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This occurs when a potential buyer agrees to rent the home for a period of time before buying it from the homeowner. During this period, the buyer pays rent to bring down the overall cost to buy the house. This makes the purchase more affordable to the buyer, while the homeowner is able to bring in a little rental income along the way. Near many houses for rent in Tupelo, residents will find a variety of historic landmarks that demonstrate the community's pride in its past and future. The most famous of these places include the Tupelo National Battlefield and Brices Cross Roads National Battlefield, both of which were important Civil War sites. Tupelo Historic Tours offers several guided walks through the city, reviewing its rich history and the highlights of the city's growth, including the influence of native son Elvis Presley.
There’s a strong presence of Southern hospitality among the friendly and welcoming locals of this community. Of course, music holds an unequivocal role in Tupelo’s culture. Today, the live music scene is kept alive in venues across town. Tupelo’s culture is palpable, and you can taste the zesty southern flavors of the area in famed restaurants such as Kermit’s Outlaw Kitchen and Sweet Tea and Biscuits Cafe. The 38,856 people residing in Tupelo come from all backgrounds- 56.6% are White, 38.3% are Black, 2.6% are Latino, 1% are Asian, and 1% are two or more races. It’s a highly educated city, with 31.6% of residents holding bachelor’s degrees.
Nearby Rent To Own Homes Cities
Some sellers can benefit from entering a rent-to-own agreement. This could be good if you aren’t ready to sell your house now but you want to lock in a buyer. It can also help you bring in income in a slow market where it is hard to find qualified buyers.
There is also the walk of life, a winding path around Elvis' home that chronicles his life. Plus, there are four more reasons that will make your heart sing.
Rent to own Homes in Cities Near Tupelo, MS
For the most memorable experience, you can go to the Vicksburg National Military Park, the site of the actual battle of Vicksburg - a turning point in the Civil War. Tunica, MS, offer some of the best gaming in all of the United States. It's a casino and resort area just south of Memphis, TN. It's home to nine individual casinos, including Sam's Town, Harrah's and Horseshoe.
With a lease-option agreement, buying the house after your rental period is up is optional. However, you will likely forfeit any payments you made to the property. Within Tupelo we have 30 rental houses spread across multiple school districts. To help narrow your search, simply enter the school name within the Rentals.com search bar to find rental homes in that school district. Attempting to purchase a home seems far more daunting than renting to own a home, renting is of course less of a commitment with fewer upfront costs.
More Mississippi Property Resources
Saving on these initial costs can help make owning a home cheaper from the start, thus alleviating the need for a Rent-to-Own agreement. The average overall walking score of neighborhoods in Belden, MS is 0 which means it is a little more difficult to walk to nearby businesses and points of interest. Since it is a little more difficult to get around town in Belden, MS you will definitely need a bike or car to get around. Signup to get full property details including street address, contact information, pricing and nearby comparison sales. Sign up to get full property details including street address, contact information, pricing and nearby comparison sales.
However, be sure to book 48-hours in advance as seating is limited. Check out Tupelo, MS rent to own homes for sale, which may include auction properties, for sale by owner, and more. While this is true, initially renting to own a property can be more expensive in the long term, with a mortgage you pay down the principal and lower your payment.
Understanding Lease-Option Vs. Lease-Purchase
Living in Tupelo means not only being in Elvis' birthplace, but also being near the scenic and historic Natchez Trace Parkway. This meandering parkway and national park stretches 444 miles, linking travelers to Nashville, Tennessee. Motorists, hikers and cyclist are all welcome to roam the trail in an unhurried pace to savor the beauty of this national scenic byway. Taking to the Natchez trail at your leisure is a cinch, as there is a convenient access point right off Highway 78, a major Tupelo thoroughfare. Myladybughomes.com needs to review the security of your connection before proceeding. Discover and understand more about what you can expect for Belden, MS in terms of weather, education levels, income levels and more to get a better feel for the city.
Check out Mississippi rent to own homes for sale, which may include auction properties, for sale by owner, and more. When people think of Elvis' hometown, they often think of Memphis, TN, where he lived as an adult. Elvis was actually born in Tupelo, MS, just 100 miles south of Memphis.
Tupelo, MS is a great place for affordable rent-to-own homes! You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment. It’s up to the homeowner to decide what percentage of the rental income goes toward the purchase of the house. During this five-year period, the buyer will also have time to build up their credit scores and can potentially secure a mortgage because they require less money from the bank.
Jackson, MS, is one of the country's best cities for families. There are so many attractions there that people of all ages can enjoy, including the Jackson Zoo, the Mississippi Museum of Natural Science and the Eudora Welty House. It's the state capital, too, so visitors there can check out the old and beautiful state capitol building. Find Studio, 1 Bedroom, 2 Bedroom, 3 Bedroom, 4 Bedroom rental houses within your budget in Tupelo, Mississippi.
There might be other agreements that you have to follow as a rent-to-own tenant in Tupelo. For example, it’s not uncommon for a tenant to pay non-refundable upfront fees related to the purchase of the house. These range from one to five percent of the total purchase price. For example, if a home would normally sell for $360,000 then a renter might pay $2,000 per month in rent over five years . If $1,000 of that goes towards paying for the home, then the renter would have paid $60,000 over five years.
An extremely quaint country town, Oxford also boasts upscale shops and restaurants on its main street. You can visit William Faulkner's house and try to gain some new insight into the work of the great writer. People don't often think about it, but Mississippi is actually a state with a beach. The south of Mississippi is the Gulf Coast, and while there was extensive damage done to the area during Hurricane Katrina, the beaches are back to their splendor and better than ever. Biloxi, with beautiful white sand and lots of sun, is a favorite among beach-going travelers, and there are lots of homes to buy there, including rent to own. Today, the city continues to thrive due to these points of interest and a robust industrial economy.
Rent to own Homes in Cities Near Mississippi
School service boundaries are intended to be used as a reference only; they may change and are not guaranteed to be accurate. To verify school enrollment eligibility, contact the school district directly. In Old Town Bay St. Louis, a town on the Gulf Coast right next to Louisiana, you'll find a community with a culture all its own.
In some cases, you may be required to buy your rent-to-own property after the lease is up. However, if you have a lease-option agreement you can walk away from the property — but you won’t get any money you put into it back. The best way to find rent-to-own properties in Tupelo is by hiring an UpNest Network Realtor. Skip the “rent to own homes near me” search and use our service instead.
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