Rent to Own Homes in Wilson
The below results are primarily rent to own homes in Wilson County, NC:
Wilson, North Carolina occupies a beautiful section of the state’s Coastal Plains region and is one of North Carolina’s fastest-growing cities. It is located 40 miles east of Raleigh along the I-95 corridor and is the seat of Wilson County. Wilson is one of most visually appealing cities in the United States thanks to its mix of old and new homes and buildings. The city was named for Colonel Louis D. Wilson and chartered in 1849.
Wilson is one of the smaller major cities in North Carolina, having an area of just 23 square miles. Since 1990, the population in Wilson has been steadily increasing thanks to the availability of homes in new subdivisions. Families in particular have gravitated to Wilson, and the Wilson County school system is regarded as one of the best in the state. There are 25 K-12 public school campuses. Healthcare in the city is mainly provided by the Wilson Medical Center which has a 330-bed main facility and multiple specialty clinics.
Wilson has many local attractions which are recognized on the National Register of Historic Places. Among these are the Wilson County Courthouse, Old Wilson Historic District, and East Wilson Historic District. The city is ethnically diverse and includes families of many races that all lend a touch of their own culture to Wilson’s patchwork demographic.
Buying a Home in Wilson
Wilson has an energetic housing market that has been spurred by the construction of modern homes in beautiful new subdivisions. There are roughly 19,000 housing units in the city, and almost 10,000 individuals and families own their own home. Given the success of the local housing market, prices have attained a $132,000 median which is slightly higher than the national average.
Almost two-thirds of homes in Wilson are large with three or more bedrooms. An overwhelming number are modern, with 86% being built after 1990. The median monthly mortgage payment for residents of Wilson is $1,277.
Popular Neighborhoods in Wilson
Wilson contains twelve major neighborhoods. In most cases, neighborhoods tend to be a mix of white-collar and blue-collar families. One of the most affordable and quiet Wilson neighborhoods is Evansdale which occupies the southern part of the city. Homes in Evansdale present a remarkable value with a median price of just $75,000. A large number of the residents of Evansdale are single, making this one of the more trendy areas of the city.
Wiggins Mill sits in the southeast corner of Wilson and is a suburban neighborhood with an equal number of married couples and singles. More than half of the residents of this community are between the ages of 45-65. It is a quiet neighborhood with retail markets and other shops that are within walking distance. The average home in Wiggins Mill has a value of approximately $115,000.
Buying vs. Rent to Own Homes
Because of Wilson’s in-demand housing market, it can sometimes be hard for new homeowners to qualify for a traditional mortgage. Thankfully, there is an alternative. A rent to own home offers significant advantages that can help families find a home of their dreams in Wilson. Unlike a standard rental, which can cost upward of $700 per month in Wilson, a rent to own home allows singles and families the opportunity to apply a portion or all of each month’s rent toward ownership. A rent to own home also offers buyers an easier way out should they outgrow the home or face a move due to work or other circumstances.
Cost of Living in Wilson
Overall, living in Wilson is 7% less expensive than the national average. Goods and services, healthcare, groceries, transportation, and utilities are all virtually on an even par with costs across the United States, but housing costs are 13% lower than the national average and 10% lower than the average across North Carolina. This makes Wilson an ideal location for first-time home buyers.
The elegance and charm of the Carolinas is on full display in Wilson, an ethnically-diverse city that has a high employment rate, good school system, and affordable housing. With many local attractions and a rich history, Wilson is a city that families will find especially appealing. There are also many trendy neighborhoods which are occupied by a majority of college-educated, career-driven singles. This jewel of the Coastal Plains is growing in population each year, and new homes are in abundance.
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
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.