Rent to Own Homes in Raleigh
The below results are primarily rent to own homes in Wake County, NC:
Raleigh, also known as the City of Oaks, is the capital of North Carolina and home to the North Carolina State University. Downtown Raleigh and other central areas feature an abundance of large oak trees, offering some shade from the intense summer sun. The winters can get quite cold with at least a few snow and ice storms each year, but this is one place where all four seasons make a distinct appearance.
The PNC Arena attracts large sporting events from basketball to ice hockey, and the Raleigh Convention Center brings many conventions and large exhibits to town. For recreation, many residents enjoy the Raleigh Entertainment and Sports Arena, Pullen Park and the JC Raulston Arboretum. Cultural attractions include the Raleigh Memorial Auditorium, the Marbles Kids Museum and the North Carolina Museum of Natural Sciences.
There are many neighborhoods in Raleigh that deliver pleasant small-town vibes, including North Raleigh. West Raleigh is a registered national historic district and features some of the oldest homes in the city.
Buying a Home in Raleigh
As home to the North Carolina State University and a major attraction for Tar Heel fans during major sporting seasons, some areas of Raleigh have a heavy student population. This may include more nightlife and outdoor activity than some residents want to enjoy, so make sure to select your neighborhood carefully. You may also want to avoid the area surrounding the state capital building and many downtown neighborhoods if you don’t want to battle traffic during rush hour.
That said, there are some small neighborhoods that are quiet and peaceful in Raleigh. Work closely with a realtor familiar with the area, and make sure to specify what type of neighborhood you want to find.
Popular Neighborhoods in Raleigh
If you want to live amongst some of the biggest personalities in Raleigh, head to Oakwood. This is a large residential area located just east of downtown. Many residents work at the state capital building or in other large downtown businesses. Many of the homes were built in the 1800s, but most have been renovated with modern features.
If you don’t mind living in the midst of students and want the pleasure of walking to do your errands, look to the Hillsborough neighborhood. It’s located just west of downtown and close to the university, but it’s also close to a shopping center and many restaurants.
One of the best Raleigh neighborhoods for families is Stonehenge. It’s located in the northern section of the city and is known for community clubs, including a book club and supper club. From holiday parades to Christmas light contests, this is an active community safe for all ages.
Buying vs. Rent to Own Homes
Are you confident in your ability to secure the lowest possible interest rate and purchase the home of your dreams right now? If not, you’re a prime candidate for a rent-to-own home contract. Rather than securing a loan and paying your down payment immediately, this contract gives you some time to settle into your home and save a larger deposit before taking out a loan. You may begin as a renter, but you’ll end up a proud homeowner in the future. Some contracts even help you save up your down payment for the purchase while making rental payments.
Cost of Living in Raleigh
Prices in Raleigh are comparable to national averages. Housing is the largest expense for most residents, but the affordability depends on your choice of neighborhood. While there are some areas that are slightly higher than the national average for housing, lower prices are common in other areas. Prices for most goods and services are at or slightly higher than current national averages. Since some neighborhoods allow you to walk to restaurants and shopping centers, you can save some money by living in a walkable community or investing in a bike.
As the City of Oaks, Raleigh is the capital of North Carolina and home to many active Tar Heel fans. This is a unique city in that a large student population blends in with many government and corporate employees. Some neighborhoods are known for their active nightlife and are magnets for students. Others feature picturesque historical homes with well-maintained lawns and a quiet atmosphere. Choose your neighborhood wisely, and you can even ditch your car in favor of walking or biking in the warmer seasons.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
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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