Rent to Own Homes in Wilkesboro
Wilkesboro is a small town off U.S. Route 421 in the northwestern corner of North Carolina. This location is approximately 35 miles from the eastern edge of the Appalachian Mountains, giving residents an easy drive to attractions in the Cherokee National Forest. Winston-Salem is about 50 miles to the east, Statesville is about 30 miles to the south and the Virginia-North Carolina state line is about 45 miles to the north.The below results are primarily rent to own homes in :
Wilkesboro is a small town off U.S. Route 421 in the northwestern corner of North Carolina. This location is approximately 35 miles from the eastern edge of the Appalachian Mountains, giving residents an easy drive to attractions in the Cherokee National Forest. Winston-Salem is about 50 miles to the east, Statesville is about 30 miles to the south and the Virginia-North Carolina state line is about 45 miles to the north.The below results are primarily rent to own homes in :
The Town of Wilkesboro is home to Wilkes Community College, Cub Creek Park, Westwood Park and Lowe’s Park at Rivers Edge. The MerleFest music festival is held in the city annually, and people travel from across the country to attend. There are still quite a few historic buildings preserved throughout town, including the Wilkes County Courthouse and the Robert Cleveland Log House. There were approximately 200 people living within Wilkesboro town limits in 1880. The town played a prominent role in the American Civil War and has experienced slow but steady growth since it was founded in 1800. In 2016, there were approximately 3,500 Wilkesboro residents. Families are served by Wilkes County Schools, which operates the Wilkes Early College for high school students in addition to the standard public schools.
Buying vs. Rent to Own Homes
Renting to own a home is like a test drive for buying a house. It’s comparable to the car dealership letting you drive out of the lot with the car that you want (after you pay a small option fee) and telling you to come back when you have the money to pay the full price of it, as long as it is within the lease term. Then you make monthly lease payments until you’re ready to buy it.
You should lease-option when you’re close to getting financing for the home you’re looking to purchase, but need a bit more time (1-3 years) before you’re ready. And if you’re unsure about the house, you have more time to consider it from a more personal perspective.
Similarly to test driving a car, once you’re sure that this is the house you want and you have the money to purchase it, you should buy it as soon as possible. There’s no sense in paying rent money for longer than you need to. Rent to own also gives you the flexibility to close on a home whenever you’re ready to. It’s a mix of the best parts of renting and buying.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
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.
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