Rent to Own Homes in Lubbock
The below results are primarily rent to own homes in Lubbock County, TX:
Lubbock serves as the seat of Lubbock County in northern Texas. The city is located between Amarillo and Midland, and both cities are less than a two-hour drive away. Under leadership of the Lubbock City Council, the city offers several options for adults interested in furthering their education. Texas Tech University, originally known as Texas Technological College, is located in the center of town. Lubbock Christian University is another option.
While Joyland Amusement Park is a big attraction for residents as well as visitors, the museums of Laredo steal the show. World War II military glider planes are on display at the Silent Wings Museum, and Texas Tech University operates a museum with a planetarium and natural science research lab. The American Wind Power Center is a unique museum that explores wind power technology.
For fun and entertainment, residents can enjoy live performances at the Cactus Theater. The City Bank Auditorium and Coliseum presents a variety of theatrical performances and musical concerts throughout the year, and celebrities often appear for special performances as well. In the hot Texas climate, these indoor venues are popular year round.
Buying a Home in Lubbock
Lubbock has one of the easiest real estate markets to understand. You don’t have to search too hard to find properties that fit your budget because there are neighborhoods that suit every budget. There are established neighborhoods that have been around for generations as well as newer communities with updated properties. Most areas feature residential communities with playgrounds, trails and other amenities that are considered a luxury in some large cities today.
Popular Neighborhoods in Lubbock
If you’re looking for a family-friendly neighborhood with nearby parks and access to quality schools, look in the Rushland Park subdivision. This area is often referred to as Rush and features luxury homes with large trees and beautiful landscaping. Basketball courts, volleyball courts and a jogging trail are all centrally located for residents to enjoy. Similar neighborhoods include Tanglewood and Cain Terrace.
If you can’t afford a luxury home but want to live on a tree-lined street, consider Melonie Park. Home prices vary, but you can find many properties under $200,000. You can also find some affordable homes in the Shadow Hills neighborhood. It’s located around a golf course, so you always have a relaxing way to spend your free time.
Buying vs. Rent to Own Homes
The standard home-buying process requires you to save a down payment and apply for a home loan through a bank or lending company. Depending on your credit rating, you may or may not secure an interest rate that is favorable to your budget. This is a stressful process that not all potential buyers survive, and that is why rent-to-own contracts are now growing in popularity.
This is a special agreement that allows you to start out renting your home. Part of your rental payments are sometimes saved in a separate account so that you can use the money as part of your down payment. You will have the obligation to purchase your home before a deadline if you want to make the property your own.
Cost of Living in Lubbock
The cost of housing in Lubbock is approximately 30 percent lower than the national average and 10 percent lower than the state average. Since utility prices are also below the national average, you don’t have to offset your savings with high electricity bills. Prices on store products, groceries, services and transportation are all under national averages, resulting in a budget-friendly community where low-income residents can live comfortably.
Lubbock is located in northern Texas and is one of the best cities for anyone living on a tight budget. With low housing prices and affordable goods and services, it’s possible to stretch your budget and live comfortably even with limited income. The city is home to Texas Tech University as well as many interesting museums, including the American Wind Power Center. If you enjoy the heat and want to live in beautiful Texas, Lubbock has a neighborhood that will fit your personality and lifestyle.
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
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.