Rent to Own Homes in Louisburg
Now the county seat of Franklin County in north central North Carolina, Louisburg is home to about 3,500 residents. It’s about 30 miles northeast of Raleigh.... Read More
Now the county seat of Franklin County in north central North Carolina, Louisburg is home to about 3,500 residents. It’s about 30 miles northeast of Raleigh. Kitty Hawk, famous site of the Wright brothers’ first flight on the Outer Banks, is about 180 miles to the east.The below results are primarily rent to own homes in Franklin County, NC:
Now the county seat of Franklin County in north central North Carolina, Louisburg is home to about 3,500 residents. It’s about 30 miles northeast of Raleigh.... Read More
Now the county seat of Franklin County in north central North Carolina, Louisburg is home to about 3,500 residents. It’s about 30 miles northeast of Raleigh. Kitty Hawk, famous site of the Wright brothers’ first flight on the Outer Banks, is about 180 miles to the east.The below results are primarily rent to own homes in Franklin County, NC:
Louisburg holds the distinction of being the site of the last hanging in North Carolina. On July 13, 1894, brothers Calvin and Thomas Coley were hanged on a gallows near the jail. They were convicted of murdering a Jewish peddler two years earlier. A large crowd gathered to watch, and they kicked up so much dust, when a thunderstorm came through, “black” rain fell. The story was retold nearly a century later by author W. F. Shelton in his book The Day the Black Rain Fell.
The town boasts several places on the National Register of Historic Places, including Cooke House (1841), Dean Farm (1842), Fuller House (1856), Massenburg Plantation (1830s),
Louisburg College (1857), the Franklin County Training School-Riverside Union School (1951), and the Louisburg Historic District, which encompasses 206 contributing buildings dating from the late 18th century to the 1920s.
Buying a Home in Louisburg
The median home price, at $99,800, is an impressive 46 percent below the national average. Current listings in the area range from $38,500 to $299,000. Approximately 62 percent of the residential real estate is owner occupied. The overall cost of living is about 15 percent below the national average.
The median age of Louisburg’s residents is 30, and 30 percent of the population is married. The median family income is $72,500.
Louisburg is served by Franklin County Schools. The district is comprised of 15 schools – eight elementary schools, three middle schools, three high schools, and one alternative school. The main office buildings are in Louisburg.
Buying vs. Rent to Own Homes
Louisburg may already have gotten your attention because of its small town southern charm and low housing cost. Dreaming is one thing; the reality is that financing a home can be a long process and requires a down payment and pre-qualification. Maybe you don’t have the funds or think you won’t qualify for financing. No need to give up. Many are taking advantage of rent-to-own opportunities. A portion of each month’s rent goes toward a down payment, and the tenant eventually has the option to buy the home. Renters who may not be able to afford a large down payment can still look forward to being proud homeowners.
Summary
The mild southern climate, with average highs of 51 in January and 90 in August, make this small North Carolina town a pleasant place all year round. It is far enough from large metropolitan areas to retain its friendly, small-town atmosphere. But the big city – with its many opportunities for dining, nightlife, shopping, and entertainment – isn’t far away. The best of both worlds, really. If you’re considering a move, Louisburg should be on the list of possibilities.
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
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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