Rent to Own Homes in Lebanon
During the 19th century, the main stagecoach road from Nashville to the east went through Lebanon, which contributed to the city’s growth. By 1900 the population had almost reached 2,000, and at mid-century it was nearly 8,000. The 20,000 mark was reached by 2000. Cracker Barrel restaurant was founded in Lebanon in 1969 and still has its headquarters there.The below results are primarily rent to own homes in Wilson County, TN:
During the 19th century, the main stagecoach road from Nashville to the east went through Lebanon, which contributed to the city’s growth. By 1900 the population had almost reached 2,000, and at mid-century it was nearly 8,000. The 20,000 mark was reached by 2000. Cracker Barrel restaurant was founded in Lebanon in 1969 and still has its headquarters there.The below results are primarily rent to own homes in Wilson County, TN:
Located in north central Tennessee, Lebanon is home to 30,000 people and part of the Nashville Metropolitan Statistical Area; it just a few miles east of the outskirts of Nashville. Chattanooga is 135 miles to the south, and Louisville, Kentucky is 160 miles to the north.
Buying a Home in Lebanon
The median price of a home in Lebanon is $207,000, which is 11 percent higher than the national average. Approximately 60 percent of the residential real estate is owner occupied, and home values have appreciated nearly 14 percent over the last ten years.
Approximately 48 percent of the population is married, and the median age of the city’s residents is 36.3. The median household income is $41,000.
The city is served by both the Lebanon Special School District and Wilson County Schools. The latter operates two high schools, Wilson Central High School and Lebanon High School. Cumberland University, founded in 1842, is also within the city limits.
Popular Neighborhoods in Lebanon
The city is comprised of 11 constituent neighborhoods. The Laguardo neighborhood to the northwest is an upper-middle income neighborhood which abuts the Cumberland River. The residential real estate is mainly small- to medium-sized singl- family homes and mobile homes. Many of the residences were built after 2000, and it’s rated in the top six percent of family-friendly neighborhoods in the state. The median home cost is $359,000.
Just to the south of Laguardo is the Leeville/Cairo Bend neighborhood. It provides easy access to I-40. The homes are mainly medium- to large-sized single-family homes and mobile homes, and most are owner occupied. It is ranked in the top seven percent of family-friendly neighborhoods in Tennessee. The median home cost is $313,000.
Buying vs. Rent to Own Homes
With so many things going for it, you may already be thinking about a move to Lebanon. Realistically, though, buying a home seems out of reach to many. Down payments and qualification for financing lead some to believe that they’ll never be homeowners. But there is an alternative. Many are looking into rent-to-own arrangements, where renters simply live in a home for a specified period of time and then have the option to buy. While they are renting, a portion of each month’s rent is set aside toward a down payment to eventually buy the home. It’s an easy way for renters to become proud homeowners.
Summary
The beautiful scenery of central Tennessee provides a beautiful backdrop for the city of Lebanon. The proximity to Nashville means that big-city amenities such as dining, entertainment, nightlife, shopping, employment, and of course country music, are just down the road. Positive job growth, good housing, and family-friendly neighborhoods mean that Lebanon should be on your list if you’re looking for a place in which to settle and call home.
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
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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