Rent to Own Homes in Colorado Springs
Colorado Springs is ideally situated at the base of Pikes Peak, just an hour south of Denver, Colorado. The city boasts over 600 thousand residents, who are a diverse mix of Air Force personnel, tourists, Fortune 500 professionals and those who support the city’s vast sports, tourism and recreation economies. General William Palmer and the Colorado Springs Company wanted to create a resort town when they planned the Springs. The recreation, sport, healthcare and tourism industries in the Springs are a natural progression of that plan. The below results are primarily rent to own homes in El Paso County, CO:
Colorado Springs , CO 80906
2 Bedrooms, 2 Baths
Colorado Springs , CO 80920
3 Bedrooms, 3 Baths
Fountain , CO 80817
5 Bedrooms, 4 Baths
Fountain , CO 80817
4 Bedrooms, 2 Baths
Divide , CO 80814
3 Bedrooms, 2.5 Baths
Florissant , CO 80816
1 Bedrooms, 1 Baths
Woodland Park , CO 80863
Colorado Springs , CO 80910
3 Bedrooms, 1 Baths
Colorado Springs , CO 80904
3 Bedrooms, 1 Baths
Colorado Springs , CO 80907
2 Bedrooms, 1 Baths
Colorado Springs , CO 80951
3 Bedrooms, 2.5 Baths
Colorado Springs , CO 80909
2 Bedrooms, 1 Baths
Colorado Springs is ideally situated at the base of Pikes Peak, just an hour south of Denver, Colorado. The city boasts over 600 thousand residents, who are a diverse mix of Air Force personnel, tourists, Fortune 500 professionals and those who support the city’s vast sports, tourism and recreation economies. General William Palmer and the Colorado Springs Company wanted to create a resort town when they planned the Springs. The recreation, sport, healthcare and tourism industries in the Springs are a natural progression of that plan.
Colorado Springs residents enjoy a wide range of amenities and attractions, whether residents are here as part of the Air Force Academy, United States Olympic Training Center, one of the town’s universities or lifelong residents. Local attractions include Old Colorado City, the Garden of the Gods, the Pioneer Museum, Original Colorado Springs Municipal Airport and the United States Air Force Academy.
Buying a Home in Colorado Springs
Locals have fewer options when shopping for a home in Colorado Springs than they did a year ago. Because of the town’s booming economic environment, more people are moving to Colorado Springs. While demand has gone up, supply has remained the same and, for that reason, the price of housing in Colorado Springs has been on the rise.
The Spirit of Colorado Springs
Colorado Springs is home to the flagship US Olympic Center. Many Team USA athletes who compete in the Winter Olympics practice at the facilities and on the high-altitude slopes. Speaking of the slopes, residents of the Springs love them! Many residents are excited to run up to the slopes when it snows for ski season. Residents love to play in the snow during the winter and go hiking, camping and fishing during the summer. While there’s a beautiful view of the slopes from the Springs, the city isn’t in the mountains.
Residents of the Springs beam with patriotism, especially on days when the Air Force Falcons play or the Air Force Academy cadets graduate. If you go to I-25 on these days, you can watch the Thunderbirds fly over in a beautiful display. The Springs are home to the United States Air Force Academy, Peterson Air Force Base and Fort Carson Army Base.
German culture and food are abundant in Colorado Springs. Enjoy celebrating Oktoberfests in the fall, or simply enjoy the restaurants and bakeries open year-round!
The Garden of the Gods park is known for its giant sandstone rock formations. Residents like to ride bike or go horseback riding in the area. Pikes Peak sits in the backdrop of the Springs and the Garden of the Gods. It is the highest summit of the Rocky Mountain southern Front Range. Families love to white water raft in the river, ride the railway and journey through the caves. Adventurers enjoy weekends hiking up the mountain and beauty-seekers enjoy the sights by car.
