Rent to Own Homes in Independence
The below results are primarily rent to own homes in Jackson County, MO:
Independence, Missouri, is located approximately 11 miles east of Kansas City and is part of the Kansas City Metropolitan Area. It’s best known as the home of President Harry S. Truman, and there are many landmarks that continue to celebrate this historical figure to this day. For instance, the Harry S. Truman Presidential Library and Museum is located on U.S. Highway 24. The Harry S. Truman National Historic Site is located on Truman Street just off I-435 and includes a visitor center, the preserved Truman home and the Truman Farm Home.
The local community also embraces its part in United States history through annual events that include food vendors and live musical performances. One of the most popular celebrations is the Independence Heritage Festival held in Hill Park every September. The outdoor events as well as the city’s museums pay tribute not only to President Truman but to his wife Lady Bess Truman and their children.
Today, Independence serves as the seat of Jackson County and sits just south of the Missouri River. Residents as well as visitors enjoy day trips to Independence Square near the Historic Truman Courthouse on West Lexington Avenue. There are so many restaurants, boutiques, historical tributes and street attractions on the square that many locals enjoy frequent walks in the area just to see what’s new.
Buying a Home in Independence
$80,000 is the median home value as well as the average selling price for homes in Independence, Missouri. This is lower than the price of homes found throughout Jackson County and reflects the affordability of the city’s overall real estate market. While it isn’t difficult to find homes selling for less than $200,000 in most neighborhoods, there are also many homes selling for $500,000 or more. This includes some luxury homes that sell for more than $1 million and land lots that allow you to build your dream home from the ground up.
Popular Neighborhoods in Independence
One of the most popular neighborhoods for families with teenagers and young adults is Bundschu. This community is located around Bundschu Park and is filled with small to medium-sized homes that typically sell for less than $75,000. If you’re more interested in the night life, you will find a variety of cafes, pubs and bars near the Bristol neighborhood. Home prices in Bristol are comparable to Bundschu, but the community offers a livelier lifestyle for residents willing to stay out past dark.
If you can afford to pay a bit more, you may consider the Rock Creek South neighborhood. Homes in the area typically sell for approximately $100,000, and most homes are owned by their occupants. You will still have access to a variety of restaurants, cafes and night time entertainment venues when you live in this middle class neighborhood.
Buying vs. Rent to Own Homes
Once you start browsing the Independence real estate market, you will come across some alternative buying options that are worth your consideration. One of the most popular options right now is the rent-to-own home. This unique home-buying contract allows you to rent a home today with the option to purchase the property in the future. In most cases, you will have a specified time frame in which you must either purchase or vacate the property.
If you’re moving to Independence from another state and don’t have time to view homes for sale in advance, renting with the option to purchase is an excellent way to test out your new neighborhood before committing. Many new home owners also select this type of contract when they need more time to save a down payment or clear up issues with their credit.
Cost of Living in Independence
The cost of housing in Independence, Missouri, is approximately 40 percent lower than the national average. Even though you can expect to pay prices similar to the national average for groceries, healthcare, utilities and transportation, housing prices are low enough to keep the overall cost of living approximately 12 percent lower than the national average. This is a town where you can live comfortably and own a beautiful home even if you can’t pay thousands to your mortgage each month.
Independence, Missouri, is a great place to live if you want to enjoy a short commute to larger cities like Kansas City without sacrificing the quiet environment of a smaller town. This is a city filled with middle class neighborhoods where homes sell for far less than $100,000, but the market also features luxury homes selling for $400,000 and higher. While the city is historically known as the home of President Truman, it is now home to many residents who enjoy the reasonable cost of living and immediate access to restaurants, shopping centers, cafes and bars.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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Reported Annual Crime In Independence