Rent to Own Homes in Hillsboro
At that time, Hillsboro was a city of about 7,800 people.... Read More
At that time, Hillsboro was a city of about 7,800 people. Since then about 500 have been added, bringing the present population to approximately 8,300. It’s the county seat of Hill County, about 50 miles south of the Dallas/Fort Worth metropolitan area, and 34 miles north of Waco. Just a couple miles to the west is Aquilla Lake, a man-made reservoir that is a popular place for hunting, fishing, boating, and wildlife viewing.The below results are primarily rent to own homes in Hill County, TX:
At that time, Hillsboro was a city of about 7,800 people.... Read More
At that time, Hillsboro was a city of about 7,800 people. Since then about 500 have been added, bringing the present population to approximately 8,300. It’s the county seat of Hill County, about 50 miles south of the Dallas/Fort Worth metropolitan area, and 34 miles north of Waco. Just a couple miles to the west is Aquilla Lake, a man-made reservoir that is a popular place for hunting, fishing, boating, and wildlife viewing.The below results are primarily rent to own homes in Hill County, TX:
Originally spelled Hillsborough, the town was named for George W. Hill, a surgeon who had moved there from Tennessee. A post office was established in 1854, and the town was incorporated in 1881. Many of Hillsboro’s buildings are on the National Register of Historic Places, including the Hill County Courthouse, Hill County Jail, and Old Rock Saloon. The city is known for its many restored Victorian homes, and the Hillsboro Residential Historic District is on the National Register as well.
The climate, according to the Köppen Climate Classification system, is humid subtropical. Summers are hot and humid, while winters are mild to cool. The average high temperatures are 59 in January and 95 in July.
Buying a Home in Hillsboro
The median home price in Hillsboro is $112,700, which is nearly 40 percent below the national average. Current home listings range from $29,900 to $399,000. About 56 percent of the residential real estate is owner occupied. Overall, the cost of living in this small Texas town is about ten percent below the national average.
Hillsboro is in the jurisdiction of the Hillsboro Independent School District. The district is comprised of two elementary schools (PK-K and 1-3), an intermediate school (4-6), a middle school (7-8), and Hillsboro High School (9-12).
Popular Neighborhoods in Hillsboro
Five constituent neighborhoods make up the Hillsboro area. Cal’s Corner is to the east of I-35. The residential real estate in this area is mainly small- to medium-sized single-family homes and mobile homes. Most is owner occupied, and the residences are established but not old, with many built since 1970. With only 17 people per square mile, wide open spaces characterize this area. The median home cost is about $134,700.
The westernmost neighborhood is the Lovelace/Vaughan area. The real estate landscape is similar to Cal’s Corner, but it’s even less densely populated – only 14 people per square mile! The median home price is about $119,600.
Buying vs. Rent to Own Homes
Perhaps Hillsboro is already tempting you with its small-town charm, wide open spaces, and low cost of housing. Getting financing for a home, however, can be a difficult process, requiring a down payment and pre-qualification. The good news is, there is an alternative. Many are taking advantage of rent-to-own arrangements. A part of each month’s rent goes toward a down payment to eventually purchase the home. Renters who may not qualify for financing or may not be able to afford one large down payment can still look forward to becoming homeowners.
Summary
If you’re looking for a quiet town with plenty of space, mild weather, and low housing cost, Hillsboro may be just the place for you. And if you need what the big city has to offer – dining, shopping, nightlife, entertainment, and employment – the possibilities are endless just a few miles away in the Dallas-Fort Worth metroplex. It’s the best of both worlds!
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
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.
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