Rent to Own Homes in Olive Branch
The Olive Branch area is considered to... Read More
The Olive Branch area is considered to be a part of the Memphis Metropolitan Statistical Area and is one of the fastest growing cities in the United States. The local economy is mainly driven by local businesses which include Olive Branch Printing and regional offices of Holiday Inn. Because Memphis essentially borders Olive Branch, the local economy is also benefited by the city's geographical location.The below results are primarily rent to own homes in DeSoto County, MS:
The Olive Branch area is considered to... Read More
The Olive Branch area is considered to be a part of the Memphis Metropolitan Statistical Area and is one of the fastest growing cities in the United States. The local economy is mainly driven by local businesses which include Olive Branch Printing and regional offices of Holiday Inn. Because Memphis essentially borders Olive Branch, the local economy is also benefited by the city's geographical location.The below results are primarily rent to own homes in DeSoto County, MS:
Downtown Olive Branch is home to a historic district that celebrates the city's past. Many old buildings from the 1940's and 1950's still stand, giving the city a quaint small-town feel. A good local school system makes this a nice area for young couples who are considering starting their own family, and the cost of living is slightly lower than it is in many areas of the United States.
Buying a Home In Olive Branch?
With more than 72% of all housing units in Olive Branch being owner occupied, the local market can be competitive. The median home price in the city is $163,000, slightly below the national average. Those who opt for a traditional mortgage can expect to pay approximately $1,377 each month.
It is common to find modern homes in Olive Branch. Almost 95% of the housing units in the city are less than 25 years old. The homes in the city also tend to be built for families, with more than 84% of them being medium-sized to large with three or more bedrooms.
Popular Neighborhoods in Olive Branch?
The Goodman Rd/Alexander Rd neighborhood is located in the center of town and offers many exceptional home values with prices being below the city median. Residents in this neighborhood tend to be urban sophisticates and a large number of them are married couples. It is a quiet neighborhood that is walkable and in close proximity to a wide variety of retail establishments. The Handy Corner/Miller neighborhood on the city's east side is an upscale development with homes in the $200,000 median. It is generally regarded as the city's quietest community. More than 60% of its residents are married couples.
Buying vs. Rent to Own Homes?
Because housing costs in Olive Branch are very much in line with the national average, qualifying for a home can be challenging for first-time buyers. One potential way to avoid having to qualify for a standard home loan is for buyers to consider a rent to own housing unit. These units are obtained similar to a standard rental, but a large portion of each month's rent is applied to eventual ownership. Should the renter/buyer have a change in their circumstances or wish to pursue another home, an exit can be easier.
Cost of Living in Olive Branch?
Overall, the cost of living in Olive Branch is 6% lower than it is across the United States. Housing costs, however, are on a par with the national median. Healthcare and transportation offer the most value while utilities are 3% lower than they are in other U.S. cities. Those considering a move to this city should have incomes that are in line with the country's median.
Olive Branch, Mississippi offers small town charm coupled with a modern housing market that is geared toward accommodating family units. The city's proximity to Memphis provides a strong local economy where most families earn the median income of the United States. Good schools and many local attractions and activities are a big part of why individuals choose Olive Branch as a place to raise their children.
Summary
Olive Branch, Mississippi offers small town charm coupled with a modern housing market that is geared toward accommodating family units. The city's proximity to Memphis provides a strong local economy where most families earn the median income of the United States. Good schools and many local attractions and activities are a big part of why individuals choose Olive Branch as a place to raise their children.
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
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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