Rent to Own Homes in London
London was established in 1826 to serve as the government seat for the newly established Laurel County. It received a post office... Read More
London was established in 1826 to serve as the government seat for the newly established Laurel County. It received a post office in 1831 and continued to grow with the expansion of the railroad. The city has a historic downtown that is part of the Kentucky Main Street Program, promoting historic preservation and revitalization of shopping and community activities in the city's historic center.The below results are primarily rent to own homes in Laurel County, KY:
London was established in 1826 to serve as the government seat for the newly established Laurel County. It received a post office... Read More
London was established in 1826 to serve as the government seat for the newly established Laurel County. It received a post office in 1831 and continued to grow with the expansion of the railroad. The city has a historic downtown that is part of the Kentucky Main Street Program, promoting historic preservation and revitalization of shopping and community activities in the city's historic center.The below results are primarily rent to own homes in Laurel County, KY:
London is part of the Laurel County School District, which includes ten elementary schools, two middle schools and two high schools. It is also home to the Laurel Technical College and the Laurel campus of the Somerset Community and Technical College.
The city is home to a large farmers market with locally grown produce from May through October, featuring the freshest fruits and vegetables in season and directly from Eastern Kentucky farms in the Laurel County area. The city is in close proximity to the Daniel Boone National Forest, lakes and open areas with fishing, boating, hiking and other outdoor activities.
London is also known as the cycling capital of Kentucky, with scenic and challenging bike routes. Downtown London is host to the annual Redbud Ride which draws over 1,000 riders from 12 states.
Buying a Home in London?
With easy access to national forests, lakes and outstanding outdoor activities, buying a home in London may be a great choice for you and your family. The average value of a home in London is approximately $94,100, while the median price of homes currently for sale in the city is $145,000. Home prices have been relatively stable for the past several years and are expected to remain so. There are a diverse assortment of homes available on the market, including a number of affordable homes well below $100,000, as well as newer, more spacious homes closer to $200,000 in price.
Popular Neighborhoods in London?
London offers easy access to travel to and from the region, as it sits right on Interstates 75 and U.S. Routes 80 and 25. Some of the most popular areas in London include those near Lake Cumberland, Rockcastle River and Daniel Boone National Forest, for those who enjoy outdoor recreation, fishing and hiking. Cumberland Gap and South Fork offer homes that are near a wide variety of recreational options. The downtown area is part of a Main Street program and is home to many festivals, events and programs.
Buying vs. Rent to Own Homes?
You're ready to become a homeowner in London; however, you may need to save up more for your down payment or improve your credit for favorable mortgage rates. If this is your situation, a rent to own home can be a good option for you. You'll decide on your home, make an agreement and move in now; however, you'll rent for a fixed period while you prepare your down payment and mortgage and then buy your home. With a rent to own home, you can start your homeownership experience now.
Cost of Living in London?
Compared to the United States average, the cost of living in London is 17 percent lower. One of the biggest areas of savings in the city is housing, which is only 51 percent of the average cost in the rest of the country. However, the savings continue in transportation, groceries, health, utilities and other costs, all of which hover below the national average.
With close access to major lakes, forests and other outdoor activities, London is an excellent choice for people who enjoy great recreational opportunities and the chance to explore and grow in a close-knit, spacious community. The city offers a range of parks, trails and activities as well as a revitalizing downtown core. Festivals and community events bring residents together for celebration and entertainment.
Summary
With close access to major lakes, forests and other outdoor activities, London is an excellent choice for people who enjoy great recreational opportunities and the chance to explore and grow in a close-knit, spacious community. The city offers a range of parks, trails and activities as well as a revitalizing downtown core. Festivals and community events bring residents together for celebration and entertainment.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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