Rent to Own Homes in Fairfield
The below results are primarily rent to own homes in Solano County, CA:
The city of Fairfield places you less than 40 miles from Sacramento and San Francisco while offering short commute times to Oakland, Napa Valley, Suisun County, Vacaville and many other California attractions. For residents, this means more opportunities for employment, outdoor recreation and entertainment. If you become one of those residents, you may never need to take a vacation because you’re living in one of the most popular vacation destinations in the United States.
Fairfield is located in Solano County north of Grizzly Bay and the Grizzly Island Wildlife Area. It was named by Robert H. Waterman in honor of his hometown, but today it’s better known as home to the Travis Air Force Base, the Anheuser-Busch Brewery Tour and an enviable collection of bike trails, art galleries and hiking trails. You can also look forward to many fun-filled days of shopping at the North Texas Street district or the downtown district.
Buying a Home in Fairfield
While homes in Fairfield are often listed for more than $400,000, the median sales price is typically just under that figure. While there are some homes selling for less, don’t assume that one-bedroom homes will save you money. Some of the more upscale homes in prestigious Fairfield neighborhoods will sell for $1 million or more even with fewer than three bedrooms. In some neighborhoods, you can find larger homes selling for substantially less than one-bedroom homes in those upscale neighborhoods. If you work with a professional experienced in the California real estate market, you will find the perfect home in the right neighborhood for your budget as well as your lifestyle and personality.
Popular Neighborhoods in Fairfield
If you want to live in a low-crime neighborhood close to some of the best schools in Fairfield, consider Green Valley. It’s located in the northwestern corner of the city, west of Suisun Valley Road and north of the Lynch Canyon Open Space. The property vacancy rate is extremely low for this neighborhood, and the majority of homes are occupied by their primary owners. You can expect home prices around $700,000, though some homes will sell for a bit less.
If you want to spend a little less on housing, go south of Green Valley to the Cordelia area. The median home price is around $400,000, but you still have access to quality schools and the city’s business and shopping districts. The property vacancy rate is almost nonexistent in this neighborhood, and most of the homes are occupied by their owners.
Buying vs. Rent to Own Homes
If you like the idea of taking immediate possession of your new home and going through the home-buying process later, you’re the ideal candidate for a rent-to-own contract. This is a unique agreement that allows you to rent a home that you would like to purchase at a future date. You move into the property right away, but you don’t have to finalize the sale immediately. Each contract is different, but you will have until a specified date to secure funding and purchase the home. This gives you time to clean up your credit or shop around for a lender willing to offer you a reasonable interest rate.
Cost of Living in Fairfield
While most goods and services sell for prices close to the national average, Fairfield does have an expensive real estate market. You can expect home prices up to 70 percent higher than the national average, and your utilities may run slightly more than the national average as well. This is common for cities throughout California, but you can still find reasonable prices for groceries and other essentials of daily life. If you need to save money, look for homes without ocean views or commit to a smaller home with fewer amenities.
Fairfield, California, is located a short drive from San Francisco, Sacramento, Napa Valley and many other cities offering jobs, entertainment and shopping opportunities. The city also offers a variety of golf courses, spas, art galleries and trails for hiking and biking. While you may spend a large portion of your budget on housing and transportation, you’ll also spend a lot of time outdoors enjoying the spectacular California weather.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.