Rent to Own Homes in Des Moines
Many of the city’s biggest attractions are located in West Des Moines, including Drake University, Glendale Cemetery and Water Works Park. River Drive Park straddles the Des Moines River and offers recreational green space on both sides. East Des Moines is home to Grand View University and the Iowa State Fairgrounds.
Downtown Des Moines is a hotbed for businesses in the financial services and publishing industries, so new residents come to town frequently in search of jobs in those fields. The Des Moines Register is the primary news source for the city and offers additional jobs to locals. When they’re not working, residents enjoy visits to the Greater Des Moines Botanical Garden, Blank Park Zoo, Drake Stadium and Wells Fargo Arena.
Buying a Home in Des Moines?
Some areas of Des Moines are within known flood zones, so you’ll need to protect your property against flood damage if you purchase a home within or near those zones. Not all home insurance policies will automatically cover damage from natural floods, so you may have to pay higher insurance prices for homes in these locations. On the bright side, there are some areas of the city on higher ground.
Popular Neighborhoods in Des Moines?
If you like older homes that have been restored to display their classical charm without sacrificing modern conveniences, you’ll love the Sherman Hill neighborhood. The community has its own elementary school and a meetinghouse that includes an art gallery and performing arts center. The homes sell for a wide range of prices, and many young couples are moving in due to the historical feel of the small community.
Families interested in homes built in recent years with access to parks and restaurants are often attracted to the Beaverdale neighborhood. The median home value here is under $200,000, and Riley Park is within walking distance of many homes. Those more interested in living downtown often purchase lofts in the Indianola Hills neighborhood.
Buying vs. Rent to Own Homes?
Do you doubt that right now is the time to buy a home in Des Moines? There are many factors to consider when determining your readiness for such a big step in life, but you do have an alternative to the standard home-buying procedure. Rent-to-own contracts allow you to live in a home right now while buying it at a later date. How much later? Every contract is different, so you have to discuss the terms with the homeowner or leasing agent.
The first phase to this type of agreement is to rent the home. In some cases, a portion of the monthly rental fee is reserved so that you can use it as part of your down payment in the future. Before a specified date, you have the right to secure a loan and purchase the home. At that point, you become the homeowner rather than the renter.
Cost of Living in Des Moines?
The cost of living in Des Moines is approximately 14 percent lower than the national average and almost equal to the Iowa average. While all expenses are five to 10 percent lower than national averages, the housing market is what makes this city an affordable option for budget-conscious residents. Housing prices are 30 to 40 percent lower than national averages, so you can buy a much larger home in many Des Moines neighborhoods than you would get elsewhere. Utilities run about 10 percent lower than the national average as well, and that helps reduce your overall housing expense even more.
What does Des Moines, Iowa offer residents beyond low real estate prices? This city may not make it on many bucket lists, but it does offer beautiful terrain with the Des Moines River flowing straight through the center of town. The Raccoon River also branches out through the western half of the city, providing even more waterside fun for locals. The Iowa State Fair is held here each year, and the downtown area boasts a long list of entertainment venues.
Summary
What does Des Moines, Iowa offer residents beyond low real estate prices? This city may not make it on many bucket lists, but it does offer beautiful terrain with the Des Moines River flowing straight through the center of town. The Raccoon River also branches out through the western half of the city, providing even more waterside fun for locals. The Iowa State Fair is held here each year, and the downtown area boasts a long list of entertainment venues.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
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.
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