Rent to Own Homes in Spartanburg
The city itself is cozy... Read More
The city itself is cozy but part of the much-larger 320,000-person Spartanburg metropolitan statistical area. Supporting this population are top employers like Spartanburg Regional Medical Center, Spartanburg County School District 7, QS/1 Data Systems and Advance America.The below results are primarily rent to own homes in Spartanburg County, SC:
The city itself is cozy... Read More
The city itself is cozy but part of the much-larger 320,000-person Spartanburg metropolitan statistical area. Supporting this population are top employers like Spartanburg Regional Medical Center, Spartanburg County School District 7, QS/1 Data Systems and Advance America.The below results are primarily rent to own homes in Spartanburg County, SC:
Innovation and excellence are the hallmarks of many of the city’s endeavors. A recent renaissance of downtown Spartanburg created a new hub of activity, featuring bustling small businesses, large national corporate headquarters, open-air plazas and a steady stream of events.
The city is also home to the first four-time national blue-ribbon school, Spartanburg High School. It boasts Upstate’s only physical charter school, Spartanburg Preparatory School, and a variety of private schools. Spartanburg also supports seven colleges, including the highly regarded Wofford College and Converse College.
Buying a Home in Spartanburg?
There’s no time to waste if you’re considering buying a home in the Spartanburg area. While homes remain incredibly inexpensive here, prices are slowly rising, and the available inventory is decreasing. Over the past year, Spartanburg median home prices jumped 4.4 percent to $141,000 and the average sales price increased 4.7 percent to $159,348. Buyers still have a little bargaining power during the sales negotiation, though, as most homes sell for about 96 percent of their original asking price. To encourage local home purchases, the City of Spartanburg provides a Homeownership Institute that assists buyers with all aspects of becoming a homeowner.
Popular Neighborhoods in Spartanburg?
If you love the vibe of a historic downtown where you can catch plenty of live music, farmers markets and festivals, then Hampton Heights is the neighborhood for you. Hampton Heights is a few minutes’ walk to downtown, and it’s close to Irwin and Willow Oaks parks. For all of their cozy charm, homes in this historic neighborhood are affordable, too, ranging from $50,000 to $170,000. Established professionals and families also enjoy the spacious vintage homes in Converse Heights, near Spartanburg High School and the popular Rail Trail. Homes are a bit more expensive in this neighborhood, with condos priced at $50,000 to $65,000 and single family homes valued at $169,000 to $475,000.
Buying vs. Rent to Own Homes ?
While conventional home purchases are sometimes difficult to manage with a mediocre credit rating or a small down payment, rent to own homes provide welcome relief. Rent-to-own arrangements allow you the luxury of buying a home now even if your financial situation isn’t completely ready. This is especially helpful in markets like Spartanburg where homes are appreciating and you need to lock a home in while prices are low. Ultimately, rent-to-own arrangements give you extra time to build a down payment, coordinate financing and settle into your new home.
Cost of Living in Spartanburg?
If you’re looking for an inexpensive place to settle down and enjoy life, Spartanburg is a good place to start. Spartanburg’s affordability begins with very low housing costs that are about half the cost of homes in other cities. Health care, utilities and transportation are also cheaper than the national average, saving Spartans 2 to 8 percent. While food costs are slightly above the national average, Spartanburg residents can expect to save 14 percent on overall living expenses in this picturesque town.
Spartanburg nearly sparkles with small town verve and charm. Its thriving downtown is a popular business, social and entertainment hub, creating a picture-perfect hometown that attracts families and singles alike. Part of the city’s considerable appeal is its stable housing market and low home prices. Other necessities are inexpensive here, too, so just about everybody can enjoy a full and satisfying life here. In addition to inexpensive living, Spartans appreciate a number of inviting neighborhoods with plenty of historic allure.
Summary
Spartanburg nearly sparkles with small town verve and charm. Its thriving downtown is a popular business, social and entertainment hub, creating a picture-perfect hometown that attracts families and singles alike. Part of the city’s considerable appeal is its stable housing market and low home prices. Other necessities are inexpensive here, too, so just about everybody can enjoy a full and satisfying life here. In addition to inexpensive living, Spartans appreciate a number of inviting neighborhoods with plenty of historic allure.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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