Rent to Own Homes in Garden Grove
Garden Grove is so much more than its freeway connections though. The United States Census estimates that Garden Grove has 175,140 residents, and the city brims with activities and services to suit them all. From good schools operated by Garden Grove Unified School District to productions at Garden Grove Playhouse, numerous Garden Grove institutions serve the area. Festivals and events are plentiful too. The legendary Garden Grove Strawberry Festival and Miss Garden Grove Scholarship Program and pageant fill every Memorial Day weekend with fun and entertainment.
Buying a Home in Garden Grove?
Home prices have steadily increased in Garden Grove since 2011. Today’s median home price of $477,000 is a 12 percent jump over 2014 prices. In 2014, prices rose a little over 10 percent, and 2013 home prices climbed 14.7 percent. In spite of these increases, Garden Grove homes remain affordable for the area, costing home buyers $150,000 less than in the rest of Orange County. Existing homes make up the bulk of Garden Grove’s housing market, and 65.5 percent of them are single family homes. Foreclosures have dropped 18 percent in the past year.
Popular Neighborhoods in Garden Grove?
Garden Grove doesn’t rigidly define its neighborhoods, but north and west sections of town tend to have larger, more expensive homes. West Garden Grove is well-known for its large ranch-style homes, sprawling front lawns and higher income levels. It’s close to a variety of stores, restaurants and golf courses, and the average home here sells for $537,386. Northeast neighborhoods are close to Anaheim Convention Center and Disneyland, so residents have an ample supply of shopping, dining and entertainment options. The central eastern sections of town have a variety of newly built condos and apartments.
Buying vs. Rent to Own Homes?
Both traditional home-buying methods and rent to own homes are terrific ways to purchase a house, but rent to own homes are more accommodating, especially for those who are first-timers or those who are buying into a market with escalating prices. Rent to own homes don’t usually require superb credit scores or a big down payment, and they let buyers set a price today but finish the sale in the future. Rent to own homes usually require an option fee instead of a down payment and a monthly rent premium. The rent premium and option fee are credited to the buyer’s down payment pool, so when the contract is up, a down payment is ready.
Cost of Living in Garden Grove?
As with most Southern California towns, Garden Grove’s housing costs are 155 percent greater than the national average. Other living essentials are less expensive, with groceries, health care, utilities and transportation costing 7.7 to 15 percent more than in the rest of the country. When all of these expenses are added together, Garden Grove’s cost of living is 55 percent greater than the national average.
Tucked between Anaheim and Westminster, Seal Beach and Santa Ana, Garden Grove is at the heart of northern Orange County. Shopping, dining, recreation and entertainment are plentiful, and the area’s 47,736 homes and housing units give home buyers plenty of options. Homes here range from smaller, modest bungalows to broad ranch houses in established, convenient neighborhoods. While Garden Grove home prices are high by national standards, they offer the most affordable options in Orange County. Similarly, Garden Grove’s cost of living is higher than the national average, but it’s far less than in other Orange County cities.
Summary
Tucked between Anaheim and Westminster, Seal Beach and Santa Ana, Garden Grove is at the heart of northern Orange County. Shopping, dining, recreation and entertainment are plentiful, and the area’s 47,736 homes and housing units give home buyers plenty of options. Homes here range from smaller, modest bungalows to broad ranch houses in established, convenient neighborhoods. While Garden Grove home prices are high by national standards, they offer the most affordable options in Orange County. Similarly, Garden Grove’s cost of living is higher than the national average, but it’s far less than in other Orange County cities.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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