Rent to Own Homes in Chandler
Buying a Home in Chandler?
Like many of Arizona’s towns, Chandler’s housing market is recovering nicely from the recent economic downturn. The average selling price of a home in Chandler is now at $290,137, up from $278,119 the prior year. The median selling price increased 6 percent to $255,500 during that same time period. Meanwhile, the number of homes on the market is falling to an inventory of just 2.9 months, down from 3.5 months the previous year. Foreclosures and distressed properties dropped 6 percent in the last year, although there are occasional months of steep increases. RealtyTrac currently reports that there are 792 homes currently in the foreclosure process with a median selling price of $189,000.
Popular Neighborhoods in Chandler?
Dynamic Southern Arizona Boulevard is just part of historic Downtown Chandler’s charm, and the neighborhood’s weekly farmers market, homes with an average selling price of $193,714 and newer apartments for rent attract a fair number of Millennials and young families. A diverse mix of residents, from recent college graduates to families and retirees, enjoy the lovely and varied housing in the Tuscany neighborhood, increasing its population 2.9 percent in the last year. Tuscany is safe and close to plentiful shopping, dining, recreation and good schools. Ocotillo is another favorite neighborhood for its many small lakes, excellent golf course and gated subdivisions. The median age of an Ocotillo resident is 37, and most residents are married.
Buying vs. Rent to Own Homes?
Buying a home in a housing market like Chandler can be daunting, from saving up an adequate down payment to dealing with mortgage brokers. Those who want to jump into the market while prices are still low-ish have an excellent option in rent to own homes. The urgency of buying a home is relieved with a rent-to-own arrangement. During the one-to-three-year contract period, buyers rent the home, paying a small premium on the monthly rent and an option fee rather than an initial down payment. While a down payment is required at the end of the contract, both the rent premium and option fee are usually credited to the down payment.
Cost of Living in Chandler?
Chandler’s housing expenses are 38 percent above the national average, creating higher living costs for residents. Overall, Chandler residents spend $1.13 on life’s necessities for every dollar average Americans spend. Housing isn’t the only higher expense though. Transportation costs and groceries are 6 and 2.5 percent above the national average. These rates are balanced somewhat by the cost of utilities and healthcare, costing locals 8 and 1 percent less than the country’s average respectively.
Named a “Playful City USA” by KaBOOM, Chandler has a decidedly suburban atmosphere with abundant recreation and activities for families and a legendary Ostrich Festival. It is also filled with a wide range of homes, mostly in well-kept subdivisions and master planned communities like Tuscany and Ocotillo. Housing is fairly expensive here and steadily increasing in price. This housing expense contributes to the city’s higher-than-average cost of living.
Summary
Named a “Playful City USA” by KaBOOM, Chandler has a decidedly suburban atmosphere with abundant recreation and activities for families and a legendary Ostrich Festival. It is also filled with a wide range of homes, mostly in well-kept subdivisions and master planned communities like Tuscany and Ocotillo. Housing is fairly expensive here and steadily increasing in price. This housing expense contributes to the city’s higher-than-average cost of living.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
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.
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