Rent to Own Homes in Gainesville
The city itself is made up of about 127,000 residents, but that number nearly triples when you consider the entire Gainesville regional area. Gainesville is the seat of government for Alachua County, and it is its most populous city. The city is governed by a mayor and six Gainesville City Commission officials. Gainesville city limits encompass an area of 62.5 square miles, much of it filled with lush woods.
Buying a Home in Gainesville?
The housing market in Gainesville is strong, with pending and closed sales increasing over last year. While the median sales price of single family homes increased by 4.4 percent to $180,550, the average sales price jumped 13.3 percent. Less pronounced price increases were seen in the condominium and townhome market, with the median price at $105,250 and the average price at $100,205. Another sign that the market is about to tighten up is the fact that inventory of single family homes has dropped 11 percent to 1,053 homes and fell 22.6 percent to 4.5 months of supply.
Popular Neighborhoods in Gainesville ?
If you’re looking for a family-friendly neighborhood with contemporary homes and a strong community atmosphere, consider the Haile Plantation neighborhood. It’s a convenient neighborhood to University of Florida and excellent public schools, and it features homes on generously sized lots. If you are energy-conscious, Longleaf Village may be good a choice for you since the properties are zero energy homes. The community also offers a playground, clubhouse and many other amenities. Buckridge Estates is filled with more modest, older homes near plentiful stores, restaurants and services, and its lower prices make it a good choice for a first-time home buyer.
Buying vs. Rent to Own Homes ?
With rent to own homes, you don’t have to fret your way through a home purchase. Unlike conventional home purchases, rent to own homes ease you into the sale. Once you agree on terms with the seller, you pay a small option fee that eventually is credited to your down payment. You won’t actually need to worry about the down payment until the end of your contract term, which is usually one to three years in the future. A perk for rent-to-owners is that you can move into the property almost right away, and you’ll begin to pay monthly rent plus a small premium. The premium also counts toward your down payment. Once the end of your contract nears, you’ll arrange a home loan and proceed through the typical home closing process.
Cost of Living in Gainesville?
For all its many perks and amenities, Gainesville is beautifully affordable. Here, locals spend 11 percent less on the overall cost of necessities. In fact, nearly all essential commodities are cheaper in Gainesville than in most other cities. Housing is 25 percent less expensive, health care 4 percent cheaper and utilities 2 percent lower than the national average. Transportation and food costs are marginally above the country’s average, but those are negligible when compared to the major savings on housing.
Named the best place to live in North America in 2007 and earning dozens of other accolades, Gainesville is a little slice of heaven in north central Florida. Its schools are nationally ranked, its neighborhoods are well-maintained, and its cultural amenities are diverse. To top it all off, Gainesville provides an accessible housing market for both single family homes and condominiums, and the prices are a fraction of the national average. Those low housing costs contribute greatly to the city’s overall cheap living costs, making Gainesville a favorite city for central Floridians.
Summary
Named the best place to live in North America in 2007 and earning dozens of other accolades, Gainesville is a little slice of heaven in north central Florida. Its schools are nationally ranked, its neighborhoods are well-maintained, and its cultural amenities are diverse. To top it all off, Gainesville provides an accessible housing market for both single family homes and condominiums, and the prices are a fraction of the national average. Those low housing costs contribute greatly to the city’s overall cheap living costs, making Gainesville a favorite city for central Floridians.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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