Rent to Own Homes in Monroe
Monroe, North Carolina, residents also have a history of cheering on baseball teams like the Monroe Indians. They also keep the city's rich history alive by maintaining a long list of registered historic places, including the Monroe Residential Historic District, the Malcolm K. Lee House and the Monroe City Hall.The below results are primarily rent to own homes in Union County, NC:
Monroe, North Carolina, residents also have a history of cheering on baseball teams like the Monroe Indians. They also keep the city's rich history alive by maintaining a long list of registered historic places, including the Monroe Residential Historic District, the Malcolm K. Lee House and the Monroe City Hall.The below results are primarily rent to own homes in Union County, NC:
Today, some of the most important Monroe attractions include the Stonebridge Golf Club and the Why Not An American Ark. The city is also home to some family-friendly entertainment venues like a petting zoo, movie theater, bowling alley, flea market and antique shop. There are also a few vineyards and brewing companies operating in this area of North Carolina.
Buying a Home in Monroe?
The median listing price for homes in Monroe typically stays below $300,000, and it's common for buyers to pay around $110 per square foot on average. The median home size is around 2,200 square feet, and approximately 80 percent of residents own their homes. If you're moving to the area with children, most of the public schools are rated high by parents. The Union County Career Center is one of the most popular schools for teenagers, and other top-rated schools include Wesley Chapel Elementary and Piedmont Middle.
Popular Neighborhoods in Monroe?
Bridgewater is one of the more prestigious neighborhoods in Monroe. The median listing price for this subdivision is around $600,000, but home prices can go up to $1 million for the larger and more luxurious properties. The community is tucked along the southern shores of Lake Lee and mostly runs north of Lake Stone Drive. For a nice neighborhood with well-maintained homes and lower real estate prices, look on the southwestern edge of Lake Twitty for a subdivision named Mallard Landing. The median closing price is below $250,000 in this area.
Buying vs. Rent to Own Homes?
If you dream of buying a home in the Monroe area, rent-to-own properties may give you the chance that you deserve. You don't have to secure pre-approval for a mortgage loan right away when you go this route because these properties start you out as a renter. You maintain the right to purchase the home in the future, and you typically agree on the sales price in advance. When you're ready to take out a mortgage loan, you purchase the property in which you already live. If you're currently working to boost your financial standing so that you can purchase a home comfortably, this is your chance to move first and buy later.
Monroe, North Carolina, is a growing city with a collection of vineyards and brewing companies as well as many family-friendly entertainment venues. The city has a rich history as a major player in the civil rights movement of the 1950s and 1960s and is now home to more than 30,000 residents. The city has preserved its history through a variety of museums, and it maintains a beautiful historic district with many buildings and homes on the Register of Historic Places.
Summary
Monroe, North Carolina, is a growing city with a collection of vineyards and brewing companies as well as many family-friendly entertainment venues. The city has a rich history as a major player in the civil rights movement of the 1950s and 1960s and is now home to more than 30,000 residents. The city has preserved its history through a variety of museums, and it maintains a beautiful historic district with many buildings and homes on the Register of Historic Places.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
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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