Rent to Own Homes in Kissimmee
Kissimmee is located in the playground of Osceola County in central Florida. Positioned approximately 20 miles south of downtown Orlando, the city rests on the northern edge of Lake Tohopekaliga. There are more than five additional lakes in the surrounding area, including West Lake Tohopekaliga, Alligator Lake and Cat Lake.
There are also many smaller bodies of water dotting the city’s landscape, allowing residents to enjoy a variety of water activities throughout the year. While the weather in this area is known for moderate temperatures most of the year, the water does leave many residential areas vulnerable to flooding. After Hurricane Charley hit the city in 2004, many residents had to leave their homes until the Kissimmee Utility Authority restored power and the city recovered from the devastation.
This city was named after Confederate Major J. H. Allen, who was known for his expeditions on the Kissimmee River. Today, the area is known as one of the more scenic areas of Florida’s core. It’s home to the Kissimmee Gateway Airport and a variety of entertainment venues, including the Kissimmee Air Museum and the resort at Give Kids the World Village. Residents also have easy access to surrounding attractions like Gatorland, Legoland and Busch Gardens.
Buying a Home in Kissimmee
When browsing homes for sale in Kissimmee, you can expect to find three-bedroom houses selling for around $200,000 and homes with four or more bedrooms selling for close to $300,000. While median listing prices can go over $200,000 at times, the median sales price is typically a bit below that figure. It’s common for buyers to pay more than $100 per square foot in all neighborhoods, but there are communities where homes sell for a bit less. Since nearly 70 percent of residents own their homes, it’s not difficult to find stable neighborhoods with limited rental properties and reasonable vacancy rates.
Popular Neighborhoods in Kissimmee
One of the most popular and safest Kissimmee neighborhoods is located in the northeastern corner of the city. This area falls along the northern edge of Lake Tohopekaliga and includes Austin-Tindall Regional Park. You can expect median real estate prices around $250,000 here, and there are many large homes with at least three bedrooms that were built after the year 2000.
For more affordable real estate prices, look in the southwestern corner of the city. This area falls south of Lake Marion Creek and extends to Catfish Creek Park and the northern edge of Lake Pierce. You’ll find homes close to the $100,000 price point in this area, and that includes many large homes that were built after the year 2000. The vacancy rate is a bit higher here than in many northern communities, but it’s an affordable option for those interested in larger and newer homes.
Buying vs. Rent to Own Homes
If you’re considering your options for purchasing a home in Kissimmee, don’t forget rent-to-own properties. These homes are on the market for sale just like any other, but they offer a unique payment structure. The current owner often maintains responsibility for the maintenance of the property during your initial rental period. When you’re ready to take out a loan and purchase the property, you assume that responsibility as the new owner. If you need some time to obtain financing for a home but want to move right away, this may turn into an advantageous agreement.
Cost of Living in Kissimmee
Florida often has a cost of living close to the national average, and Kissimmee is typically a bit cheaper than the average. The housing market is often 20 percent or more below the national average, but that is balanced out by average prices for transportation, healthcare, utilities and most everyday expenses. Since the real estate market offers a variety of home sizes and price points, it’s possible to purchase a home and live comfortably even on a modest budget.
Florida tourist attractions and scenic lakes dot the landscape of Kissimmee, and there are quite a few major attractions in nearby cities as well. Located just 20 miles from Orlando and a short drive from the coastal beaches, this is one city that offers residents and visitors nonstop fun. The area is well known for an abundance of lakes, and many residents enjoy active lifestyles with a lot of time spent boating, kayaking, fishing, swimming and simply relaxing by the water.
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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