting events that it is often affectionately called Tournament Town. Some of those events happen at the Greensboro Coliseum Complex, where more than 1,100 athletic events, music concerts, trade shows and conventions are hosted each year. Locals with an interest in arts also delight in the offerings of the Greensboro Ballet and School of Greensboro Ballet as well as the Greensboro Cultural Center. The cultural center is home to more than two dozen arts organizations, multiple art galleries and an outdoor amphitheater. Noting that the arts contribute $118 million to the local economy, the Greensboro City Council even declared April as “I Heart Arts” month, further solidifying the city’s dedication to the arts.
Buying a Home in Greensboro
Whether you’re buying a new home or an existing home, Greensboro’s affordable housing prices are rising very slightly. While the average value of an existing Greensboro home is $245,572, the average selling price for an existing home is $183,586. That’s up from the average selling price of $180,156 recorded at the end of 2014. For new homes, the gains are similarly slight, rising from $215,512 to $216,521 in the past year. The number of foreclosures and other distressed properties rose 14 percent in 2015 to 792 properties, with a median selling price of $139,500.
Popular Neighborhoods in Greensboro
Downtown’s historic buildings, chic residential towers and comfy apartments attract a wide range of locals who want to be able to walk to the neighborhood coffee house, local museums and dozens of restaurants. Just north of downtown, Fisher Park is a popular neighborhood for young professionals and families who enjoy the community spirit and history of the area. The neighborhood houses one of the city’s three historic districts, and hosts a number of community events and welcomes new residents with official neighborhood greeters. Executives and professionals often prefer the more exclusive Grandover neighborhood, appreciating its gated safety, grand custom homes, children’s playground and Grandover Swim & Racquet Club.
Buying vs. Rent to Own Homes
Buying a home is a terrific goal, and many locals find that rent to own homes give them a feasible option for achieving that goal. Often, rent-to-own arrangements are less strict financially, and they offer the added benefit of giving purchasers time to accumulate a down payment and build up a better credit rating. Frequently lasting one to three years, these rent-to-own contracts often require an option fee and a marginally higher monthly rent. In many cases, both the option fee and rent excess can be credited to the down payment, providing a simple, consistent way to enhance the down payment.
Cost of Living in Greensboro
Locals appreciate the very affordable living expenses of Greensboro. On average, residents pay 12 percent less than the national average on all necessities, and a jaw-dropping 38 percent less on housing. Residents will also spend 2 to 4 percent less on utilities and transportation, but they will spend 3 percent more than the average on healthcare and groceries. Miscellaneous living expenses in Greensboro are on par with the nation’s average.
Greensboro’s lively community is full of art, music and events and plenty of industry and education too. It’s affordable housing market makes it a highly desirable place to live, and its engaging historic, urban and suburban neighborhoods only add to the appeal. Overall, Greensboro residents have a very low cost of living, just one of the factors that led to the region being named one of Forbes magazine’s “Best Bang for Your Buck” cities.
Rent to Own Realtors
You can plan a party without an event planner, you can go swimming without a lifeguard, and you can rent to own without a realtor.
That’s important because there isn’t as much money for realtors in rent to own deals as in traditional sales. Therefore, finding a realtor to help you is rare.
While the listed activities might be easier with a professional, they’re all possible without one. To successfully rent to own without a realtor learn all you can about it.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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Reported Annual Crime In Greensboro