Pikes Peak is also home to multiple museums, like the Ghost Town Museum, the Western Museum of Mining and Industry or the Miramont Castle Museum. If you’re interested in the fine arts, you’ll have a great time at the Colorado Springs Philharmonic or at Pikes Peak Center for performing arts.
The Downtown area has access to city parks, shopping and dining, sculptures lining the streets, the Colorado Springs Fine Art Center and the Colorado Springs Pioneers Museum. Manitou Springs is a fun place for nature lovers who love hiking, waterfalls and nature walks. Old Colorado City, or OCC, is a historic town on the west side of the Springs where you’ll find great food, a local farmers market and monthly first Friday art walks from April through December when attendees walk through local art galleries and studios. Old Colorado City was the original capital of Colorado when it was a territory.
The Springs have fantastic spas for weekend getaways or relaxation after a long day of work. The city is also home to a large health community. It was rumored long ago that the chemicals in the spring water made people healthier. For that reason, many health centers opened in the area and city residents love living healthy.
Popular Neighborhoods in Colorado Springs
Residents who enjoy luxury homes often choose neighborhoods like the Broadmoor where historic grand estates are just minutes from the Broadmoor resort. A more eclectic mix of gracious and modest homes can be found in the Old North End neighborhood, providing historic architecture, proximity to downtown and access to luxury golf courses.
Singles and young families looking for scenic landscapes and luxury condos can find them in the Rustic Hills neighborhood. If you want to be within walking distance of one-of-a-kind restaurants, work and cultural activities, downtown or Old Colorado City are the places to be. Many military families also appreciate the amenities and closely knit community of Briargate.
Buying vs. Rent to Own Homes
Many home buyers might choose to take the traditional path to homeownership; however, others appreciate the flexibility offered by rent-to-own contracts. Typically, rent to owns last for a one- to three-year long period. They give buyers the opportunity to purchase a home at today’s prices, while giving them time to build up a larger down payment. This is very beneficial for people looking to purchase a home in Colorado Springs. As mentioned above, in recent years, there has been an uptick in demand for housing in Colorado Springs; however, the supply of housing has remained the same. For that reason, home prices are rising. It makes sense to enter a rent to own contract now because you will lock in today’s rate, even though you not might be financially capable of purchasing a home yet.
Rent to own works best for people who are ready to start paying down their debt, saving for the down payment on a home and improving their credit score. The idea behind it is, one of these factors is keeping you from outright purchasing a home right now. You may not qualify for the mortgage or have enough money to put down. However, you know that today’s prices are as good as they’re going to get, all you need is time. A rent to own agreement buys you time.
To rent to own a home is just like renting a home; you make monthly payments. These payments are at a premium rate, however. The overage of money goes into an escrow account to pay for your down payment. The seller continues to pay for taxes and insurance on the home. You pay an option fee so that you have the option to purchase the home at the end of your lease. When the lease is over, you can choose to use the money you’ve saved to make the down payment on the home and secure a mortgage, or you can forfeit the overages you’ve paid to the seller.
Cost of Living in Colorado Springs
Cost of living in Colorado Springs is slightly higher than the national average. Most living expenses, like groceries, utilities and transportation, are cheaper here than in other parts of the nation. However, healthcare and housing are costlier than the national average. Even so, rent is nearly 40 percent cheaper in Colorado Springs than Denver.
Colorado Springs is a picturesque town with unparalleled views. The town has peaceful creeks winding their way through town and majestic Pikes Peak towering above. Its bountiful amenities add to that appeal, often earning the city rankings as the top place to live among America’s big cities. This desirability spurs the price of single family homes here, elevating prices 11 percent during 2015’s first quarter.
Rent To Own Labs provides a diverse set of real estate listings, including rent to own (“lease to own” or “lease purchase”), owner financing, foreclosed, for sale by owner, and rental home opportunities. These listings are available to low-income residents and those with bad credit or no credit, and include both condos & houses. Rent to own homes near me include the list of zip codes we serve in this area: