Rent to Own Homes in High Point
The below results are primarily rent to own homes in Guilford County, NC:
High Point is positioned between Jamestown and Horneytown in northern North Carolina, approximately 16 miles from Greensboro and 20 miles from Winston-Salem. High Point University marks the center of town, and residents have access to quality public schools like High Point High School. The city is also home to a variety of entertainment venues, including a working butterfly farm called All-A-Flutter Farms and the Neal John Deere Tractor and Industrial Museum.
For family fun time, head out to High Point City Lake Park where the miniature train and carousel will entertain the kids. The High Point Museum brings a variety of furniture to the local market twice a year, and adults enjoy racing down ziplines, shopping at High Point Market and wandering through haunted houses. The city also has many upscale breweries, restaurants and theaters, so get ready to meet friends around town at all hours.
The High Point furniture market has always fueled the local economy, and many visitors come to town simply to shop for quality pieces for their homes and offices. Other major employment opportunities are available in the education and healthcare industries.
Buying a Home in High Point
The median sales price for homes in High Point is approximately $140,000, but you can expect to see median listing prices over $160,000. There are also some luxury homes selling for far more and budget-friendly homes hitting the market for less, and most sellers are ready to negotiate with serious buyers. With most homes selling for less than $90 per square feet, it’s not surprising that more than half of all residents are homeowners.
As you browse neighborhoods, keep in mind that this is a car-dependent community and some schools are ranked higher than others. The top-ranked elementary schools are Southwest and Florence, and Southwest Guilford Middle takes the lead for junior high schools.
Popular Neighborhoods in High Point
If you’re searching for a family-friendly neighborhood close to some of the best schools in High Point, head to the Sandy Ridge neighborhood in the northwestern corner of the city. It runs south of I-40 and east of the West Fork Deep River, and you will find some of the larger and more expensive home in this area. The vacancy rate for the neighborhood is approximately 6 percent, and there are some rental homes mixed in with owner-occupied homes throughout the region.
Another popular neighborhood is the Deep River area, running south of Clinard Farms Road, west of Eastchester Drive, north of Skeet Club Road and east of Barrow Road. Median home prices are under $300,000 in this area, and most of the homes are occupied by their owners. The property vacancy rate is around 5 percent.
Buying vs. Rent to Own Homes
It’s best to start the home shopping process with a visit to your bank or another lender, and that means spending a lot of time collecting financial documentation and discussing the flaws on your credit report. If you would rather start searching for your dream home and worry about the paperwork later, you might consider a rent-to-own home. These properties start out as rentals, but you have the option to purchase the home before the end of your contract.
While you will eventually need to see a lender about financing, you don’t have to worry about someone else buying the home before you can secure a loan. Once you close on the deal, you don’t even have to move since you already live on the property.
Cost of Living in High Point
With a housing market that can sometimes cut the national average in half, High Point is one of the more affordable cities in the United States. The overall cost of living is approximately 10 percent lower than the national average, and healthcare is often the largest expense for residents. While food and some goods and services are priced a bit higher than national averages, the more reasonable housing, transportation and utility prices make it possible to live comfortably even on a limited budget.
Look to High Point if you want to live in the North Carolina Triad area but have a limited budget for housing. The real estate market offers many affordable homes as well as some luxury homes, so there’s a neighborhood suitable for every buyer. The city is also rich when it comes to opportunities for outdoor recreation and entertainment, including a working butterfly farm and a variety of restaurants, breweries and bars. Whether you’re a parent seeking quality public schools or a young adult looking for employment and fun, you may find your spot in High Point.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
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.