Rent to Own Homes in Amarillo
For Amarillo residents more interested in having fun within city limits, the Amarillo area is home to Wonderland Amusement Park, Don Harrington Discovery Center and Splash Waterpark. Horse lovers are also attracted to this city because it’s home to the American Quarter Horse Association and Hall of Fame. There are also some fun museums located downtown Amarillo and in other areas of the city, including the Amarillo Museum of Art and the Panhandle-Plains Historical Museum.
Many live events are held in the Amarillo Civic Center, and Dick Bivins Stadium is the center of sports action for residents. Amarillo College offers two-year educational programs for residents graduating from the Amarillo Independent School District or others coming to the city later in life. Residents have everything they need to live comfortably without leaving city limits, including access to Amarillo National Bank and a variety of shopping centers and malls.
Buying a Home in Amarillo?
Amarillo is located in the Texas panhandle where the weather is dry and the terrain is rather flat and dull. If you dream of living in an authentic cowboy town where agriculture is the star of the economy and the locals enjoy a casual, laid-back way of life, you’re going to fit right in with your Amarillo neighbors. Most neighborhoods throughout the city have a small town vibe, and you’ll even feel like you’re in a small town when you venture downtown.
As you shop for a home, pay attention to nearby entertainment venues and parks if you want to enjoy an active lifestyle away from home. If you’re more interested in farming or owning a spacious home in a rural environment, there are communities suitable for that lifestyle as well.
Popular Neighborhoods in Amarillo?
Sleepy Hollow is one of the most popular neighborhoods in Amarillo because it’s a newly developed area with beautiful modern homes within close proximity to highways and public schools. This area is part of a master neighborhood development plan called The Colonies which is creating desirable communities that are in high demand. Homes may often sell for more than their value in this area because demand is higher than supply at times.
If you can’t get into Sleepy Hollow, consider City View as an alternative neighborhood. It’s also a newer development, and even the schools and local parks are relatively new. You’ll find large homes occupied mostly by families here, and you can expect prices above $300,000. Prices are even higher in the Lake Tanglewood area, but you get a home on the water with boat access in many cases.
If you enjoy hiking and want to spend a lot of time outdoors without wasting much time driving, go to River Falls. It’s close to Palo Duro Canyon State Park, but home prices can go over a million dollars.
Buying vs. Rent to Own Homes?
Are you looking at the real estate listings in Amarillo with dreamy eyes? You may not feel ready to jump into a home loan today, but that doesn’t mean you can’t start your journey toward home ownership right now. Rent-to-own homes allow you to move in right now, but you’re considered a renter. The rental period will last for a specified number of years, and you can use that time to seek out home buyer counseling or take other actions that will improve your ability to purchase a home. Before the end of your contract, you have the green light to purchase the home and transition from a renter to a homeowner.
Cost of Living in Amarillo?
The cost of living in Amarillo is nearly 20 percent lower than the national average and about 10 percent lower than the Texas average. Most of the price break comes from the cost of housing which is about 30 percent below the national average. Some sources even list the cost of housing closer to 40 percent lower than the national average. Utility expenses are about 20 percent below national averages as well, so you can expect to buy a larger home here than you could afford in other cities across the country. If you’re on a tight budget, Amarillo is a good place to settle.
Amarillo is a northern Texas city with a small town, family-friendly atmosphere. Residents enjoy the dry, warm climate that comes with living in the plains of the Texas Panhandle, and neighboring cities Albuquerque and Oklahoma City are close enough to serve as weekend getaways or mini vacations. There are many friendly neighborhoods with spacious homes close to parks, golf courses and schools. Since housing prices are well below national average, you may even enjoy living in one of the gated communities or newer planned neighborhoods.
Summary
Amarillo is a northern Texas city with a small town, family-friendly atmosphere. Residents enjoy the dry, warm climate that comes with living in the plains of the Texas Panhandle, and neighboring cities Albuquerque and Oklahoma City are close enough to serve as weekend getaways or mini vacations. There are many friendly neighborhoods with spacious homes close to parks, golf courses and schools. Since housing prices are well below national average, you may even enjoy living in one of the gated communities or newer planned neighborhoods.
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
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
- 79109
- 79107
- 79106
- 79110
- 79118
- 79108
- 79119
- 79103
- 79102
- 79124
- 79104
- 79121
- 79101
- 79114
- 79120
- 79105
- 79111
- 79159
- 79116
- 79117
- 79187
- 79189
- 79185
- 79178
- 79174