Rent to Own Homes in Killeen
Many local jobs are supplied by Fort Hood, but a fair number of residents are also employed by public and private institutions like Killeen Independent School District, Central Texas College and Fort Hood Exchange. The City of Killeen is also a major employer, providing jobs in areas such as the Killeen Fire Department and the local police department.
Buying a Home in Killeen?
Killeen home prices are rising slightly, but they remain a bargain compared to most cities. Median home prices inched up .2 percent in the past year, reaching $114,100. That figure also represents a 19.9 percent jump over the past 10 years. The city also has a balanced mix of owned homes and rented homes, with renters occupying 41.2 percent of local homes and owners occupying 40.61 percent of homes. More than one-third of all homes in the area are valued at $100,000 to $100,499, and 20 percent are valued at $80,000 to $99,999.
Popular Neighborhoods in Killeen ?
Families enjoy the established neighborhood of Tanglewood Estates, where homes are spacious, the landscape is mature and the schools are solid performers. Most homes in the neighborhoods were built in the late 1970s and feature brick exteriors and large lots, with prices that are frequently above the city’s average. The Highlands at Saegert Ranch is also a welcoming community with newer homes, prices in the low $100,000s and good schools. If you prefer to live in a more rural community, Harker Heights is a good option.
Buying vs. Rent to Own Homes?
Renting to own a home can often ease the way for new house hunters to buy their first homes. Unlike the conventional method of home buying, renting to own spreads many of the financial tasks over a one- to three-year period. The down payment and home loan is due at the end of the process, but a minor option fee is usually needed to start the process. Rent-to-owners pay monthly rent and a small rent premium, with the premium put toward your closing down payment. You also won’t have to wait for escrow to finalize to be able to move into your new property.
Cost of Living in Killeen ?
It’s tough to find a community more affordable than Killeen. The overall cost of living here is 16 percent thriftier than the average throughout the nation, and housing is an amazing 33 percent less expensive. All other commodities are also cheaper. For every dollar that the average American spends on groceries, Killeen residents spend just 83 cents. Health care, utility and transportation costs are also well below the national average, saving Killeen locals between 2 and 7 percent.
Killeen residents enjoy a high quality of life, and the metropolitan area was ranked 13th in the nation for locals’ sense of well-being and satisfaction. The city is also nationally recognized for its strong employment. It was named the best area in the nation for its business climate, and Killeen was ranked third in the country as the best place for military retirement. When you look at Killeen’s affordable and accessible housing market and very low overall cost of living, it’s easy to see why locals are satisfied with their little piece of Texas. Local residents spend just 84 cents on life’s necessities for every dollar that other Americans spend, and housing prices are even cheaper at one-third of the national average.
Summary
Killeen residents enjoy a high quality of life, and the metropolitan area was ranked 13th in the nation for locals’ sense of well-being and satisfaction. The city is also nationally recognized for its strong employment. It was named the best area in the nation for its business climate, and Killeen was ranked third in the country as the best place for military retirement. When you look at Killeen’s affordable and accessible housing market and very low overall cost of living, it’s easy to see why locals are satisfied with their little piece of Texas. Local residents spend just 84 cents on life’s necessities for every dollar that other Americans spend, and housing prices are even cheaper at one-third of the national average.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
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.
Sign up for one of our free listings so that potential buyers can find you when they look for rent to own homes near me online.
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