Rent to Own Homes in Sherman

Sherman now contains around 40,000 residents and is home to Austin College and a campus for Grayson County College. Most elementary, middle and high school students attend schools operated by the Sherman Independent School District, which includes Sherman High School. There are some private schools serving the city, and all students can make use of the Sherman Public Library. This education system has evolved significantly from the 1800s when the city was served by the Sherman Male and Female High School and gender-specific establishments like the Sherman Female Institute.

Buying a Home in Sherman

Median listing prices tend to stay below $300,000 in Sherman, and the median home size is around 2,500 square feet. You can expect to pay less than $150 per square foot on average, but there are some neighborhoods that command much higher prices. More than 60 percent of residents own property in Sherman, and there are many established neighborhoods with low resident turnover rates.

If you’re moving to this area with younger children or teenagers, some of the best schools include Fairview Elementary and Piner Middle. Sherman High is the city’s only public high school, but there are some private schools in town.

Popular Neighborhoods in Sherman

One of the most popular Sherman neighborhoods is located on the western side of the city, surrounding Fairfield Park. It mostly falls south of West Lamberth Road, west of North Travis Street, north of West Washington Street and east of North Heritage Parkway. You can expect median real estate prices around $150,000 in this community, and there are some rental properties in the area.

For more affordable home prices, go to the Tribune neighborhood in the southwestern corner of the city. You’ll find homes selling for under $100,000 in this community.

Buying vs. Rent to Own Homes

Before you buy a home in Sherman, open your search to include rent-to-own properties. Not all homes on the market will offer this type of contract, but it’s becoming more common due to intense consumer demand. This is a good option if you want to give yourself a little more time before you have to officially purchase your home. You move in as a renter, and in some cases, a portion of your rental fee is used later toward the purchase of the property. When you’re ready to apply for a mortgage loan, you take over as owner of the home.

Summary

Head north from Dallas or Fort Worth, and you’ll come across a smaller city named Sherman in approximately one hour. This town is home to nearly 40,000 residents who enjoy a quiet community with a variety of local museums, historic sites, parks and golf courses. Many residents are attracted to this growing city because the crime rates are lower than in many surrounding cities and it’s easy to find affordable housing.

Rent to Own Realtors

Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.

Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.

That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.

About Our Listings

Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.

Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.

In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.

Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.

Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.

Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.