Rent to Own Homes in Wilmington
The below results are primarily...
The below results are primarily rent to own homes in New Hanover County, NC:
Wilmington is a North Carolina city bordering Wrightsville Beach on the North Atlantic Ocean. If you enjoy spending time on the water, note that Masonboro Island and Figure Eight island are also located a short distance from this port city. The Cape Fear River runs along the western edge of the city, and the Wilmington International Airport is positioned to the northwest.
When you move to this sunny city, you have to recognize the overwhelming local support of the Wilmington Hammerheads. This is the professional soccer team serving the local community, and soccer is at the heart of the active sports community in Wilmington. When they aren’t cheering on the Hammerheads or splashing in the ocean, many locals spend their time in downtown Wilmington. You’ll find a series of small businesses in this area, and many people consider this a fun hangout for all ages.
Buying a Home in Wilmington
Before you start looking at properties in Wilmington, decide whether you want to live close to the beach or venture a little further away to see what’s offered on land. Your choice of neighborhood will determine your lifestyle as well as your commute time to some of the best local attractions, and there are residential areas for all types in this diverse city.
While the median sales price for Wilmington homes is just over $200,000 much of the time, you can expect to pay more for upscale properties located close to the water or in other desirable neighborhoods. If you want to purchase waterfront property, look for homes on Wrightsville Beach.
Popular Neighborhoods in Wilmington
River’s Edge is the best neighborhood in Wilmington if you want to live close to the water, the downtown business district and some of the best local schools. This neighborhood is positioned close to Cape Fear River and allows kids to choose between public and private schools. It also gives you a short commute downtown or to a popular golf course while delivering amazing views of the river.
For affordable homes in a family-friendly neighborhood that places you close to the coastal waters, consider Sentry Oaks. You’ll enjoy a short drive to Pleasure Island and several beaches while remaining close to shops and businesses in Wilmington.
Buying vs. Rent to Own Homes
You don’t have to limit your Wilmington home search to those listed on the main real estate market. Some homes are now offering rent-to-own agreements, and you may not hear about these opportunities from your local real estate agent. If you choose to go this route, you will have the opportunity to move into your new home before it’s officially yours.
You start out as a renter, but you have the option to purchase the property before the end of your contract. This gives you time to settle into your new neighborhood and make sure that you want to stick around long term before you make the investment in a home. You can also use the rental period to strengthen your application for a mortgage loan, potentially allowing you to qualify for better terms when you do purchase the property.
Cost of Living in Wilmington
Many coastal cities located close to popular beaches are expensive when it comes to housing, but that isn’t the case with Wilmington, North Carolina. The overall cost of living in this town remains close to the national average, and the cost of housing is often within 20 percent of the national average. You can find affordable prices for foods and most goods and services, and the cost of utilities is reasonable as long as you don’t overuse those resources. You can expect to pay higher prices if you want to buy waterfront property, but there are many homes with excellent views that won’t break your budget.
Wilmington, North Carolina, is a coastal city with affordable housing options and some excellent public and private schools for children of all ages. Located next to Wrightsville Beach on the Atlantic coast, this is one city that will keep you surrounded with fun opportunities for outdoor recreation. There are also a few other islands and beaches within a short drive of the city. If you want to stay close to the business district downtown, consider visiting or living along the Cape Fear River, which is located further inland than the other water features.
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
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 Wilmington