Rent to Own Homes in Modesto
The weather is perfect for residents interested in year-round outdoor recreation, and there are many opportunities for that in Modesto. For camping and hiking, Modesto Reservoir Regional Park is the perfect local destination. John Thurman Field provides interactive baseball fun, and the Stanislaus River offers opportunities for kayaking and rafting.
Downtown Modesto is also a prime destination for quirky fun. For instance, it’s home to the Modesto Historic Cruise which guides visitors through town to look at the city’s graffiti. The downtown Modesto arch is also a novelty that welcomes residents and guests into the city. It features the local motto, “Water, Wealth, Contentment, Health.” The area is served by the Modesto City-County Airport and Modesto City Schools.
Buying a Home in Modesto?
If you’re moving to Modesto with children, select your neighborhood with schools in mind. There are more than 20 elementary schools in the public education system, but the area is limited to fewer than 10 middle and high schools. If you want your older children to walk to school or avoid long bus rides, you may select a neighborhood closer to a middle and high school. You may also look into some of the private schools in the city to make sure your children receive the best educational opportunities. You will want to live as close as possible to whatever school you choose for your children.
Popular Neighborhoods in Modesto?
The most popular neighborhoods in Modesto are in the northern end of the city. This area has seen a lot of growth in recent years, so there are many new housing developments, shopping centers and restaurants. Neighborhoods like Riverbank offer a mix of housing options at affordable prices and are located reasonably close to schools. The crime rates are generally lower as you move north as well.
Buying vs. Rent to Own Homes?
The traditional home-buying process requires you to jump through hoops to gain acceptance from a bank or other lender. This often starts with an application that requires you to submit a long list of documentation regarding your financial history and current financial status. You receive preapproval or prequalification which determines the maximum amount you can spend on a home. The home shopping and bidding process then starts. You need a down payment of at least five or 10 percent in most cases, and you may need to cover expenses for property inspections and closing costs.
If that’s overwhelming to you or there are obstacles standing in your way right now, consider renting a home with the option of buying it in the future. Rent-to-own homes allow you to move in now as a renter, but you have the right to purchase the home before the end of your contract. You can improve your credit rating or clear up other issues standing in your way right now, and you get to live in your home as you do so. When you’re ready to secure a home loan, you start the process of making that home your own.
Cost of Living in Modesto?
While the cost of living in Modesto is approximately seven percent higher than the national average, it's also approximately 20 percent lower than the California average. Prices in this state are generally higher than the national average, so Modesto is one of the more affordable cities when you consider its location. Housing is about five percent higher than the national average, and all other expenses are within five to 10 percent of national averages. It may not seem affordable if you're moving from another state, but you'll consider it cheap if you've priced houses in other areas of the state.
Modesto is one of the more affordable California cities, and it offers weather suitable to outdoor recreation all year long. From kayaking and rafting on the Stanislaus River to camping at the Modesto Reservoir, it’s easy to stay active and fit when local temperatures stay above 50-degrees Fahrenheit and below 90-degrees Fahrenheit all year. The city sits between Fresno and Sacramento, so residents can easily plan day or weekend trips to many other exciting California cities.
Summary
Modesto is one of the more affordable California cities, and it offers weather suitable to outdoor recreation all year long. From kayaking and rafting on the Stanislaus River to camping at the Modesto Reservoir, it’s easy to stay active and fit when local temperatures stay above 50-degrees Fahrenheit and below 90-degrees Fahrenheit all year. The city sits between Fresno and Sacramento, so residents can easily plan day or weekend trips to many other exciting California cities.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
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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