Rent to Own Homes in Lawrence
Whether you choose to make your home in east Lawrence or downtown Lawrence, you'll probably spend some time reading the Lawrence Journal-World, visiting the Spencer Museum of Art and enjoying the great outdoors at Clinton State Park. When it's time to work, you may find employment through the Lawrence Memorial Hospital, the University of Kansas or the Lawrence Public School system. There are also some large companies with offices in the city, including Hallmark Cards.
When you have some free time, head out to Massachusetts Street, where you'll find a variety of interesting shops and delicious restaurants. If you need to do a little research or you want to participate in educational events with your children, the Lawrence Public Library is a must-visit spot.
Buying a Home in Lawrence?
You'll find a lot of ranch-style homes in Lawrence, and the average listing price is well under $300,000 in most areas of the city. Parents concerned about the quality of public schools should rest assured that all three local elementary schools are highly rated. The best high school is Lawrence Free State, and all three middle schools receive about the same ratings most of the time. More than half of the Lawrence community is college educated and the median age here is 31, so you may fit right in if you're young at heart and enjoy living close to a variety of outdoor recreational areas.
Popular Neighborhoods in Lawrence?
For historic homes that have been restored and maintained with all their glory, look to the Old West Lawrence neighborhood. These homes are picturesque, and a walk through the neighborhood will take you back in time. This is one of the most influential areas of town, so you can expect high real estate prices. Your neighbors will range from university professors and deans to lawyers and doctors if you choose to call this community your home. Other historic homes are found in the downtown area, but the Old West neighborhood will remove you from the activity of the city's center.
If you're house shopping on a tight budget, look to the East Lawrence neighborhood. You'll find this area east of Massachusetts Street, and you may appreciate the family-friendly community vibe. The real estate prices are much lower here, but the homes are substantially smaller as well.
If you have a more substantial budget but don't like historical homes, look to West Lawrence for the city's newest construction projects. These homes feature many upscale subdivisions that provide a suburban living environment. Buying vs. Rent to Own Homes
You now have alternatives to the standard home-buying process. Rather than securing pre-approval or pre-qualification for a mortgage loan before you even start looking at homes for sale in Lawrence, you have the option of searching for rent-to-own properties. These homes come with special contracts that allow you to rent now and purchase the property later. Other buyers cannot make offers on the property while you're living in the home, and you have until a specified date to secure funding and go through with the purchase.
This is a slower path to homeownership, but it works for many people who aren't quite ready to apply for financing for one reason or another. You can use the rental period to improve your financial standing so that you qualify for a lower interest rate or to simply adjust to the neighborhood and make sure that it's the right home for your family.