Rent to Own Homes in Kannapolis

Some of the biggest attractions in the Kannapolis area include Curb Records & Motorsports, the North Carolina Music Hall of Fame and Baker’s Creek Park. Residents are also a short drive from the Whitewater Center and other attractions in Charlotte. When they aren’t playing in the park or racing cars, you can find most residents at work or school. The city is served by Kannapolis City Schools, Cabarrus County Schools and Rowan–Salisbury Schools.

Buying a Home in Kannapolis

The Kannapolis real estate market started an uphill trend in 2015, but median prices are still comfortably below $150,000. You can expect to find many homes with two or three bedrooms selling for less than $200,000 in most areas of the city, though some newer constructions or those with luxury features can sell for substantially more. There are many brick ranch-style homes that sell for the lowest prices even when in move-in condition. Nearly 70 percent of residents own their homes due to these affordable prices.

If you’re moving to Kannapolis with children, you should research the school zones surrounding any home that you want to purchase. Some schools are rated much higher than others, but some of the best options are Forest Park Elementary, Charles E. Boger Elementary and Kannapolis Middle.

Popular Neighborhoods in Kannapolis

To look at homes for sale in one of the most prestigious Kannapolis neighborhoods, head to the western edge of the city. This neighborhood runs west of Mill Creek, Coddle Creek and the reservoir. This is an established neighborhood with some of the newest and largest homes in the city, and the median real estate price is typically around $300,000.

For median prices under $200,000 while remaining close to some of the best schools in a low-crime community, look to the neighborhood known as Cold Springs or Cold Water. It’s located east of I-85 in the southwestern corner of the city.

Buying vs. Rent to Own Homes

Are you ready to buy a home in Kannapolis or another Charlotte suburb? You can often get the best deal when you invest in a rent-to-own property. While these properties require you to start out renting the property, you do so with the intention of purchasing the home in the future. You can settle into your new neighborhood and better prepare for the process of securing a mortgage loan while you pay your rent. When you’re ready to buy the property, you may qualify for a lower interest rate than you could secure today.

Summary

North Carolina residents who want access to Fortune 500 companies for employment, scenic parks for recreation and a variety of small businesses for shopping are naturally attracted to Kannapolis. This city serves as a northern suburb of Charlotte and is located just miles from Concord. Many large companies maintain headquarters in the city, and there are even more job opportunities in nearby cities. This area of North Carolina is also known for its large medical center, and patients travel from all over the state to receive care.

Rent to Own Realtors

When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.

A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.

Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.

Regardless, a lawyer will have more accurate information about your contracts anyway.

About Our Listings

Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.

Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.

If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.