Rent to Own Homes in Laredo
Most families living in Laredo city send their kids to the Laredo Independent School District, and they enjoy child-friendly attractions like the Laredo Little Theater and Imaginarium of South Texas. Children of all ages as well as adults enjoy visits to the TAMIU Planetarium. When it’s time to shop, many head to Zaragoza Street where they can walk down a cobblestone path and dine at a friendly old-school restaurant.
Whether you live in North Laredo or downtown Laredo, you have to get used to hearing a language now referred to as “Spanglish.” This is a unique blend of Spanish and English that results from the mix of Mexicans and Americans living together in this dynamic border town.
Buying a Home in Laredo?
If saving up a down payment is the only thing holding you back from purchasing a home in Laredo, consider using the state’s down payment assistance program. Depending on your income, you could qualify for a down-payment loan of up to $15,000. There are terms that may or may not make this a good idea for you, so it’s important to contact the state and read the fine print before deciding to accept this loan on top of your home loan.
Popular Neighborhoods in Laredo?
If you want to walk or bike to work while living within close proximity of many restaurants and shopping centers, look at homes in some of the historic districts downtown. El Azteca, El Cuatro and St. Peter’s are a few that you may consider.
For budget-friendly homes that are located further from downtown, look in the area around La Pita Mangana Road or the Ranchitos las Lomas Colonia neighborhood. Home prices are often less than $100,000 in both areas. If you can afford to pay closer to $200,000, the Del Mar neighborhood is one of the most popular for families. While some of the most expensive houses are in this area, it’s one of the safest neighborhoods.
Buying vs. Rent to Own Homes?
Are you struggling to put together a reasonable down payment or secure an interest rate that fits your budget? Many potential home buyers struggle with these problems, and they often turn to rent-to-own agreements as a solution. This is a special home-buying agreement that allows you to rent a home prior to buying a home. While you pay your monthly rent, you have the opportunity to improve your credit score and save up a more substantial down payment. You do this while living in the home, so you can get comfortable in your Laredo neighborhood before you secure a home loan.
Cost of Living in Laredo?
The cost of housing in Laredo is more than 30 percent lower than the national average and approximately 10 percent lower than the state average. All other expenses also fall at least 10 percent lower than national averages, making this one of the least expensive big cities in the United States. Even if you buy one of the more expensive homes in the area, you’re likely to get far more for your money than you would in most other cities today.
Laredo, Texas is one of the warmest places to live in the United States, but it’s also one of the cheapest. There are more homes selling for less than $100,000 here than in most big cities across the country, and even low-income residents often enjoy the pleasures of homeownership. The city also boasts an interesting culture that has resulted from sharing the border with Mexico. Locals enjoy authentic Mexican foods, participate in jalapeno-eating contests and festivals, and speak a language now known as “Spanglish.”
Summary
Laredo, Texas is one of the warmest places to live in the United States, but it’s also one of the cheapest. There are more homes selling for less than $100,000 here than in most big cities across the country, and even low-income residents often enjoy the pleasures of homeownership. The city also boasts an interesting culture that has resulted from sharing the border with Mexico. Locals enjoy authentic Mexican foods, participate in jalapeno-eating contests and festivals, and speak a language now known as “Spanglish.”
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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