Rent to Own Homes in Lufkin
Buying a Home in Lufkin?
The average home value in Lufkin is $93,000, significantly less than the $161,700 Texas average. Home prices in Texas have increased 8% over the past year and Zillow predicts they will rise 3.8% within the next year. A good majority of the homes in Lufkin are single-family ranch style. Given Lufkin’s relatively young age most of the homes have been recently built and, as such, have many modern features. Residents can expect a very high quality of life in this very clean, virtually crime free, scenic eastern Texan city.
Popular Neighborhoods in Lufkin?
The S 1st Street / Champions Drive neighborhood in Lufkin is located in the southernmost part of the city. The median real estate price is $179,746 with an average rental price of $1,132. Apartment complexes/high rise apartments and single-family homes dot this commuter-friendly neighborhood. In fact, most of Lufkin is very commuter-friendly with drive times of fifteen minutes or less for most city residents. S 1st Street / Champions Drive is also very diverse racially and ethnically—again, as is the case for the entire city. The vacancy is rate high—20.7%, the highest in the city by far. This, however, can be attributed to the growing population and newer residential properties yet to be occupied. Another notable feature of Lufkin is its family friendliness. Regardless of where they live, residents can expect many engaging outdoor recreational activities. Boating, fishing, camping, hiking, and other athletics are all made possible by Lufkin’s many parks, lakes, country clubs, national forests and grasslands, not to mention, of course, its year-round warm temperatures.
Buying vs. Rent to Own Homes in Lufkin?
Aspiring residents will be pleasantly surprised by the number of housing options that exist in Lufkin. As the city continues to be beautified and developed, its economy expands and, as a result, attracts more people to its borders. This, in turn, creates a demand for housing—and as many real estate listings suggest, quality housing. The very affordable, recently built, spacious single-family homes available for sale are sure to generate much interest among aspiring homebuyers looking to relocate and/or downsize to this eastern Texas city. Prices here are definitely below state and national averages, and with the many housing options that exist, financing need not be a problem. Rent-to-own options are becoming increasingly popular for aspiring homebuyers because they allow said homebuyer to live in the home they would eventually like own provided they pay their monthly rent and meet agreed upon contractual obligations. This unique opportunity allows them to get their finances in order, allowing for greater savings and the improvement of a credit score before agreeing to purchase the home.
Cost of living in Lufkin?
Lufkin’s website perfectly encapsulates the nature of its cost of living and quality of life with these simple words: “Life, Well Run.” Quality housing, safe, clean, vibrant neighborhoods, development projects, environmental responsibility, a business-friendly environment, and employment opportunities are all things the City Manager here maintains as a top priority. Would-be residents, then, can expect superior governmental responsiveness and affordability. Not unlike most small, rural southern cities, the cost of living in Lufkin is lower than the national average and definitely lower than neighboring Houston, Dallas, and San Antonio.
Lufkin in many ways mirrors the state of Texas in which it is located. Just as Texas’ growing and increasingly diversified economy continues to attract new residents, so too is the case for Lufkin. One can expect continued economic expansion and population growth in Lufkin as new developmental projects take shape. As reported in the Lufkin Daily News in a recent article, its unemployment rate is currently lower than what it was last year. The future for Lufkin seems very bright. Everything it has to offer—affordable housing, safe clean neighborhoods, responsive public works, an abundance of outdoor activities, growing commercial developments, all in a historic scenic part of eastern Texas—are all factors sure to keep it going strong.
Summary
Lufkin in many ways mirrors the state of Texas in which it is located. Just as Texas’ growing and increasingly diversified economy continues to attract new residents, so too is the case for Lufkin. One can expect continued economic expansion and population growth in Lufkin as new developmental projects take shape. As reported in the Lufkin Daily News in a recent article, its unemployment rate is currently lower than what it was last year. The future for Lufkin seems very bright. Everything it has to offer—affordable housing, safe clean neighborhoods, responsive public works, an abundance of outdoor activities, growing commercial developments, all in a historic scenic part of eastern Texas—are all factors sure to keep it going strong.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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