Rent to Own Homes in Burnsville
The Burnsville Transit Station connects the city to five surrounding suburbs by bus. This makes it easy for residents to commute for entertainment and employment opportunities, but there are also many attractions located within city limits. This includes the Burnsville Performing Arts Center and family-friendly venues like Grand Slam. For outdoor recreation, residents can go fishing or relax on the beach at Crystal Lake. Alimagnet Dog Park offers walking trails and canoeing opportunities, and Lac Lavon Park is the perfect place for a tennis match.
Buying a Home in Burnsville?
Most homes in Burnsville sell for around $100 per square foot. The median selling price for the city as a whole typically stays below $300,000, but there are some upscale neighborhoods where homes sell for much more. The diversity in price points and home sizes will give you a lot of options, but it also means that you should know your maximum spending limit before you start looking at homes for sale.
It also helps to have a list of features or amenities that you must have and those that you would like to have because the Burnsville housing market offers everything from small and medium-sized homes in cozy neighborhoods to large luxury homes and empty lots suitable for custom-built houses. It's common for homes in the best neighborhoods to sell within 60 days on the market, so you should make an aggressive offer when you find a home that fits your needs perfectly.
Popular Neighborhoods in Burnsville?
One of the most desirable neighborhoods in Burnsville fills the southeastern corner of the city. This community surrounds Crystal Lake and falls west of I-35 and south of Southcross Drive East. The median real estate price can spike toward $350,000 in this region, but the neighborhood boasts some of the lowest crime rates in the city and keeps families close to some of the best public schools. You'll also find a number of parks and lakes in the area.
If you want to look at homes priced below $300,000, look north of I-35 in the community west and north of Terrace Oaks West Park. If you stay south of Cliff Road East, you'll find homes selling for reasonable prices in a family-friendly neighborhood with parks and green space in the residential areas.
Buying vs. Rent to Own Homes?
If you want to buy a home in Burnsville without breaking your budget, it's important to qualify for the lowest interest rate possible. This is why so many potential buyers delay applying for pre-approval until they handle delinquencies on their credit report and save a reasonable down payment. If you look for rent-to-own homes in Burnsville, you may get to move into a new home right away.
Rent-to-own properties allow you to start out renting a home that you hope to buy in the near future. You will have some time to work on your credit and research the most favorable mortgage lenders, but you can live in your home in the meantime. It's easy to transition from renter to buyer once you're ready to take out that home loan. If you want to purchase a home within the next two or three years, you're the perfect candidate for these properties.
Cost of Living in Burnsville?
The overall cost of living in Burnsville can go as high as 20 percent above the national average at times. This is largely due to the higher-than-average cost of housing, which is even a bit higher than average for the state of Minnesota. Many residents purchase homes and then carefully budget other expenses in order to enjoy a comfortable lifestyle in this scenic city.
Burnsville is an attractive southern Minnesota city that pulls in many people who want to enjoy an active, healthy lifestyle. There are multiple parks offer canoe rentals, tennis courts, playgrounds, dog parks and walking trails. The Murphy-Hanrehan Park Reserve is located just south of town, and the Minnesota Zoo is positioned just six miles to the east. Add a ski resort and a public busing system that connects to surrounding cities, and you see why this town is considered one of the best places to live within the Minnesota River Valley.
Summary
Burnsville is an attractive southern Minnesota city that pulls in many people who want to enjoy an active, healthy lifestyle. There are multiple parks offer canoe rentals, tennis courts, playgrounds, dog parks and walking trails. The Murphy-Hanrehan Park Reserve is located just south of town, and the Minnesota Zoo is positioned just six miles to the east. Add a ski resort and a public busing system that connects to surrounding cities, and you see why this town is considered one of the best places to live within the Minnesota River Valley.
Rent to Own Realtors
When it comes to contracts, there are usually plenty of loopholes. You don’t want to be blindsided because your counterpart in a rent to own deal knows them better than you do.
A realtor might be the logical person to ask for help with a real estate deal, but instead, you should consult with a lawyer to ensure that your lease-option contract benefits you just as much as it benefits the other party.
Realtors likely will not want to help you with a lease-option because they don’t make a lot of money off of them – at least, they don’t make a lot of money until the end of the lease, and that isn’t a guarantee.
Regardless, a lawyer will have more accurate information about your contracts anyway.
About Our Listings
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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