Rent to Own Homes in Meridian
The below results are primarily rent to own homes in Ada County, ID:
Meridian is a city located in the southwestern region of Idaho, approximately 10 miles west of Boise and about 18 miles east of the Deer Flat National Wildlife Refuge. The city is second only to Boise in terms of population, but it has also shown substantial growth since 2010. The original Meridian town site was settled by a large family from Missouri, and the city is now home to some of the best Idaho attractions. This includes Old Town Meridian, Meridian Speedway, Settlers Park and the Roaring Springs Water Park.
Residents also enjoy community events held in the open-air Meridian Urban Market. This is a popular place for socializing in the summer, and it also includes a popular farmer’s market that sells affordable fresh goods only available during the warmer months. For outdoor recreation, residents flock to Storey Park, Fuller Park, Champion Park, Bear Creek Park and Renaissance Park. Families also enjoy spending time at the Wahooz family Fun Zone. Those interested in learning more about the city can visit Meridian City Hall Plaza, which displays exhibits revealing interesting details about the historical roots of the immediate Meridian area.
Buying a Home in Meridian
Median listing prices in Meridian can go a bit higher than $250,000 with more affordable properties popping up in some of the city’s established neighborhoods. You can also find luxury homes that sell for much more, so there’s a home for just about everyone in this city. Nearly 80 percent of all residents own their homes, so it’s not difficult to find stable neighborhoods with low vacancy rates and well-maintained properties that are owned by their occupants.
There are assistance programs available for first-time home buyers in Meridian. You have to meet a few qualifications to get help, but many buyers do qualify for down payment assistance. If you’re struggling to save money, check into these programs before you delay your dream of owning a home.
Popular Neighborhoods in Meridian
You’ll find many of the popular Meridian subdivisions along the southern edge of the city. Small communities like Pear Blossom offer newer homes built on large lots while communities like Oakwood Estates offer upscale amenities like swimming pools and pressurized irrigation systems. If you want a home that was built after 2010 or even within the last two or three years, this southern region of the city is where you want to look. This is also the best part of the city for public schools and low crime rates. Other desirable neighborhoods are located in the northwestern corner of the city.
Buying vs. Rent to Own Homes
You can find hundreds of homes for sale in Meridian at any given time, but only a select few will offer you a rent-to-own contract. This is a new way of purchasing a home that gives you more time to obtain financing. You start out as a renter and have the opportunity to purchase the home before the end of your contract. This prevents other buyers from making offers on the property and allows you to move into your new home while preparing for the home-buying process. Once you complete the purchase, you transition from renter to owner.
Cost of Living in Meridian
The cost of housing in Meridian can go a little over the national average at times, but the overall cost of living is often slightly below average. This is due to reasonable prices for utilities, groceries and the goods and services that most people purchase on a daily basis. Many residents also pay less-than-average prices for transportation, and healthcare is comparable to the national average. If you’re house shopping with a tight budget, this is an affordable city to call home.
If you’re ready to move to the southwestern region of Idaho, consider making the family-friendly city known as Meridian your home. Positioned just west of Boise, this is a cozy town that features a variety of local parks and entertainment venues. As a resident, you’ll have access to scenic parks with walking trails and playgrounds as well as the excitement of the Roaring Springs Water Park and the Wahooz Family Fun Zone. While many neighborhoods still have the low-key vibe of a small town, this is one of the fastest-growing cities in Idaho.
Rent to Own Realtors
You can plan a party without an event planner, you can go swimming without a lifeguard, and you can rent to own without a realtor.
That’s important because there isn’t as much money for realtors in rent to own deals as in traditional sales. Therefore, finding a realtor to help you is rare.
While the listed activities might be easier with a professional, they’re all possible without one. To successfully rent to own without a realtor learn all you can about it.
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.
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