Rent to Own Homes in Shawnee
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By the early 20th century, Shawnee was booming with agriculture, including cotton, potatoes, and peaches. In the ten years from 1900 to 1910, the population grew from 3,462 to 12,474. Another surge took place in the 1920s with the Oklahoma oil boom, and by 1930 the population exceeded 23,000. Shawnee suffered with the rest of the country during the depression, and was greatly helped by the New Deal.The below results are primarily rent to own homes in Pottawatomie County, OK:
By... Read More
By the early 20th century, Shawnee was booming with agriculture, including cotton, potatoes, and peaches. In the ten years from 1900 to 1910, the population grew from 3,462 to 12,474. Another surge took place in the 1920s with the Oklahoma oil boom, and by 1930 the population exceeded 23,000. Shawnee suffered with the rest of the country during the depression, and was greatly helped by the New Deal.The below results are primarily rent to own homes in Pottawatomie County, OK:
Today, Shawnee is a city of 31,000. It’s in central Oklahoma, Pattowatomie County, just outside of Oklahoma City. Tulsa is about 90 miles to the northeast, and Dallas, Texas is 200 miles to the south.
Historic downtown Shawnee is an example of “Main Street America” west of the Mississippi. Rather than being built around a town square, as was popular in the east, midwestern and western towns centered around a main street, which became the commercial, manufacturing, and entertainment hub of the town.
Buying a Home in Shawnee
The median home cost in Shawnee is $81,800, which is a full 56 percent below the national average. Current home listings range from $19,500 to $414,000. About 62 percent of the residential real estate is owner occupied. The overall cost of living in this Oklahoma city is over 20 percent below the national average.
Approximately 47 percent of the population is married, and the median age of Shawnee’s residents is 33.5, making it a good place for young families. The median household income is $38,000, and future job growth is projected to be more than 40 percent over the next ten years.
The city is served by Shawnee Public Schools, which is comprised of an early childhood center, four elementary schools, an academy, a middle school, and a high school. The schools are rated from 3 to 8 (out of 10) by GreatSchools, so families with school-aged children should do some investigating before settling on a neighborhood. Private schools are available as well.
Popular Neighborhoods in Shawnee
Shawnee is divided into nine constituent neighborhoods. The residential real estate in the N Bryan Ave/Faith Blvd neighborhood is mainly small- to medium-sized single-family homes and apartment complexes. Most of the homes are owner occupied. It is an upper-middle class neighborhood, and the vacancy rate is quite low. The median home cost is about $188,000.
The largest neighborhood is the Johnson/Family of Faith College area, which extends east of town. The residential real estate is mainly small- to medium-sized single-family homes and mobile homes, and most are owner occupied. The median home cost is about $158,500.
Buying vs. Rent to Own Homes
You may be thinking about a move to Shawnee, but buying a home can be difficult for many; pre-qualification and down payments put it out of reach. Many are taking advantage of rent-to-own options, wherein portion of each month’s rent goes toward a down payment to eventually buy the house. The tenant can then look forward to becoming the homeowner.
Summary
Shawnee is in the beautiful, wide open spaces of central Oklahoma. Nearby is Lake Thunderbird State Park, a popular place for swimming, boating, camping, and other activities. The low cost of housing, family-friendly communities, and proximity to Oklahoma City make it an attractive choice if you are considering a move.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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