Rent to Own Homes in Hialeah
The below results are primarily rent to own homes in Miami-Dade County, FL:
Hialeah is located approximately 30 minutes from Miami Beach in South Florida. Hialeah historian Patricia Fernández-Kelly has given the city some attention for its place in United States history, but most residents move to the city for the sunny climate and beautiful landscape rather than its historical significance. Some residents also appreciate that it’s possible to live in some areas of the city without relying on a car because the public busing system operates Hialeah stations in most neighborhoods.
While driving out to the beach is a favorite pastime of most locals, there are also some fun ways to spend time within city limits. For instance, the best Hialeah park is Amelia Earhart Park. It features five lakes suitable for a variety of water sports and a five-acre dog park. Those more interested in gambling find their place at Hialeah Park Race Track where an active horse-racing community mixes with visitors enjoying the casino.
There are also some activities which are unique to Hialeah, including the Everglades airboat tours offered by Mack’s Fish Camp. Customers are taken out on exciting bass fishing trips and tours of the Everglades while gliding over the water on airboats. This is an experience that locals can enjoy whenever the mood strikes, but it’s an unusual experience that thrills visitors as well.
Buying a Home in Hialeah
For most home buyers, the biggest concern when moving to or within Hialeah is budgeting. It’s best to work with a bank or lending firm to obtain loan pre-approval, and then you should establish your preferred and maximum home prices. Since there are many affordable homes on the Hialeah real estate market most of the time, start by shopping for properties at or under your preferred price. This gives you the flexibility to go up to your maximum price if you fall in love with a more expensive property.
Popular Neighborhoods in Hialeah
Hialeah is often thought of as a suburb of Miami because it is close enough to justify commuting if necessary. It is an independent city, but the neighborhoods aren’t as clearly defined as in many other large cities. Think about areas of the city that you will frequent, and select a home in that region. For instance, you may choose to live near Amelia Earhart Park if you need a safe place to run each morning. If you plan to visit Miami Beach frequently, living in the eastern part of the city will shorten your drive.
Buying vs. Rent to Own Homes
You want to buy your own home, but are you financially ready to give up renting? Homeownership requires you to secure a loan with a reasonable interest rate, pay a down payment, and cover expenses for property inspections and closing costs. This isn’t easy if you’re credit report is flawed or you don’t have a substantial savings account. You must also consider the expenses that come with owning a home, such as renovating so that the home reflects your style and covering repairs as needed.
If you’re not ready for that, you can rent to own instead of buying outright. This is a special agreement that allows you to rent now and possibly own later. The current owner of the property may cover maintenance and repair costs during your rental period, allowing you to take over once you secure a loan and purchase the home.
Cost of Living in Hialeah
The overall cost of living in Hialeah is slightly lower than the national average, and it’s possible to save money on housing expenses. You typically don’t have to look too hard to find homes priced around $200,000 in many areas of the city, and you can sometimes find properties listed at even lower prices. Utilities in the area tend to run slightly less than national averages, so you can live comfortably on a tight budget in Hialeah if you choose your home carefully and conserve electricity.
Hialeah is located approximately 12 miles to the east of Miami, so it delivers fast access to Miami Beach while removing your home slightly from the visitors flooding those beaches daily. It’s common for locals to think of this city as a neighborhood or suburb of Miami, but it is a separate city with a distinct personality. Amelia Earhart Park gives residents a safe place to exercise and enjoy water sports while businesses like Mack’s Fish Camp offer excitement in a special way. Home buyers also appreciate that there are many affordable homes on the Hialeah housing market.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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Reported Annual Crime In Hialeah