Rent to Own Homes in Searcy
Once the scene of Civil War fighting, Searcy, AR has rich history spanning more than a century and a half. Roughly 50 miles northeast of the capital city of Little Rock, AR, and about 100 miles west of Memphis, TN, Searcy is today recognized as a thriving college town. Its population sits around 23,700, and according to some census estimates and development projects, is expected to... Read More
Once the scene of Civil War fighting, Searcy, AR has rich history spanning more than a century and a half. Roughly 50 miles northeast of the capital city of Little Rock, AR, and about 100 miles west of Memphis, TN, Searcy is today recognized as a thriving college town. Its population sits around 23,700, and according to some census estimates and development projects, is expected to grow in the coming years. Residents here enjoy year-round great weather, affordable housing in great neighborhoods, numerous outdoor recreational activities, the best of fine arts, and many volunteer opportunities. Searcy’s unique history and modern college town feel create a small, close-knit and very friendly culture—just one of the reasons why aspiring homeowners ought to consider this southern city.
Buying a Home in Searcy, AR
Aspiring homeowners looking to settle in Searcy will find a touch of historic architecture across the city. A case in point is the Georgian-style courthouse. Its construction began as far back as 1850 and still stands today. Most of the homes here, though, have been modernized—built mainly between the 1970’s and onward. The median price of homes in Searcy currently stands at $139,000, lower than both the state and Little Rock averages of $149,900 and $163,000 respectively. Rent prices here, on average, hoover just under the $1,000 mark as is the case for the state and region. Home values, too, across the state, according to Zillow, are expected to rise 2.9% within the next year.The below results are primarily rent to own homes in White County, AR:
Once the scene of Civil War fighting, Searcy, AR has rich history spanning more than a century and a half. Roughly 50 miles northeast of the capital city of Little Rock, AR, and about 100 miles west of Memphis, TN, Searcy is today recognized as a thriving college town. Its population sits around 23,700, and according to some census estimates and development projects, is expected to... Read More
Once the scene of Civil War fighting, Searcy, AR has rich history spanning more than a century and a half. Roughly 50 miles northeast of the capital city of Little Rock, AR, and about 100 miles west of Memphis, TN, Searcy is today recognized as a thriving college town. Its population sits around 23,700, and according to some census estimates and development projects, is expected to grow in the coming years. Residents here enjoy year-round great weather, affordable housing in great neighborhoods, numerous outdoor recreational activities, the best of fine arts, and many volunteer opportunities. Searcy’s unique history and modern college town feel create a small, close-knit and very friendly culture—just one of the reasons why aspiring homeowners ought to consider this southern city.
Buying a Home in Searcy, AR
Aspiring homeowners looking to settle in Searcy will find a touch of historic architecture across the city. A case in point is the Georgian-style courthouse. Its construction began as far back as 1850 and still stands today. Most of the homes here, though, have been modernized—built mainly between the 1970’s and onward. The median price of homes in Searcy currently stands at $139,000, lower than both the state and Little Rock averages of $149,900 and $163,000 respectively. Rent prices here, on average, hoover just under the $1,000 mark as is the case for the state and region. Home values, too, across the state, according to Zillow, are expected to rise 2.9% within the next year.The below results are primarily rent to own homes in White County, AR:
Popular Neighborhoods in Searcy, AR
Searcy’s six neighborhoods range in median home prices from a low of $62,307 in the easternmost Kensett neighborhood to a high of $162, 679 in the westernmost neighborhood of W Booth Road. The rest of the four neighborhoods have median home prices between $100,475 and $145, 349. W Booth Road, Searcy’s finest and most popular suburban neighborhood, deserves brief mentioning. Average rental prices in W Booth Rd are around $913—certainly not bad for the city’s most expensive and exclusive neighborhood. According to a Neighborhood Scout analysis, most of the homes here are recently built and owner-occupied, school choices are great, and real estate vacancies are 5.1%, suggesting this is safe and stable neighborhood in which families can settle nicely into. Also home to the Searcy Country Club, Searcy Municipal Airport and the U.S. Highway 64, commuters can benefit from its great location.
Buying vs. Rent to Own Homes in Searcy, AR
Time and finances are the biggest factors that typically go into the purchasing of a home. These two factors, however, need not be an obstacle to the aspiring homeowner – or downsizer, retiree, etc. Whatever the buyer profile, aspiring homeowners can benefit from a rent to own option. Allowing said homeowner to first rent the home of their choosing, homeownership can be made possible in no time provided that rental payments and contractual obligations are met. Instead of losing valuable time and money, the exact opposite happens. One’s financial standing can be improved with this arrangement (i.e., pay down debt, improve a credit score, and save for a down payment).
Summary
There are many things going in Searcy year-round. Its college town heritage keeps the city young and alive. With various events and performances to attend at every time of the year, residents definitely have their share of entertainment options to choose from. The many historical sites to visit, volunteer organizations to join, and nature trails to embark on, further provide a litany of options here to choose from. And with a quality of life and cost of living that rivals some nearby cities with bigger names, Searcy is one solid option to consider for any aspiring homeowner in the northern Arkansas area.
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
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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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