Rent to Own Homes in Fremont
The below results are primarily rent to own homes in Alameda County, CA:
Fremont is located in western California on the inner coastline of San Francisco Bay. It’s positioned approximately 18 miles north of San Jose and directly across the bay from East Palo Alto. The city was created in 1956 by merging several neighborhoods in the area. Two of those neighborhoods were Warm Springs and Mission San Jose, and Warm Springs remains one of the most popular neighborhoods in the city today.
Residents of Fremont can choose to send their children to public schools within the Fremont Unified School District or to select a private school with more luxurious amenities. For fun and relaxation, they visit Aqua Adventure Water Park and the Niles Depot Museum. Outdoor recreation is available through a long list of parks in the city, including the Don Edwards San Francisco Bay National Wildlife Refuge, Quarry Lakes Regional Recreation Area and Lake Elizabeth. There are many other parks and wildlife observation areas where residents can walk nature trails, hike, bird watch or enjoy a picnic.
While Fremont is far enough north that temperatures can drop below 50-degrees Fahrenheit in the coldest months, the climate is still comfortable year round. The yearly rainfall is about half the national average, and snow is not a concern for residents.
Buying a Home in Fremont
Before you start searching for a new home in Fremont, spend time working with your budget. The best homes in the city are located in more expensive neighborhoods where prices can soar well beyond a million dollars for a single-family home. Even if you don’t have a multimillion-dollar budget, try to maximize your spending allowance so that you can afford a home in a safe neighborhood located close to good public schools. You may actually spend more on your home so that you don’t have to spend money on private schools for your children.
Popular Neighborhoods in Fremont
A good rule of thumb when shopping for a home in Fremont is to stick to the hills. This refers to neighborhoods in the foothills region, including Mission Hills and Cameron Hills. These areas require a more substantial housing budget, but they also offer a lot of new homes with luxurious amenities appreciated by growing families today. If you need more affordable prices without sacrificing safety and access to good public schools, the Glenmoor neighborhood is a good option.
Buying vs. Rent to Own Homes
You may want to leave your days of renting a home beyond you, but rent-to-own properties are a good opportunity. Consider this the midpoint between renting forever and purchasing a home right away. You find a home that you would like to purchase in the future, but you start out as a renter. During that rental period, you can take steps that strengthen your position when you do apply for a mortgage loan. For instance, you may improve your credit rating by paying off student loans or eliminating credit card debt. When you do decide to purchase the home, you may find that you qualify for a more reasonable interest rate.
Cost of Living in Fremont
Housing is the largest expense for most Fremont residents, and prices can surpass the national average by 70 percent or more. Utilities also exceed the national average by approximately 20 percent, and that increases the expense of home ownership. Though California is known to have higher prices than the rest of the nation, the cost of living in Fremont is approximately 20 percent higher than the state average. If you don’t have a substantial budget, you should think about ways to conserve before moving into the Fremont area.
The cost of living in Fremont is substantially higher than the national average, but many residents consider the warm climate and beautiful terrain well worth the expense. The city is home to a long list of parks, recreational areas and nature refuges, so outdoor enjoyment and exercise is possible from all areas of the city. While there are some affluent neighborhoods where home prices start at a million dollars or higher, many communities offer more affordable single-family homes and condos.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
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.