Rent to Own Homes in Glendale
The below results are primarily rent to own homes in Maricopa County, AZ:
Sunny Glendale, Arizona, beautifully blends its past with its future, preserving and enjoying its many Glendale Arizona Historical Society sites while rejoicing in its innovative and exciting sports facilities at the Glendale Sports and Entertainment District. Both are tremendous sources of entertainment, community bonding and growth in this suburban community. Locals enjoy exploring renowned Glendale Arizona historical antiques collections, its charming Glendale Memorial Park Cemetery Caretakers’ House and the old Glendale High School auditorium as much as they thrill at viewing a professional football match-up at University of Phoenix Stadium.
It’s not all play time at this Playful City USA though. The city is serious about its growing tech industry and educational system. Glendale is home to Glendale Community College, the graduate medical school Midwestern University and graduate-level Thunderbird School of Global Management.
Buying a Home in Glendale
Glendale’s housing market is on the move, with median home prices rising 5.3 percent over the past quarter and 9.1 percent over the past year. The current median price rests at $!80,000, $9,000 more than the median price in the previous quarter. The average price of a home sold in Glendale is even higher at $200,268. Currently, house hunters have 787 homes for sale in the area to consider, and 175 of them are new listings. About 900 homes in the area are in the foreclosure process, selling at a median price of $144,501.
Popular Neighborhoods in Glendale
A favorite location for families, executives and those who covet an upscale lifestyle, the Arrowhead communities feature a variety of home options. The luxury homes of Arrowhead have waterfront locations on the neighborhood’s numerous lakes and quick access to the private country club. Families and professionals also enjoy the nice homes, excellent schools, peaceful walking trails and convenient commuting location of Hillcrest Ranch. The neighborhood’s 3,342 residents have increased 2.8 percent in the past year, and the median age of residents is 40. Marshall Ranch also boasts stellar schools, comfortable homes built in the early 2000s and close proximity to the lush and historic Sahuaro Park.
Buying vs. Rent to Own Homes
Buying a home can be stressful, but rent to own homes provide home buyers with a more relaxed pace and less stringent financial requirements that can make the process more pleasant. These arrangements usually last one to three years, during which time the buyer pays rent, a premium on the monthly rent and an initial option fee. Since the rent premium and option fee are often credited to the final down payment, this arrangement is a nice way to save. Renting to own also allows buyers to negotiate the purchase price at today’s rates, a big money-saver in housing markets like Glendale’s that are expected to increase in price.
Cost of Living in Glendale
Unlike many of its neighboring towns, Glendale is actually a very affordable place to live. Residents here will pay 5 percent less on overall living expenses than the average American. Housing costs are 9 percent below the national average, and local goods and services are 8 percent cheaper than the average. Utilities, transportation, groceries are all within one percentage point of the national average. Healthcare is the only expense that is noticeably higher than in the rest of the country, costing Glendale residents about 6 percent more than the national average.
The fun-filled suburban community of Glendale is a favorite of local families who value good schools, superb amenities and beautiful homes. In part, residents are drawn to the city for its terrific home prices that are more affordable than in other nearby towns. Locals are also attracted to the city for its welcoming suburban ambiance and excellent neighborhoods, including Arrowhead Lakes and Marshall Ranch. Residents also save on other living costs here, paying just 95 cents for every dollar that other Americans pay for life’s necessities.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.