Rent to Own Homes in Clearwater
The residents of Clearwater enjoy slipping their boats into the water at Clearwater Harbor, which is located close to popular Coachman Park. They use the Clearwater Memorial Causeway to reach the beach whenever they need to relax, and their lives are brightened by the Clearwater Public Arts and Design program. Residents also enjoy the Clearwater public library and take trips departing from the Clearwater Air Park.
If you want to become one of those lucky residents, remember that there's more to the city than Clearwater Beach. The barrier islands offer some of the most luxurious communities, and you can't forget the vibrant downtown area located on the city's mainland.
Buying a Home in Clearwater?
How close to the water do you want to live? You must answer that question before you start searching for a home in Clearwater. While median listing prices for properties on the mainland typically hover around $200,000, the median listing price for beachfront property can easily go over $600,000. If you can't afford those prices but want to live close to the water, consider living a short drive from coast in a neighborhood offering more reasonable prices.
Popular Neighborhoods in Clearwater?
If you want to live near the bay in a peaceful community with well-maintained homes, head to Feather Sound. This is a bay-side community close to the St. Pete – Clearwater International Airport. You will find many small and medium-sized homes in the area, and median prices are typically around $300,000.
For homes under $300,000, look to the neighborhood south of route 586 and north of route 580. If you stay west of McMullen Booth Road and east of Brookfield Lane, you will find a nice area with smaller homes surrounding the Countryside Country Club. Some of the city's best schools are also in this area.
Buying vs. Rent to Own Homes?
If you want to buy a home in Clearwater but aren't ready to put up your down payment and take out a mortgage loan, consider renting your way to homeownership. There is a unique contract that allows you to move into a home as a renter with the intention of purchasing the property in the future. The exact terms of the deal will vary, but you will typically have the right to purchase the property before a specified date.
This agreement is different from the traditional home-buying process because you don't have to apply for a loan right away. You can settle into your new home while saving up for your down payment or taking other steps that may reduce your interest rate when you are ready to purchase the home. This is a good alternative for anyone interested in buying a home in the near future.
Cost of Living in Clearwater?
You may expect the cost of living in Clearwater to come out higher than the national average due to the more expensive homes found near the water, but that is the opposite of reality. The overall cost of living for the city is close to 10 percent lower than the national average, and housing prices are nearly 20 percent lower than the national average. You will also pay a bit less for utilities and groceries than you would in other areas of the country.
Clearwater attracts millions of visitors each year due to the constant sunshine and attractions like Clearwater Beach and the aquarium. Many people decide to live in the area because they fall in love with picturesque neighborhoods like Feather sound, and others appreciate that the downtown area is quieter than many other big cities. While waterside properties are quite expensive, the overall cost of living in this city is lower than the national average and there are affordable homes in most neighborhoods.
Summary
Clearwater attracts millions of visitors each year due to the constant sunshine and attractions like Clearwater Beach and the aquarium. Many people decide to live in the area because they fall in love with picturesque neighborhoods like Feather sound, and others appreciate that the downtown area is quieter than many other big cities. While waterside properties are quite expensive, the overall cost of living in this city is lower than the national average and there are affordable homes in most neighborhoods.
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
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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