Rent to Own Homes in Opelousas
Today, Opelousas is positioned approximately 20 miles north of Lafayette, 60 miles west of Baton Rouge and 65 miles south of Alexandria. It serves as the seat of St. Landry Parish and is home to the St. Landry Parish Airport. More than 15,000 residents called the city home in 2010, and some of the biggest employers in the area include the Opelousas General Health System, the Evangeline Downs Racetrack & Casino and the Walmart Distribution Center. Many residents now work in retail or food services.The below results are primarily rent to own homes in St. Landry Parish, LA:
Today, Opelousas is positioned approximately 20 miles north of Lafayette, 60 miles west of Baton Rouge and 65 miles south of Alexandria. It serves as the seat of St. Landry Parish and is home to the St. Landry Parish Airport. More than 15,000 residents called the city home in 2010, and some of the biggest employers in the area include the Opelousas General Health System, the Evangeline Downs Racetrack & Casino and the Walmart Distribution Center. Many residents now work in retail or food services.The below results are primarily rent to own homes in St. Landry Parish, LA:
The Evangeline Downs Racetrack is located just to the east of Opelousas and is one of the biggest attractions in this area of southern Louisiana. Other attractions include the St. Landry Catholic Church, the Louisiana Orphan Train Museum, the St. Landry Parish Visitor Center and the Opelousas Museum & Interpretive Center. Many visitors and residents also enjoy walking or driving through the self-guided Opelousas Historic Walking Tour.
For families raising children in Opelousas, there are some small family-friendly parks and entertainment venues located in town. Parents can choose between public schools like Opelousas Junior High or a few private schools like the Opelousas Catholic School.
Buying a Home in Opelousas?
The median listing price for homes in Opelousas typically stays below $200,000, and it's not difficult to find homes selling for close to $100,000 at most times. The city doesn't have a large real estate market, so you may need to watch the listings closely until you find property that meets your needs. It's common for buyers to pay less than $90 per square foot in some neighborhoods, but you can expect to pay a bit more for larger homes or new constructions in some of the more desirable neighborhoods.
Popular Neighborhoods in Opelousas?
Some of the most popular Opelousas neighborhoods are located along the northern edge of the city, mostly running north of the St. Landry Parish Airport and Northwest High School. Most homes in this area were built between 1970 and 1999 and have between two and three bedrooms, but you can find some larger and newer homes selling at higher prices. The median real estate price is around $100,000, and the crime rates are low.
If you can afford to pay around $200,000 for your home, you may want to look for properties east of route 357 and south of route 104. Some of the highest real estate price are found in this area, but you'll also find more new constructions and luxury homes.
Buying vs. Rent to Own Homes?
Rent-to-own homes in Opelousas may give you the time that you need to improve your financial standing while putting you on the path to homeownership. You start out renting with the intention of purchasing the same home in the future. The amount of time that you're given to make that purchase official will vary, but you can generally expect to have at least one or two years. If you're ready to move but don't want to apply for a loan now, this is a good chance to make your dreams of owning a home come true.
Perhaps the Evangeline Downs Racetrack is the biggest attraction to the Opelousas area in southern Louisiana, but it's the friendly vibe of this small town that encourages more than 15,000 residents to stay long term. The city offers jobs in the medical, retail and fast food industries and is home to some historic buildings and churches. For many new residents, the affordable cost of living is what makes this town a winner.
Summary
Perhaps the Evangeline Downs Racetrack is the biggest attraction to the Opelousas area in southern Louisiana, but it's the friendly vibe of this small town that encourages more than 15,000 residents to stay long term. The city offers jobs in the medical, retail and fast food industries and is home to some historic buildings and churches. For many new residents, the affordable cost of living is what makes this town a winner.
Rent to Own Realtors
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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