Rent to Own Homes in Fort Wayne
In spite of its illustrious history, Fort Wayne is notably modern. Locals satisfy their artistic senses at the Fort Wayne Museum of Art, indulge their love of festivals and food at their annual Johnny Appleseed Festival and explore the animal kingdom at the Fort Wayne Children’s Zoo. Even traveling is made easy with the convenient Fort Wayne International Airport, serving more than 600,000 passengers a year.
Buying a Home in Fort Wayne?
It’s a seller’s market in Fort Wayne, according to local real estate experts. While house prices are very affordable, their value is increasing overall. The current median sales price of a home in Fort Wayne is up 4.4 percent to $118,000. The average sales price slipped a tiny .4 percent last month to $138,577, but that’s only after five months of increases ranging from 8 to 15 percent. House hunters have fewer choices as inventory dropped more than 20 percent, leaving 2,460 homes on the market. New listings also decreased by double digits to 1,069.
Popular Neighborhoods in Fort Wayne?
One of the city’s oldest stately neighborhoods is also one of its most popular. The West Central neighborhood brims with historic Prairie, Greek Revival, American Foursquare and Federal homes along brick-paved streets. Beloved by singles and young couples, the neighborhood is close to downtown, plentiful parks and shopping. Similarly, the Oakdale neighborhood appeals to residents who want historic homes, walkable streets and a lively shopping and art scene. Many of the family-friendly neighborhoods are in the city’s northwest and southwest areas, including Westchester Glens and historic Southwood Park in the southwest and Woodland Lake and Woodmont Ridge in the northwest. Families who want newer homes and good schools can also find them in the city’s northeast.
Buying vs. Rent to Own Homes?
Saving for a house down payment takes time, planning and dedication, but you may not have that time if you want to buy a home while house prices are still low. Renting to own can be an excellent option for that situation because it allows you to negotiate a purchase price based on today’s rates, but you won’t finalize the sale until the rent-to-own period is complete. These contracts usually last one to three years, and give you a more formal way to save for a down payment by charging a monthly rent premium that is credited to the down payment. Renting to own also frequently provides for more lax financial requirements.
Cost of Living in Fort Wayne?
Fort Wayne is eminently affordable, offering its residents a cost of living that is 16 percent below the national average. Housing is its most economical living expense, costing locals 58 percent of the country’s average. Utilities and groceries are equally inexpensive at 17 and 7 percent less than the norm respectively. Transportation costs are the only local expense category that is slightly higher than average at 102 percent of the national norm.
At the convergence of the St. Mary’s and St. Joseph rivers, Fort Wayne is a busy but welcoming town of 258,522 residents. The city is known for its beautiful, historic homes that are extremely affordable and located in nice, suburban neighborhoods. Whether you prefer the proximity to downtown that the southwest and northwest neighborhoods provide or the new developments in the northeast, Fort Wayne teems with appealing neighborhoods. Wherever you settle in this All-American City, you’ll enjoy a low cost of living and plenty of purchasing power.
Summary
At the convergence of the St. Mary’s and St. Joseph rivers, Fort Wayne is a busy but welcoming town of 258,522 residents. The city is known for its beautiful, historic homes that are extremely affordable and located in nice, suburban neighborhoods. Whether you prefer the proximity to downtown that the southwest and northwest neighborhoods provide or the new developments in the northeast, Fort Wayne teems with appealing neighborhoods. Wherever you settle in this All-American City, you’ll enjoy a low cost of living and plenty of purchasing power.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.
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