Rent to Own Homes in Shreveport
The below results are primarily rent to own homes in Caddo Parish, LA:
In the northwestern corner of Louisiana just over the Red River from Bossier City is a peaceful town called Shreveport. The Louisiana State University Health Sciences Center in Shreveport is the star attraction for the city, but Independence Stadium gets its fair share of attention when college football fans come from all over to watch the Independence Bowl each year. The Hirsch Memorial Coliseum is located close to the stadium and brings many musical performances and other live events to town for those uninterested in football.
Under the direction of the Shreveport city commissioner and city council, downtown Shreveport always offers some form of entertainment.The Shreveport Municipal Memorial Auditorium was built in the early 1900s in support of World War I veterans, but it continues to entertain residents and guests with a variety of live performances today. Many people visit the auditorium just to take pictures because it’s a great example of art deco architectural design. For those with an artistic edge, the R. W. Norton Art Gallery is worth visiting frequently.
For outdoor enjoyment, Shreveport residents head out to Cross Lake. It’s located to the northwest of the city and is a peaceful place for fishing, boating and walking. The local climate offers mild winters with temperatures rarely dropping below 40-degrees Fahrenheit, and the summer highs are generally in the high 80s to low 90s.
Buying a Home in Shreveport
The City of Shreveport offers the HAPPI program to help first-time home buyers with their down payments and closing costs. The program rewards low-income buyers with up to 20 percent of the property’s appraisal value or sale price. You must use lenders approved by the city and meet financial guidelines to qualify for this assistance, so check the city’s website to see if you meet their criteria.
Popular Neighborhoods in Shreveport
Anderson Island is one of the most popular neighborhoods for families interested in a suburban lifestyle. The community features wide streets with beautiful trees and landscaping around older homes, and it delivers easy access to all major roads leading to other parts of the city or into Bossier City. Some of the most affordable Shreveport homes are found in this area. For military families, Bellaire is an affordable neighborhood located near Barksdale Air Force Base.
If you prefer a more affluent area, consider the Azalea Gardens gated community. This is a planned neighborhood where residents take immaculate care of their homes, and it’s located close to shopping centers and two prestigious medical centers. You can expect higher prices along with enhanced security when you live in this community.
Buying vs. Rent to Own Homes
Rent-to-own agreements give you an alternative to the typical home-buying experience. Rather than filling out mountains of paperwork and revealing every detail of your financial history on the spot, this agreement allows you to live in your home while you prepare to take on the buying process. You still have to go through the approval process and secure a loan if you don’t have the money to pay for the home at once, but you don’t have to do it right now. You can spend your rental period improving your financial standing so that you’re qualified for a better interest rate when you do purchase the home. You may also use this time to save up a more substantial down payment, reducing the amount you need to borrow.
Cost of Living in Shreveport
The Shreveport housing index is approximately 25 percent lower than the national average, and some sources rank it close to 50 percent lower. The overall cost of living in the city is about 12 percent lower than the national average and around four percent lower than the state average, so it’s a great place to settle if you live on a tight budget. Not only are homes more affordable here than in many other large cities today, but you can also save on utilities, food and other products that you need to live comfortably.
Shreveport is a northern Louisiana city offering a low cost of living to all residents. The climate in this region allows residents to enjoy outdoor recreation during all four seasons, and the winters are moderate with temperatures typically staying above 40 degrees Fahrenheit. While there are some affordable communities offering older homes and a suburban lifestyle, there are also some gated communities featuring luxury homes for more affluent buyers. Since the cost of housing is significantly lower than the national average, you can expect to get more home for your dollar regardless of your housing budget.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
Reported Annual Crime In Shreveport