Rent to Own Homes in Glendale
The below results are primarily rent to own homes in Los Angeles County, CA:
Los Angeles , CA 90029
Los Angeles , CA 90041
4 Bedrooms, 2 Baths
Glendale , CA 91203
Glendale , CA 91203
Los Angeles , CA 90065
7 Bedrooms, 10. Baths
Los Angeles , CA 90042
7 Bedrooms, 4 Baths
Los Angeles , CA 90042
5 Bedrooms, 3 Baths
Los Angeles , CA 90068
3 Bedrooms, 4 Baths
Glendale , CA 91207
3 Bedrooms, 1 Baths
Los Angeles , CA 90068
4 Bedrooms, 4 Baths
Burbank , CA 91506
8 Bedrooms, 6 Baths
Glendale is a northern suburb of Los Angeles split in half by the Verdugo Mountains. The city is connected to LA by roadway as well as by the Verdugo Mountainway. This dirt road trails along the crest of the mountains from Glendale city to Verdugo Mountain Park in Los Angeles. The mountains are a source of outdoor recreation for residents and attract hikers interesting in difficult and unique terrains. Glendale’s Verdugo Park is a more family-friendly attraction with baseball fields and space designated for picnics and group gatherings.
One of the best shopping malls in the city is the Glendale Galleria. It’s located downtown and is three stories high, offering some of the best boutique and upscale brands for local shoppers. There are also some popular cemeteries in the city, including Grand View Memorial Park Cemetery and Forest Lawn Memorial Park.
Students attending primary school within city limits are served by the Glendale Unified School District unless parents decide to send their children to one of the city’s private schools. Public events and the upkeep of the city is overseen by the Glendale City Council. In addition to close proximity to Los Angeles, the city is closely connected to Burbank.
Buying a Home in Glendale
Glendale has a mountainous terrain which is great for views outside your living room window but not so great for internet and cellular reception. Areas close to the mountains may also feature streets with steep hills and homes built into hills. When searching for a new home in this city, it’s important to think about these details in addition to the basic concerns such as school zones and the square footage of the property. If you work from home or rely on your cell phone and internet a lot, you may want to specify to your realtor that you need a home with adequate reception.
Popular Neighborhoods in Glendale
Adams Hill is one of the more popular neighborhoods in Glendale, but it’s also an expensive area with a median home value over $500,000. The most expensive homes are along the hill, but you can find some less expensive properties as you head downhill. The hillside homes do have garages at road level for easy access, and they often feature balconies looking out to spectacular cliff views.
If you want a larger home with a spacious yard and a family-friendly suburban vibe, look in the Brockmont neighborhood. The median home value in this area is closer to $900,000, and it’s difficult to find listings here because owners tend to stay in their homes for life. A similar neighborhood is El Miradero which is close to a variety of shopping centers and restaurants as well as Brand Park. The median home price in this neighborhood is around $700,000, but some larger homes often sell for more than a million dollars.
Buying vs. Rent to Own Homes
If you find a home you like in Glendale today, you may immediately start thinking about placing a competitive bid and contacting your bank or another lender willing to extend a loan for the property. If your credit rating isn’t spectacular or you don’t have much of a down payment saved up, you could end up with a high interest rate or a complete refusal from your lender. In those situations, a rent-to-own home is an alternate route to home ownership.
You start out as a renter but have the option to purchase the home at a later date. In some cases, you can arrange for part of your monthly rental payments to go into a separate account for use toward your down payment on the home. You can use the rental period to improve your financial standing so that you’re more attractive to lenders. You get to move into your home right now, but this special agreement gives you some time to move through the home-buying process at your own pace.
Cost of Living in Glendale
Glendale is one of the most expensive cities in the United States as well as within California. The cost of living here is approximately 60 percent higher than the national average, and some sources report it closer to 80 percent higher. While California is typically a bit more expensive than the national average, Glendale is approximately 17 percent higher than the state average for overall expenses. This is reflective of the housing market which easily triples the national average for housing. Other expenses are less than 10 percent higher than national averages.
The cost of living in Glendale exceeds national and state averages dramatically, but many residents consider the beautiful mountain views well worth the investment. The Verdugo Mountains consume a lot of land in the city and attract hikers interested in challenging slopes and scenic trails. The Verdugo Mountainway is a dirt trail that connects the city to a large park in Los Angeles, and Burbank is within a 15-minute drive to the north. Many neighborhoods in the city are positioned along hills and close to the mountains, so the window views are spectacular.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
Reported Annual Crime In Glendale