Rent to Own Homes in Houma
The area which now forms downtown Houma and other sections of the city was historically occupied by the Houma tribes. European settlers named the city in honor of the Houma Nation Tribe when they founded it in 1834. Today, a demographic that includes many different races shares this small city which has been deemed one of the most affordable places to live in the United States.The below results are primarily rent to own homes in Terrebonne Parish, LA:
The area which now forms downtown Houma and other sections of the city was historically occupied by the Houma tribes. European settlers named the city in honor of the Houma Nation Tribe when they founded it in 1834. Today, a demographic that includes many different races shares this small city which has been deemed one of the most affordable places to live in the United States.The below results are primarily rent to own homes in Terrebonne Parish, LA:
Local history is preserved in Houma by the Houma Times and The Courier. The latter was originally established in 1878 and was called Le Courrier de Houma. Those who explore this city will quickly discover that local citizens possess a great respect for the culture of the United Houma Nation and also for Louisiana culture as a whole. The Terrebonne Parish School District operates the city's public school system which is one of the oldest in the state, and local campuses possess their own unique histories.
Buying a Home in Houma?
With its status as one of the more affordable places to live in the United States, there are many opportunities in Houma for those who wish to purchase a home. A little over 60% of the city's residents own their own home, however, so the market can be competitive. The median price of a home in the city is $150,000 which is below the national average. Those who opt for traditional financing can expect to have a monthly mortgage payment of $1,226.
About three-fourths of Houma properties were built after 1990, and two-thirds of them are medium-sized to large with three or more bedrooms. Married couples with families should find the local real estate market especially appealing.
Popular Neighborhoods in Houma?
Bayou Cane is one of the more affordable neighborhoods in Houma with homes that are much lower in price than the city median. The residential area is very walkable and is close to major retail outlets such as WalMart and Home Depot. Bayou Cane accounts for the entire northern section of the city. The Broadmoor neighborhood in the northeast corner offers upscale homes and a large number of married couples. It is one of the quieter communities in the city.
Buying vs. Rent to Own Homes?
Even though purchasing a home in Houma can be affordable, there are still matters of qualifying for a typical mortgage. This can often be difficult for first-time buyers. A better path to home ownership can often be a rent to own home which allows for individuals to allocate all or a portion of their monthly rental cost to purchasing the home. This method of buying a home can also offer more flexibility and freedom should renters decide that they would prefer to pursue other options.
Cost of Living in Houma?
Houma scores very low on the national cost of living index, with prices across all categories being less than average in comparison to other cities in Louisiana and the United States. Housing, in particular, is 16% more affordable in Houma than it is in most areas of the country. Utilities and healthcare costs are among the most affordable, with the price of groceries and other goods and services being closer to the overall United States index.
Bayou living is on full display in beautiful Houma, Louisiana. Vast bodies of water and local camping areas offer outdoor fun that includes boating, fishing, and relaxing in close proximity to the Gulf of Mexico. Houma is one of the most affordable cities in the United States for first-time home buyers. It has a climate that outdoor types will appreciate, a rich history, and many local attractions.
Summary
Bayou living is on full display in beautiful Houma, Louisiana. Vast bodies of water and local camping areas offer outdoor fun that includes boating, fishing, and relaxing in close proximity to the Gulf of Mexico. Houma is one of the most affordable cities in the United States for first-time home buyers. It has a climate that outdoor types will appreciate, a rich history, and many local attractions.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
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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