Rent to Own Homes in Brockton

When they aren't cheering on the high school students, residents are often found cheering for the Brockton Rox baseball team. They also take full advantage of well-maintained city amenities, including the Brockton Public Library, the Brockton Fire Department and the Brockton Neighborhood Health Center. There are two villages located within the Brockton area, Montello and Campello. These villages feature independent post offices and commuter rail stations, but they're treated like neighborhoods within the larger community.

Positioned in the southeastern corner of Massachusetts, this city makes it easy to enjoy an active lifestyle. Ames Nowell State Park is located off the northeastern corner of the city, and many residential areas are located near golf courses, playgrounds and community parks.

Buying a Home in Brockton

While the median listing price for homes in Brockton can sometimes exceed $250,000, the median sales price is often closer to $220,000. Many buyers secure loans while paying as little as 2 percent down, and many first-time homebuyers take advantage of down-payment assistance programs available through city, state and federal agencies. While the median price per square foot is typically around $150, you can find more affordable homes in many neighborhoods. More than 60 percent of Brockton residents own their homes, so it's not difficult to find well-established neighborhoods with low crime rates and easy access to public schools.

Popular Neighborhoods in Brockton

For a neighborhood with low crime rates and easy access to some of Brockton's best public schools, look in Marshall Corner. This community occupies the southwestern corner of the city, stretching west of Linwood Street to the city line. Torrey Street is the northern border. The median real estate price is typically close to $300,000 in this area, but you'll find family-friendly streets and a mixture of rental and owner-occupied homes. This is also an established community with a low vacancy rate.

For slightly lower real estate prices in a reasonably safe community, look at the neighborhood just west of the Beaver Brook Beagle Club in the southeastern corner of the city. Most homes in this area sell for significantly less than $300,000, and it's a stable neighborhood with mostly owner-occupied properties and vacancy rates around 3 percent.

Buying vs. Rent to Own Homes

Have you seen any rent-to-own signs in yards around Brockton? Most homes on the market aren't offering this type of agreement, but it's worth the effort to seek them out if you aren't quite ready to secure financing for a new home. You can move into your home as a renter right away while blocking other buyers from making an offer on the property. When you're ready to purchase the home, you go through the traditional home-buying process and become a homeowner. There's no move required at this point, since you're already living in your new home.

Cost of Living in Brockton

Take the national average for virtually any product or service. Add 10-20 percent to that average and you have the price most commonly paid by Brockton residents. This area is approximately 20 percent above the overall national average for cost of living, but that's still slightly more affordable than the Massachusetts average. There are ways to snag a bargain in this city, making it possible to live comfortably even on a tight budget.

Summary

If you dream of buying a home in a family-friendly community with a reasonable cost of living and multiple opportunities for outdoor recreation, Brockton, Massachusetts, may suit you perfectly. Known as the “City of Champions,” this is a well-developed city with a lively heart for sports. The local high school has an exceptional sports program, two well-known boxers were born and raised here, and the residents love cheering on their local baseball team. While the cost of living can go a little beyond the national average, this is still one town where you can live comfortably without a substantial income.

Rent to Own Realtors

Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.

Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.

About Our Listings

When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.

While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.

When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.