Rent to Own Homes in Arvada

Known as the “Celery Capital of the World,” the city was founded as a farming community and was greatly influenced by key figures like Hiram Arvada Haskin. With architectural preservation and a long line of small businesses, the downtown area is still as charming as a small town many years in the past. This area is also referred to as the Arvada Historic District or Olde Town and is home to many community festivals designed to bring residents together. This is a community that supports small business owners, and it’s an ideal setting for entrepreneurs.

One of the most prominent sections of Arvada today is Ralston Creek. This is a revitalized area that was formerly known as the Arvada Triangle. In an effort to restore the vibrancy that was once present in the region, the Arvada Urban Renewal Authority is reintroducing businesses and entertainment venues to create a modern community with dining and shopping opportunities. This is just one area that you may consider calling home if you’re planning a move to Arvada.

Buying a Home in Arvada

When you browse homes for sale in Arvada, expect to see prices between $400,000 and $700,000. There are some lower-price options on the market at times, but you will find that many homes selling for less than $300,000 are smaller and will often need some renovation before your move-in date. It’s common for homes in this city to receive five or more offers before a final sale is made, so you may want to make a swift offer if you find a home that is perfectly suited to your needs. Working with a real estate agent familiar with the area will increase your chances of finding the best properties soon after they are listed.

Popular Neighborhoods in Arvada

The most luxurious homes tend to fall in the western half of Arvada with the most expensive properties in the northwest corner. This neighborhood is often called Leyden Junction or Wallace Village and is centered around the Rocky Flats National Wildlife Refuge. It’s also just north of Standley Lake, so you get a lot of beautiful terrain and outdoor recreation for the higher cost of living in the area. The median home price here is typically around $500,000. If you’re looking for a nice area with lower home prices, look more toward the center of the city where prices are often below $400,000.

Buying vs. Rent to Own Homes

You’re ready to purchase a home, but you know that you’re not in the optimal position to receive the best interest rate on your loan. Alternatively, you know that you want to make the move to Arvada but aren’t sure what part of the city is best suited to your lifestyle and professional goals. These are common problems for Colorado residents, and many find that rent-to-own properties are the ideal solution. These properties come with a unique contract that allows the buyer to start out as a renter, so you have the option of purchasing the home or moving out at the end of the rental phase.

While the goal is to purchase a home that you love in an area of Arvada that suits your budget as well as your personal life, you may not want to jump into the full home-buying process immediately. Rent-to-own agreements will help you move in the direction of homeownership without pushing you into the paperwork right away. Consider it the slow and steady path to owning your next home.

Cost of Living in Arvada

The state of Colorado is a close comparison to the average cost of living experienced throughout the United States, and Arvada is no different. While the cost of housing is approximately 30 percent higher than the national average, that is balanced out by lower-than-average prices for utilities, transportation, food and other daily expenses. You can also control your housing expenses by shopping for homes in less luxurious areas of the city or buying a smaller home in one of the more prestigious neighborhoods.

Summary

Arvada, Colorado, started out as a farming community dependent on the agricultural industry, but it’s now better known as a safe harbor for entrepreneurs and small business owners. The downtown area has the charm of a small town many years in the past and features many restaurants and small businesses operated by locals. Since the city is located just 12 miles from Denver, residents can also commute to the big city for employment while keeping their home life simple in a less congested neighborhood. Living in Arvada also places you within close proximity to the Rocky Mountains, so prepare to enjoy the great outdoors.

Rent to Own Realtors

Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.

Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.

While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.

About Our Listings

Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.

Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.

If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.