Rent to Own Homes in Longmont
While the Longmont City Council is known for approving the development of a municipal fiber-optic network in 2013, the Longmont Area Economic Council works hard to attract local employers. The downtown area has been fully revitalized, and there are many medium-sized business providing jobs in a variety of industries. The St. Vrain Valley School District, Longmont United Hospital and the City of Longmont continue to provide many jobs as well.
If you want to call Longmont home, you can keep up with the local news by following the Longmont Compass online or reading the Longmont Times-Call. You'll also want to get acquainted with the breweries and pubs as well as popular hot spots like the Old Longmont Library, Johnson's Corner and the Dizzy Family Fun Center.
Buying a Home in Longmont?
The real estate market in Longmont varies from modest single-family homes, condos and mobile homes that sell for well under $300,000 to spacious new constructions worth more than $2 million. You can find farms with large country homes as well as modern homes with upscale amenities.
Your starting point is to determine whether you want to live in a suburban neighborhood on a tree-lined street, in a rural area with some acreage, or somewhere in between. The next step is to watch the market until you find a home for sale in Longmont that meets your lifestyle as well as your budget.
Popular Neighborhoods in Longmont?
If you want to live in a family-friendly neighborhood with a suburban vibe, look for homes in the Spring Valley subdivision. It's located on the western edge of the Ute Creek Golf Course and includes more than 250 homes, all governed by the Ute Creek Homeowner's Association. This is an established neighborhood located near an elementary school, multiple grocery stores, a coffee shop and some restaurants.
Can you pay at least $600,000 for your home? If so, you may find the luxurious, spacious homes in the Somerset Meadows development more attractive. You'll find this community in the southwestern region of the city, just off Airport Road south of Clover Basin Drive. This is the place to turn for newer constructions or to create your dream home from blueprint to reality.
Buying vs. Rent to Own Homes?
Buying a home in Longmont is the goal of many residents and newcomers, but it's also a stressful experience if your finances aren't ready for close inspection. This is why many consumers are now looking for rent-to-own homes. Rather than securing financing right from the start, this contract allows you to start out as a renter and work your way toward homeownership. When you're ready to officially purchase the property, you don't have to move because you're already settled into your home.
The terms of a rent-to-own agreement vary, but you can expect to have a year or longer to secure funding and purchase the home. You can use the rental period to strengthen your financial standing so that you qualify for more favorable mortgage loan terms.
Cost of Living in Longmont?
Since the cost of housing in Longmont can soar 30-60 percent above the national average, the overall cost of living is usually 10-30 percent above average. Utility rates are often slightly lower than national average, and many residents spend less than average on transportation. It's not difficult to find affordable food, and other goods and services are typically close to the national average. This all balances out to a slightly higher-than-average cost of living for most residents. If you can find a home that fits securely within your budget, it's not difficult to live comfortably in this family-friendly city.
Longmont may seem like a sleepy Colorado town on the surface, but it's actually a dynamic community with many spirited residents. The city is well known as home to multiple small breweries and has a thriving arts community. It's also loaded with family-friendly neighborhoods located close to beautiful parks and lakes. Add a revitalized downtown area and a growing list of local employers, and you see why many people are proud to call Longmont home.
Summary
Longmont may seem like a sleepy Colorado town on the surface, but it's actually a dynamic community with many spirited residents. The city is well known as home to multiple small breweries and has a thriving arts community. It's also loaded with family-friendly neighborhoods located close to beautiful parks and lakes. Add a revitalized downtown area and a growing list of local employers, and you see why many people are proud to call Longmont home.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
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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