Rent to Own Homes in Garland
While many large cities in the United States struggle to provide quality public schools to residents, the Garland Independent School District is extraordinary in many ways. For starters, magnet programming allows students to blend specialized classes with standard courses that all high school students must take. This better prepares them for college and adult life.
Parents are also allowed to choose what school their children attend through the district’s open-enrollment program. For instance, Garland High School students may choose to attend South or North Garland High School. More than 95 percent of students attend their first-choice school each year, making this one of the most satisfying school systems for everyone involved.
Garland is also a great place for adults to live due to a variety of employment opportunities. More than 40 percent of employers are in the metals industry, but there are jobs in many other industries as well. Some of the city’s major employers include Garland Power, Raytheon and the Baylor Medical Center.
Buying a Home in Garland?
The City of Garland does have a first-time home buyer’s assistance program that provides forgivable loans to residents purchasing a home with a limited budget. This is a resource to consider if you find that your budget doesn’t quite stretch far enough to purchase a home in your preferred Garland neighborhood. The program often runs out of funding, so it’s important to stay in contact with the city and get your application turned in quickly when funds are available.
Popular Neighborhoods in Garland?
Shores of Eastern Hills is a popular Garland neighborhood for families. It’s located between Rosehill Park and Lake Ray Hubbard, and homes often sell for $300,000 to $500,000. If you’re interested in new housing developments with reasonable sale prices, look in the area of Firewheel Estates and Firewheel Farms. These communities are developing around Firewheel Mall and are considered some of the best neighborhoods in the city. If you enjoy big city life and want to walk more than drive, consider the downtown area.
Buying vs. Rent to Own Homes?
If owning a home in Garland is your dream but you’re not quite ready to take out a traditional home loan, consider renting now and buying later. Rent-to-own properties offer a special home-buying agreement where you rent the property for a specified period of time with the intention of purchasing before a given date.
The current owner of the home may accept responsibility for maintenance of the property during the rental period, or you may assume those responsibilities. In some cases, a portion of the rental payment is placed in a special account and is later used toward a down payment on the purchase of the home. This is an alternative to the standard home-buying process that gives you some time to prepare for home ownership.
Cost of Living in Garland?
The overall cost of living in Garland is approximately 4.5 percent lower than the national average, and the cost of housing is what drives that number down the most. You can expect to pay 10-20 percent less for a home in this city than you would in other areas of the country. Texas home prices are much lower than the national average as a whole, but not all large cities go this low.
While there are some expensive Garland homes on the market, you can expect to get a larger home with more luxuries in exchange for the higher price. Prices for goods, services, transportation and utilities are more on par with national averages.
Garland is a mid-sized Texas city located less than an hour outside of Dallas. It’s also located within an hour of Fort Worth and Arlington, so residents enjoy an enormous job market just outside of the city’s limits. This is a family-friendly city with a remarkable public school system and many safe neighborhoods with nearby parks and shopping centers. The cost of housing is substantially less than the national average, so even those with limited incomes can live comfortably in many areas of the city. .
Summary
Garland is a mid-sized Texas city located less than an hour outside of Dallas. It’s also located within an hour of Fort Worth and Arlington, so residents enjoy an enormous job market just outside of the city’s limits. This is a family-friendly city with a remarkable public school system and many safe neighborhoods with nearby parks and shopping centers. The cost of housing is substantially less than the national average, so even those with limited incomes can live comfortably in many areas of the city. .
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
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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