Rent to Own Homes in Greenville
Greenville is known as the “Refrigerator Capital of the World,” as various companies such as Ranney, Gibson, White Consolidated, Frigidaire, and Electrolux have manufactured their products there.The below results are primarily rent to own homes in :
Greenville is known as the “Refrigerator Capital of the World,” as various companies such as Ranney, Gibson, White Consolidated, Frigidaire, and Electrolux have manufactured their products there.The below results are primarily rent to own homes in :
There are ample opportunities for outdoor recreation in the area; Baldwin Lake Beach offers swimming, boating is popular on the Flat River, there are numerous trails for hiking and mountain biking, cross-country skiing is available at the Greenville Community Center as well as on bike trails, and ice fishing is quite popular in the winter months.
A small city of about 8,400, Greenville is about 35 miles from Grand Rapids and about 64 miles from Lansing. For those who like variety, four full seasons are available, with hot, humid summers and very cold winters.
Buying a Home in Greenville
Approximately 64 percent of the residential real estate in Greenville is owner occupied. The median home price is $99,000, which compares well with the national average of $187,000. Current listings in Greenville range from $35,000 to $329,000. The overall cost of living is nearly 12 percent below the national average.
The median age of Greenville residents is 34, and 46 percent of the population is married. The unemployment rate is lower than the national average, job growth is positive, and is expected to exceed 40 percent over the next ten years.
The city is served by Greenville Public Schools, which includes four elementary schools, a middle school, and Greenville High School.
Popular Neighborhoods in Greenville
Five constituent neighborhoods make up the city. The Harvard neighborhood is comprised mainly of medium- to large-sized single-family homes and mobile homes. Most of the residential real estate is owner occupied and was built after 1970. Several residences were built after 2000. Good schools, a low crime rate, many families with children, and a high rate of home ownership put this neighborhood in the top 11 percent of family-friendly neighborhoods in the entire state. The median home price is $188,000.
The City Center is made up of small- to medium-sized single-family homes and apartment complexes. The residents are a mixture of owners and renters, and it’s an average income neighborhood. The median home cost is about $145,000.
Buying vs. Rent to Own Homes
Greenville may already sound like an attractive place to live because of its low housing costs and small-town atmosphere. But financing a home can be a complicated process requiring pre-qualification and a large down payment. For some, one or both of those things put buying a home out of reach. If this describes your situation, have you considered the option of rent-to-own? Part of each month’s rent is applied toward a down payment to eventually buy the house. An initial, large down payment isn’t required, and renters can look forward to eventually becoming proud homeowners.
Summary
Greenville’s population hasn’t changed much since 1980, so if you are looking for a peaceful, quiet town with low housing costs and family-friendly neighborhoods, this may be the place for you. Plenty of outdoor activities and the full spectrum of seasons, weather, and temperatures mean that Greenville is an interesting and enjoyable place all year round.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
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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