Rent to Own Homes in Aurora
In addition to those family-friendly parks and beautiful neighborhoods, residents are surrounded by opportunities for outdoor recreation. Laguna Beach is approximately 10 miles away on the coast. The city is also surrounded by Whiting Ranch Wilderness Park to the north, O'Neil Regional Park to the east, and the Laguna Woods Golf Club to the west. Saddleback College is located toward the southern tip of the city, and Lake Mission Viejo sits toward the center of the city. This reservoir was created for recreational purposes and is located near Florence Joyner Olympiad Park and the South Mission Viejo Little League Fields.
Residents also have the advantage of quality public schools, including Mission Viejo High School. The city is also the proud home of the Mission Viejo Nadadores Diving Team, which has produced eight Olympians to date. When you add that this is a southern California city that delivers sunshine almost year-round, you see why many consider this one of the friendliest cities for families as well as professionals.
Buying a Home in Mission Viejo?
The median listing price for homes in Mission Viejo is typically more than $650,000. The median sales price is often slightly lower than the listing price, but it's not uncommon for the most desirable homes to receive multiple competitive offers before a sale is finalized. This is an aggressive real estate market that attracts many cash buyers, so the average down payment is often close to 80 percent. The good news is that you can select a house based on the size and price rather than focusing on the school district because all public schools in this city are impressively rated.
Popular Neighborhoods in Mission Viejo?
Mission Viejo is one of the safest cities in California, and you'll find some of the most desirable neighborhoods along the eastern edge of the city. One popular community is located just south of Oso Viejo Community Park between La Paz Road and USO Parkway. The median real estate price for the area is typically close to $900,000, and you'll find established homes built before 2000 mixed in with more modern homes. The vacancy rate typically stays under 5 percent, and most of the homes are occupied by their owners. If you can afford to spend closer to $1 million on your home, look in the northeastern corner of the city near Lake Mission Viejo for another popular neighborhood.
Buying vs. Rent to Own Homes?
Are you ready to put your down payment on the table and buy a home in prestigious Mission Viejo? This is a big step, especially if one of these luxurious homes will serve as your first home purchase. If you're like many other future homebuyers, you want to move into a new home right away but you aren't yet qualified for the lowest interest rates. You may also have other reasons for delaying your application for a mortgage loan. This doesn't meant that you aren't ready to buy a home. It simply means that you're an ideal candidate for a rent-to-own contract.
This is a unique deal that allows you to start out as a renter with the intention of purchasing the same property in the future. You will typically have a date by which you must secure financing and buy the property, and you don't have to worry about other buyers grabbing the home that you want to buy in the meantime. It's a slower path to home ownership, but it's also a little less stressful.
Cost of Living in Mission Viejo?
It's not unheard of for Mission Viejo to nearly double the nation's average cost of living. The city is filled with luxurious homes that sell for two to three times the national average, and most residents also pay above-average prices for utilities and transportation. Even though healthcare and most goods and services are often priced closer to national averages, it isn't enough to make up for the high prices seen on the real estate market.
Even though the cost of living in Mission Viejo, California, is nearly double the national average, this beautiful master-planned community is considered one of the safest and most desirable suburban cities in the state. The city is surrounded by golf courses and large state parks, and Laguna Beach is approximately 10 miles away on the coast. Many families are attracted to Mission Viejo because of the wide tree-lined streets, the many lakes and parks dotted throughout the city, and the high-quality public schools that serve children in all areas of town.
Summary
Even though the cost of living in Mission Viejo, California, is nearly double the national average, this beautiful master-planned community is considered one of the safest and most desirable suburban cities in the state. The city is surrounded by golf courses and large state parks, and Laguna Beach is approximately 10 miles away on the coast. Many families are attracted to Mission Viejo because of the wide tree-lined streets, the many lakes and parks dotted throughout the city, and the high-quality public schools that serve children in all areas of town.
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