Rent to Own Homes in Henderson
Buying a Home in Henderson?
Henderson’s real estate market is a mixed bag of results. While the number of homes sold in the area dropped a little more than 6 percent to 1,851 homes this year, prices have increased. The average home price of $273,996 is a 14 percent increase over last year, and the median price of $241,942 is a 7 percent increase. The cost of single family houses is significantly lower for distressed and foreclosed properties, selling at a median price of $186,000. There are currently 1,331 homes in the foreclosure process.
Popular Neighborhoods in Henderson?
Families, couples and recent college graduates often prefer the city’s many diverse, active communities like Green Valley Ranch and Green Valley South where residents have a unique shopping, dining, entertainment and gathering place in The District. More established families and executives appreciate the custom homes and guard-gated communities of MacDonald Ridge and Seven Hills. There, breath-taking views, appealing golf courses, ample amenities and a private air strip create an exclusive, private ambiance and bountiful entertainment. The city is also home to a number of active adult communities like Siena and Solera at Anthem that invites residents to live in luxury houses and town homes while enjoying the communities’ village centers, golf courses and health and fitness centers.
Buying vs. Rent to Own Homes?
Renting to own a home can offer some price, financial and timing advantages to home buyers. These rent-to-own options differ from buying a home outright in a number of ways. First, most rent-to-own agreements don’t require an immediate downpayment. Instead, home buyers pay a small option fee and agree to finalize the purchase at a future date, usually one to three years. During the contract period, buyers pay a marginally higher-than-normal monthly rent, with the extra rent going toward the final home downpayment. In areas like Henderson where home prices are rising, these agreements can benefit home buyers who commit to a sale price that is consistent with today’s rates, instead of the potentially higher rates one to three years from now.
Cost of Living in Henderson?
Due to Henderson’s relatively expensive real estate market, the expense of living here is slightly higher than the national average. Locals can expect to spend about 8 percent more on living essentials here, with housing costing a resounding 22 percent more than the country’s average. Aside from Henderson’s utilities that are actually 10 percent below the national average, the rest of Henderson’s living expenses are nearly on par with the rest of the nation. Groceries, healthcare and transportation are just 3, 5 and 2 percent higher than the national average.
While geographically close to Las Vegas, Henderson gleams with a character and atmosphere that is all its own. The city’s many affluent, private communities give it an exclusive flavor, and its variety of custom and subdivision homes add to the charm. These pricey, luxury homes and well-off neighborhoods also contribute to the city’s cost of living, which is noticeably higher than the national average.
Summary
While geographically close to Las Vegas, Henderson gleams with a character and atmosphere that is all its own. The city’s many affluent, private communities give it an exclusive flavor, and its variety of custom and subdivision homes add to the charm. These pricey, luxury homes and well-off neighborhoods also contribute to the city’s cost of living, which is noticeably higher than the national average.
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
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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