Rent to Own Homes in Greenwood
2015 estimates place the population at 55,586, an impressive 54% growth in just 15 years. It’s in the shadow of Indianapolis, the largest city in the Hoosier State, and other large metropolitan areas aren’t far away: Columbus is 185 miles to the west, and both Cincinnati and Louisville are just 100 miles away. And Chicago, the capital of the Midwest, is just 200 miles to the north. There are no less than four interstates that converge in the Indianapolis area, making travel to all points of the compass easy and convenient.The below results are primarily rent to own homes in Johnson County, IN:
2015 estimates place the population at 55,586, an impressive 54% growth in just 15 years. It’s in the shadow of Indianapolis, the largest city in the Hoosier State, and other large metropolitan areas aren’t far away: Columbus is 185 miles to the west, and both Cincinnati and Louisville are just 100 miles away. And Chicago, the capital of the Midwest, is just 200 miles to the north. There are no less than four interstates that converge in the Indianapolis area, making travel to all points of the compass easy and convenient.The below results are primarily rent to own homes in Johnson County, IN:
The Greenwood Commercial Historic District was placed on the National Register of Historic Places in 1991. This area developed between about 1860 and 1935. In all, 25 different buildings, representing different architectural styles, comprise this area.
Buying a Home in Greenwood
Nearly 62% of residential real estate in Greenwood is owner occupied. The median home price is about $154,000. Luxury homes are available as well, some going for seven figures. The median age in Greenwood is 35, and about 54% of the population is married, making this a good place for young families. The overall cost of living is nearly 7% below the national average, with housing coming in at an impressive 17% under the national average.
Three public school corporations serve Greenwood, and private schools are located within the city limits as well. Public schools, rated by GreatSchools, range from 3 to 9 (out of 10). Most are in the 7-9 range, but families with school-aged children should still take the time to find out about schools when investigating various neighborhoods.
Popular Neighborhoods in Greenwood
The southwest area of Greenwood is the Waterloo/El Dorado neighborhood. Most residential real estate is large- to medium-sized homes. Neighborhoods are established but not old, with many homes built since 1970, and several since 2000. The majority of residents are married couples and families. Median home price is about $305,000.
Just north of this is the Frances neighborhood. It’s quite similar to the Waterloo/El Dorado area in terms of homes and families. A low crime rate, owner-occupied single-family homes, and good public schools make this an attractive place for families as well. Nearly 70% of the residents are married. The median home price is about $208,000.
Buying vs. Rent to Own Homes
Greenwood’s many positive aspects may already be pulling at your sleeve. But the pre-qualification and down payment needed to buy a home put many out of the running. Many are taking advantage of rent-to-own options. A portion of each month’s rent goes toward a down payment to eventually buy the house. It gives renters the real possibility of becoming proud homeowners – without even having to move.
Summary
With Greenwood’s growing population and proximity to Indianapolis, job growth is expected to be a whopping 42% over the next ten years. But many people who work in Indianapolis choose not to live there. They prefer quieter environs in which to relax and raise a family. Greenwood is such a place. Just outside the tendrils of urban sprawl, it’s all the benefits of a big city without the constant din of crowds and traffic. Greenwood is worth considering as a place to 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
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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