Rent to Own Homes in Lumberton

Lumberton is a small town with many small shopping centers and restaurants, and there are some family-friendly businesses in the city as well. This includes the Exploration Station learning center for children and Carolina Peddlers Country Mall, which is a great place to look for antiques.

Buying a Home in Lumberton

This southern North Carolina city gives you many options if you're searching for homes under $100,000. Property prices tend to hover around this figure, but that doesn't mean that there aren't some luxury homes listed for more than $300,000 at times. This buyer-friendly market allows most consumers to find large homes with at least three bedrooms for around $200,000, and you can buy fixer-uppers for much less than $100,000. More than 60 percent of residents own their homes, so you shouldn't struggle to find established communities with low rental property rates.

Popular Neighborhoods in Lumberton

Mayfair is one of the more popular Lumberton neighborhoods for families as well as active singles and couples. The community is established with some new constructions as well as older homes, so you'll find a variety of home prices in the area. Residents have easy access to the nature trails at French Park and Woodside swimming pool, and the community tends to attract people who want to spend time outdoors and maintain their property well. If you're searching for the best place to build a customized home, you can't go wrong with the prestigious neighborhood known as The Oaks.

For the best schools and lowest crime rates, stick to neighborhoods on the western side of the city. You'll find many small communities with cheap homes in this area as well as more upscale neighborhoods with larger and newer homes.

Buying vs. Rent to Own Homes

Are the low housing prices in Lumberton tempting you to apply for a mortgage loan? Don't assume that going through the standard process of applying for pre-approval first is your only path to ownership. You can escape the rental rat race by investing in a rent-to-own home. These properties allow you to rent the property with the intention of securing a loan and making it your own in the future. You will have a designated period of time to do so, and you can use those months or years to improve your financial standing. This may allow you to qualify for a lower interest rate, which will lower your monthly payment and make your home more affordable.

Cost of Living in Lumberton

The cost of housing in Lumberton often drops about 40 percent below the national average. Even though most consumers pay average prices for other expenses, the overall cost of living tends to sit 10-20 percent below the national average. If you select your home carefully, this is one city that will allow you to live comfortably even if your income isn't substantial. With average rental prices often rising above $800, many residents find that purchasing a home is more affordable in terms of monthly payments.

Summary

Lumberton, North Carolina, may seem like just another small town in southern America, but it has a history of raising NFL and MBL stars as well as a short list of actresses and actors. The city is positioned on the edge of the Lumber River and is within three hours of many larger cities, including Raleigh, Charlotte and Columbia, South Carolina. Residents enjoy a short drive to several beaches along the Atlantic coast and some family-friendly local attractions. From museums to learning centers designed for children, this is a small town that attracts families searching for a safe place to settle down.

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

Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.

Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.

If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.