Rent to Own Homes in Lewisville
The Lewisville City Council works hard to keep the city bustling with jobs as well as affordable housing and safe residential areas. It starts with proper maintenance of the Lewisville Independent School District and ends with community events that give all residents a chance to let loose and have a little fun. Some of the events that you may look forward to attending include the Old Town Holiday Stroll and the Western Days Festival. To keep up with news around town and even around the world, residents trust the Lewisville Leader and other local news agencies.
Buying a Home in Lewisville?
While you will find some luxury homes selling for more than $500,000 in Lewisville, the average listing price is typically under $400,000. You can easily find homes selling for less than $200,000 in many neighborhoods, so you don't have to blow your budget in order to own a nice home in this city. Nearly 70 percent of residents own their homes, and you can easily find neighborhoods with reasonably low vacancy rates. Since this is a car-dependent area, you may want to select your housing carefully if you need to walk to work or rely upon public transportation.
Popular Neighborhoods in Lewisville?
If you have children and want to live in a family-friendly neighborhood with plenty of housing options, look in the northeastern arm of Lewisville near Fish Hatchery Road. This community is north of Sam Rayburn Tollway and includes East Hill Park. Some of the highest ranked schools are located within the neighborhood as well. You'll find some of the city's newest homes in this area, and the median sales prices are often around $300,000.
For sales prices that are typically under $200,000, find the small neighborhood between South Garden Ridge Boulevard and Old Orchard Lane on the western edge of the city. The homes north of West Corporate Drive and south of Timber Creek are budget-friendly, and the vacancy rate in the area is nearly nonexistent. Most residents in this area own their homes, so you won't have to worry about rapid turnover from rental homes.
Buying vs. Rent to Own Homes?
Are you open to alternative methods of purchasing a home in Lewisville? If so, you should look for rent-to-own properties around town. These homes allow you to move in right away, but you don't have to get pre-approved for a loan or produce your down payment immediately. You sign a special agreement that allows you to rent with the intention of purchasing the home in the future. You'll have a date by which you must follow through with the sale, and no other buyer can purchase the home while you're renting. If that sounds like a solution to your problem, look for Lewisville rent-to-own properties.
Cost of Living in Lewisville?
The average Lewisville homeowner pays less than $900 per month for their mortgage payment, and renters often pay close to $1,000 per month for an apartment. This is a community with many affordable homes, and the overall cost of living is comparable to the national average. Most residents spend more of their budget on transportation and healthcare than on rent, since the housing index is typically close to 10 percent lower than the national average. Whether you want to stretch your housing budget to buy a larger home or you simply have a conservative budget, Lewisville can likely accommodate your needs.
Lewisville is a northern Texas town that attracts many residents with low real estate prices. It's easy to feel like you're part of a close-knit community when you participate in the fun street festivals and other events held throughout the year. Whether you enjoy going to the rodeo or taking in a show at the theater, you will find entertainment venues to suit your needs in Lewisville or surrounding towns.
Summary
Lewisville is a northern Texas town that attracts many residents with low real estate prices. It's easy to feel like you're part of a close-knit community when you participate in the fun street festivals and other events held throughout the year. Whether you enjoy going to the rodeo or taking in a show at the theater, you will find entertainment venues to suit your needs in Lewisville or surrounding towns.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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