Rent to Own Homes in Idaho Falls
The Idaho Falls area is known as home to many parks that offer outdoor recreation and safe trails for exercise. Some of the more popular options include Tautphaus Park, Community Park, Sportsman Park and Esquire Acres Park. When residents aren't spending time outdoors you may find them enjoying the area's many museums, including the Museum of Idaho, the Art Museum of Eastern Idaho and the Collector's Corner Museum.
One of the biggest employers for the city of Idaho Falls is the Idaho National Laboratory. Thousands of people in this area of the state consider the lab their primary source of income. The city also offers a variety of jobs in the healthcare industry, and many residents work in tourism as well.
Buying a Home in Idaho Falls?
You can expect to find hundreds of homes for sale in Idaho Falls at any given time. The average sales price is typically well under $200,000, and those affordable prices allow approximately 80 percent of all residents to own their homes. You can also find many homes in the more exclusive neighborhoods that sell for $300,000 or more, but you should only consider those properties if you can afford to pay more for your mortgage each month. The trick to living comfortably in a city like Idaho Falls is to purchase a home within your budget and then watch other expenses closely.
Popular Neighborhoods in Idaho Falls?
Orvin is one of the most desirable neighborhoods in the city of Idaho Falls. It's located toward the western edge of town and surrounds the Sage Lakes Golf Course. You'll find a mix of single-family homes and mobile homes in this area, and the majority of the properties are occupied by their owners. You can expect to pay around $250,000 for most homes in this community, and this includes some newer homes constructed in or after the year 2000.
Buying vs. Rent to Own Homes?
When you invest in a rent-to-own home in Idaho Falls, you give yourself extra time to prepare for the home-buying process. You live in the home that you would like to purchase in the future, but you start out as a renter. This gives you the opportunity to purchase the property when you're ready to secure financing, and other buyers are prevented from making offers on the home in the meantime. You could end up with a lower interest rate because you took some time to improve your credit rating, pay off old debt or save up a more substantial down payment.
Cost of Living in Idaho Falls?
You can expect to pay below-average prices for most goods and services in Idaho Falls. The housing market will cut you a break by dropping up to 30 percent below the national average at times, and the overall cost of living is often around 10 percent below average. If you're on a tight budget or you want to purchase a larger home than you could afford in some larger cities, Idaho Falls is a good place to call home.
If you want to live in a city surrounded by mountains, consider moving to Idaho Falls. Positioned in the southeastern corner of Idaho, this picturesque town offers a variety of small parks and easy access to multiple mountain ranges in the surrounding area. The Idaho National Laboratory provides thousands of jobs to this region of the state, and employment is readily available in the healthcare, tourism and business fields. Those interested in living active lifestyles with many opportunities for outdoor enjoyment may find this an attractive place to buy a home and settle down long term.
Summary
If you want to live in a city surrounded by mountains, consider moving to Idaho Falls. Positioned in the southeastern corner of Idaho, this picturesque town offers a variety of small parks and easy access to multiple mountain ranges in the surrounding area. The Idaho National Laboratory provides thousands of jobs to this region of the state, and employment is readily available in the healthcare, tourism and business fields. Those interested in living active lifestyles with many opportunities for outdoor enjoyment may find this an attractive place to buy a home and settle down long term.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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