Rent to Own Homes in Miami Gardens
One of the most newsworthy residential communities in the area is Bunche Park. The neighborhood runs between NW 167th Street and NW 155th Street and offers single-family homes at affordable prices for low to medium-income families. While Miami Gardens receives a lot of media attention for excessive violent crime rates, there are some exemplary neighborhoods like Lake Lucerne. The Miami Gardens Police Department also works to keep the community safe.
One highlight of this small community is the popular Antioch Mission Baptist Church of Miami Gardens. It’s located in a neighborhood known as Carol City and has a large congregation with a passion for doing good works in the local community.
Buying a Home in Miami Gardens?
Most homes in Miami Gardens cover approximately 1,000 square feet, and the more expensive homes often offer 1,500 square feet or more. The median listing price typically stays under $200,000, and you can easily find homes selling for $100,000 or less in many areas of the suburb. The median sales price is often close to $150,000, and this is an area known to welcome first-time home buyers and residents at all income levels.
If you’re moving into Miami Gardens with children, make sure to consider which schools your kids will attend before selecting a home. Schools like the North Dade Center for Modern Language receive excellent reviews from parents while other schools are less desirable. There are multiple elementary, middle and high schools nearby, so you have some options when selecting a family-friendly neighborhood and school system.
Popular Neighborhoods in Miami Gardens?
Miami Gardens functions much like an ordinary city, but it is actually a collection of many smaller neighborhoods that share resources. One of the most noteworthy communities is known as Bunche Park. Homes in the area often sell for less than $150,000, so it is considered one of the more affordable areas in southern Florida. This is an established neighborhood with many older homes within close proximity to schools at every level. While Carol City is considered a high-crime area, most residents live peacefully in all communities towards the eastern end of the city.
Buying vs. Rent to Own Homes?
Most people think that they only have two options when it comes to housing. They can purchase a home and maintain the property at their own expense, or they can rent property and allow their landlord to absorb the cost of home maintenance. What many are now discovering is that they actually have a third option, and that is to rent their way to homeownership.
This is exactly what you do when you invest in a rent-to-own property. You start out as a renter with an agreement to secure financing and purchase the home within a designated period of time. The terms vary for each of these agreements, but the current owner of the home often maintains the property until the new renter becomes the official owner. This is a great way to buy a home if you aren’t ready to secure financing but want to move quickly.
Cost of Living in Miami Gardens?
While Florida prices can sometime exceed national averages, Miami Gardens is one place where you can at least save on housing expenses. While the overall cost of living in the city is often cited as slightly above the national average, the housing index falls a bit lower. This makes it possible to stretch your budget by spending less on housing to justify the higher expenditure on food, transportation and other goods or services.
Miami Gardens is more a collective of small neighborhoods than your typical city. It is known as one of the most affordable cities in southern Florida, and that is largely due to a housing market with prices well below the national average. Since the city is a short drive from Pembroke Pines, Hialeah, North Miami Beach and Fort Lauderdale, there are many opportunities for employment and entertainment in this area.
Summary
Miami Gardens is more a collective of small neighborhoods than your typical city. It is known as one of the most affordable cities in southern Florida, and that is largely due to a housing market with prices well below the national average. Since the city is a short drive from Pembroke Pines, Hialeah, North Miami Beach and Fort Lauderdale, there are many opportunities for employment and entertainment in this area.
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
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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