Rent to Own Homes in Shelby
U.S. Highway 74 runs... Read More
U.S. Highway 74 runs through uptown Shelby and provides access to a growing business district that helps to support a strong local economy. Many events are held in Uptown Shelby including the popular Alive After Five outdoor concert series. The city is also home to the American Legion World Series for high school baseball programs around the world.The below results are primarily rent to own homes in Cleveland County, NC:
U.S. Highway 74 runs... Read More
U.S. Highway 74 runs through uptown Shelby and provides access to a growing business district that helps to support a strong local economy. Many events are held in Uptown Shelby including the popular Alive After Five outdoor concert series. The city is also home to the American Legion World Series for high school baseball programs around the world.The below results are primarily rent to own homes in Cleveland County, NC:
Shelby native Don Gibson is just one of many famous former residents. Other notable individuals from Shelby include legendary boxing champion Floyd Patterson and NBA Hall of Fame player David Thompson. As one might expect, the schools in Shelby encourage youth sports participation. This makes the area one of the best places in North Carolina to raise a family.
Buying a Home in Shelby
The median price of a home in Shelby is $120,200. This is lower than both the state and national average, making the city an affordable place to buy a home. Less than half of the city's housing units are owner-occupied. This creates many opportunities in the local market. More than 70% of homeowners in the city invest less than 30% of their income in housing.
About 22% of the homes in Shelby are older. These units can have an appeal to those who are willing to consider homes that may require some repairs. The remaining units were built after 1990, and many of them are less than 15 years old. Families will appreciate that homes in the city tend to be large. More than half of them have three or more bedrooms and vast living space.
Popular Neighborhoods in Shelby
The Light Oak community on the east side of Shelby offers affordable homes in a quiet setting. The neighborhood is in close proximity to major retail outlets. It is primarily inhabited by older married couples, although a small percentage of residents are college students. The Lattimore/Kingstown neighborhood on the west of Shelby has homes with a median value of $100,000. This is far below the state and national average. Most residents of this neighborhood are married and fall into the 30-64 age bracket.
Buying vs. Rent to Own Homes
Individuals that are interested in purchasing their own home soon become aware that the process can involve many challenges, not the least of which is qualifying for a mortgage. This can be especially difficult for first-time buyers. Sometimes, a viable alternative for these individuals is a rent to own home. Prospective buyers can rent the home with an option to purchase it at a later date. In most cases, a portion of the monthly rental fees can be applied to the cost of ownership.
Summary A great school system and many sports activities for young people make Shelby one of the most family-friendly cities in North Carolina. Located in the western portion of the state, Shelby offers easy access to Charlotte and other major cities. Many old homesteads in Shelby are on the National Register of Historic Places, and the city has a quaint feel that is associated with America's charming small towns.
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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