Rent to Own Homes in Fort Worth
The below results are primarily rent to own homes in Tarrant County, TX:
From the Fort Worth police to the Texas Motor Speedway, Fort Worth is one city that hits headlines across the country on a routine basis. This is a Texas community focused on sports, including the rodeo, NASCAR and the Texas Rangers baseball team. When they aren’t cheering on their local teams, residents are often found outdoors enjoying the southern sunshine. The Fort Worth Zoo and Fort Worth Botanical Garden are popular hangouts, but many residents simply enjoy biking and walking on the Trinity Trails which create scenic paths in various sections of the Fort Worth area.
Other popular outdoor destinations include the Fort Worth Nature Center and Refuge and the Dallas-Fort Worth National Cemetery, even though the cemetery is located within Dallas city lines. Of course, a visit to the Fort Worth Stockyards National Historic District is always a guaranteed good ol’ time. When the Texas sun becomes too much, there’s always the Modern Art Museum of Fort Worth to enjoy.
Buying a Home in Fort Worth
While you may plan your moving date around intense winter weather in other areas of the country, you have to plan around the heat when moving to or within Fort Worth. The hottest months of the year are June, July and August, so you may want to plan around those dates to ensure you aren’t risking a heat stroke trying to get your belongings into your new home.
Many new residents start looking for homes in Fort Worth or Dallas because they are only about a 30-minute drive apart. These are actually two very different cities, so you want to select the one that’s best for your lifestyle. While Dallas is the mecca for nightlife and entertainment, Fort Worth is appreciated for its more laid-back style and abundance of close-knit communities that feel more like small towns.
Popular Neighborhoods in Fort Worth
There’s a common misconception that Fort Worth is a big city with homes on small lots, but that’s not entirely true. You can find homes with acreage if you move to the outskirts of the city in neighborhoods like Benbrook and Lake Worth. To find more areas with a rural setting, just take a drive out west on I-30. The further you venture toward the city line, the more isolated the neighborhoods become.
Downtown Fort Worth is full of condos and apartments and has a dense population, but you can find craftsman-style homes just south of the city center in the Magnolia neighborhood. This area still delivers the big city vibe, and that includes a variety of small ethnic restaurants. If you’re home shopping on a budget, you can stay close to the city and get a deal if you go to the intersection of the Arlington Heights and West 7th District neighborhoods. You’ll find affordable homes in parts of both neighborhoods with the lowest prices found in some areas of Arlington Heights.
Buying vs. Rent to Own Homes
Buying a home is a big move because it puts you in debt for years to come. It’s often more affordable than renting in terms of monthly payments, but you also assume responsibility for upkeep of your property. If you want to own a home but need some time to work up to making the purchase, ask about contracts that allow you to rent for a period of time with the intention to buy later. This is a rent-to-own contract, and it allows you to move into your home fast even though ownership won’t occur until a later date.
Cost of Living in Fort Worth
Fort Worth is similar to many big cities across the United States when it comes to current cost of living. Prices in the housing market remain favorable to buyers with the index showing average prices approximately 25% lower than the national average. The cost of housing is also a bit lower than the state average, so you can get some good real estate deals if you buy a home at this point. Indices for other expenses reveal a cost of living closer to the national and state averages with transportation and utilities sitting at the top as the largest expenses for most residents.
While Fort Worth and Dallas are often thought of as one big area due to close proximity, they are two cities with distinct flavors. Fort Worth has a more relaxed atmosphere and is home to some of Texas’s most noteworthy sports teams. Sporting events extend beyond the typical sports to include the rodeo and NASCAR. Housing costs are much lower than national and state averages, and neighborhoods range from densely populated downtown communities to rural homes with acreage and everything in between.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.