Rent to Own Homes in Gulfport
The below results are primarily rent to own homes in Harrison County, MS:
Venture into southern Mississippi and you’ll find the city of Gulfport resting on the Gulf of Mexico coastline. The city was once known as home to the Gulfport-Biloxi International Airport and a variety of oceanfront resorts and casinos, but Hurricane Katrina changed everything in 2005. Community buildings like the Gulfport Public Library were destroyed, and thousands of residents were left homeless over the course of one day. It took years for the city to rebuild and for residents to return to daily life, aided by assistance from the Gulfport Police Department, the Gulfport School District and nationwide relief agencies.
Gulfport is located within Harrison County and is a five-minute drive away from Mississippi City. This area is a major tourist attraction for the state, bringing in thousands of visitors interested in visiting the Island View Casino, Gulf Islands Waterpark, Lynn Meadows Discovery Center and miles of sandy beaches running along the Gulf Coast. The local housing market and affordable cost of living allow most residents to own their homes and live comfortably even on modest budgets, making this one of the best places to live in Louisiana if you want to enjoy an active lifestyle close to the coast.
Buying a Home in Gulfport
The median listing price for homes in Gulfport typically stays well below $200,000, but there are neighborhoods with upscale homes that can sell for significantly more. This city features a dynamic real estate market that offers cheap properties as well as large new constructions in planned communities. When deciding which home is best for your household, think about how close you want to live to the coast and find neighborhoods close to your place of employment or desired public schools. There are hundreds of homes on the market at any given time, but you can eliminate most of them right away if you make a list of your must-haves and wishes.
Popular Neighborhoods in Gulfport
Florence Gardens is one of the most desirable neighborhoods in Gulfport. It was designed to look and feel like a suburban community, complete with a 100-acre backyard that is shared by all residents. This is a family-friendly neighborhood that is close to Lake Florence, the Midland Cove swimming pool and the Butterfly Boardwalk. You can find homes at various price points and sizes here.
If you want to live right on the coast or walking distance from the beach, consider Mississippi City. The median real estate price is typically under $200,000 in this area, so don’t assume that you must invest millions to live on the Gulf coast. This neighborhood does have a high vacancy rate, and there are many rental properties that may bring steady resident turnover to your surrounding community. There are still pocket neighborhoods that are more stable.
Buying vs. Rent to Own Homes
If you want to buy a home in Gulfport but aren’t quite ready to apply for a loan, consider rent-to-own properties. Not all homes for sale will offer this type of contract, but those that do will give you more time to secure financing for your new home. You’ll move into the property as a renter, and the current owner will typically maintain responsibility for repairs until you officially purchase the home. This allows you to settle into your new neighborhood while improving your credit or taking other steps to prepare for home ownership.
Cost of Living in Gulfport
The overall cost of living for Gulfport often drops about 10 percent below the national average. This is largely due to below-average real estate prices, though most goods and services are sold for below-average prices as well. You can expect to pay average prices for utilities, transportation and other major expenses, but it is possible to live comfortably in this city even if your income isn’t substantial.
Gulfport Mississippi is well-known for its sandy coastline that stretches along the Gulf of Mexico. It attracts many visitors in search of sun, sand and surf, but it’s also an affordable city where many single professionals and growing families thrive. Though the city had to recover from the devastation of Hurricane Katrina, it remains a beautiful town with an active public school system and stunning landscapes that encourage outdoor recreation. It also boasts a below-average cost of living, so it’s a good place to buy a home and settle down.
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
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.