The city of Lafayette is located in west-central Indiana, approximately 60 miles west of Indianapolis. The Wabash River flows along the western edge of the city, and I-65 runs down the eastern border. The city is dotted with large parks and open green space for outdoor recreation, and Prophetstown State Park is a short drive away. This northern region of the United States is known for its four-season... Read More
The city of Lafayette is located in west-central Indiana, approximately 60 miles west of Indianapolis. The Wabash River flows along the western edge of the city, and I-65 runs down the eastern border. The city is dotted with large parks and open green space for outdoor recreation, and Prophetstown State Park is a short drive away. This northern region of the United States is known for its four-season climate that features sunny summers and piles of snow in the winter.The below results are primarily rent to own homes in Tippecanoe County, IN:
The city of Lafayette is located in west-central Indiana, approximately 60 miles west of Indianapolis. The Wabash River flows along the western edge of the city, and I-65 runs down the eastern border. The city is dotted with large parks and open green space for outdoor recreation, and Prophetstown State Park is a short drive away. This northern region of the United States is known for its four-season... Read More
The city of Lafayette is located in west-central Indiana, approximately 60 miles west of Indianapolis. The Wabash River flows along the western edge of the city, and I-65 runs down the eastern border. The city is dotted with large parks and open green space for outdoor recreation, and Prophetstown State Park is a short drive away. This northern region of the United States is known for its four-season climate that features sunny summers and piles of snow in the winter.The below results are primarily rent to own homes in Tippecanoe County, IN:
Many residents are attracted to Lafayette because it's across the river from Purdue University, which is located in the city of West Lafayette. Both of these towns were named after General Lafayette and are now located within Tippecanoe County. Some of the biggest attractions in Lafayette include the Hean Mansion Museum and the Art Museum of Greater Lafayette.
Most residents consider West Lafayette part of their town, and they take advantage of the entertainment opportunities and restaurants available across the river. It's also common for locals to take the short drive to Indianapolis for weekend getaways or to enjoy the larger entertainment venues offering concerts and theatrical performances throughout the year.
Buying a Home in Lafayette
Lafayette has a diverse real estate market that presents many homes listed for less than $100,000 alongside those listed for more than $200,000. More than 60 percent of residents own their homes, and it's easy to find established communities with low resident turnover and reasonable vacancy rates. If you prefer to live in a more rural environment, consider looking for open lots that allow you to build your dream home in Lafayette. When purchasing an older home, make sure to complete an inspection and to consider the cost of renovations that are sometimes needed to make a home livable.
Popular Neighborhoods in Lafayette
To find one of the most popular regions of Lafayette, head west of North 500 East on the northern edge of town. Median real estate prices are typically around $150,000 in this area, and you'll find a mix of older homes and new constructions. Most homes in the area are occupied by their owners, and the vacancy rate stays below 5 percent most of the time. There are many large homes with more than four bedrooms in this area of town.
Another popular neighborhood is located west of Concord Road and north of 500 South. The median home price for this area is typically under $175,000, and most homes have at least three bedrooms. This area offers a low vacancy rate and few rental properties, so you can enjoy a stable, established neighborhood with some new construction available.
Buying vs. Rent to Own Homes?
The typical home-buying process requires a thorough overview of your financial life, and you need a high credit score to secure the most affordable interest rates. This takes a lot of planning, but that doesn't mean that you must wait years to move into a new home. Rent-to-own properties give you the opportunity to move into the home that you would like to purchase in the future, but you start out as a renter. When you secure financing and purchase the property, you transition into a home owner. This is a good option if you're ready to move but aren't ready to apply for a home loan or assume the responsibility of owning a home.
Cost of Living in Lafayette?
The cost of housing in Lafayette can drop 50 percent or more below the national average at times. This contributes to an overall cost of living that typically falls 10 percent or more below the national average. The cost of groceries is quite reasonable throughout the city, and most residents pay 20 percent less than average for transportation. Most other expenses are comparable to national averages. If you select a home that fits your budget well, it's possible to live comfortably here even on a limited income.
Lafayette is about an hour away from Indianapolis by highway, and it's just minutes from the town of West Lafayette. The city includes many small parks that allow everyday recreation, and the Wabash River runs along the western edge of town. Located close to Purdue University and Prophetstown State Park, this is a beautiful city that offers layers of snow in the winter and lots of sunshine in the summer. You can also find affordable housing in most areas of town, making this an attractive city for families as well as professional singles and students.
Summary
Lafayette is about an hour away from Indianapolis by highway, and it's just minutes from the town of West Lafayette. The city includes many small parks that allow everyday recreation, and the Wabash River runs along the western edge of town. Located close to Purdue University and Prophetstown State Park, this is a beautiful city that offers layers of snow in the winter and lots of sunshine in the summer. You can also find affordable housing in most areas of town, making this an attractive city for families as well as professional singles and students.
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
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.