Rent to Own Homes in El Cajon
As a vital part of San Diego County, the city provides all residents with access to quality education through the Cajon Valley Union School District as well as access to a variety of jobs in fields from automotive to hardware sales. Many entrepreneurs and small businesses are represented throughout El Cajon, but there aren’t many large corporations with more than 250 employees in this area.
Buying a Home in El Cajon?
While it’s common to see real estate prices well over $500,000 in select areas of El Cajon, the average sales price for homes is in the mid-$400,000s. Regardless of your chosen neighborhood, you can expect to pay at least $200 per square foot, and the most desirable homes will go over that figure substantially. While more than 62 percent of the city’s residents own their homes, that doesn’t mean that some neighborhoods aren’t heavily populated with rental homes that result in heavy turnover of occupants.
While most schools in the area receive high ratings from parents, you may want to select a neighborhood within walking distance of your work if you don’t have private transportation. This is a community that relies heavily on cars to get around.
Popular Neighborhoods in El Cajon?
One of the most popular neighborhoods in El Cajon takes up the northern corner of the city. It’s known as Flinn Springs and is positioned directly north of Kumeyaay Highway between Lake Jennings and the El Capitan Reservoir. The median home price in this area is about $420,000, and most occupants own the home in which they live. This is considered an established suburban neighborhood with a low vacancy rate, and most homes have four or fewer bedrooms.
If you want to live in southern El Cajon, look for homes in the Willow Glen Drive/Dehesa Road area. Median prices are over $800,000 in this neighborhood, but many of the homes are larger and children have access to some of the city’s best schools. The vacancy rate is also less than two percent here.
Buying vs. Rent to Own Homes?
Why stress out over the home-buying process when you can move into a rent-to-own property? While you will still have to go through the process of securing a loan and purchasing your property at some point, you may feel less stressed if you have some time to establish a higher credit score or save up more money for that big life transition. You may start out as a renter, but you know that you will end up a homeowner in the end.
Cost of Living in El Cajon?
Like many California cities, housing prices in El Cajon often double the national average. Most other expenses are typically between 10 and 20 percent higher than national averages, so the overall cost of living is often between 20 and 50 percent beyond average. This means that you may need to budget more strictly than you would in other areas of the country, but this is by far not the most expensive California city. Carefully consider your housing budget so that you can live comfortably even while paying a higher-than-average mortgage payment.
Welcome to southern California’s “Big Box.” El Cajon is a pleasant city positioned less than 20 miles inland from San Diego, and it’s completely surrounded by big mountain ranges. Whether you enjoy hiking or watching the birds through your binoculars, this city will give you almost endless opportunities to explore the natural world. It will also give you a variety of options for employment while providing your children with quality public schools. While the cost of living is higher than average, it’s more affordable than many big cities in the state.
Summary
Welcome to southern California’s “Big Box.” El Cajon is a pleasant city positioned less than 20 miles inland from San Diego, and it’s completely surrounded by big mountain ranges. Whether you enjoy hiking or watching the birds through your binoculars, this city will give you almost endless opportunities to explore the natural world. It will also give you a variety of options for employment while providing your children with quality public schools. While the cost of living is higher than average, it’s more affordable than many big cities in the state.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
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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