Rent to Own Homes in Nampa
The below results are primarily rent to own homes in Canyon County, ID:
The city of Nampa is located in southwestern Idaho, approximately 20 miles west of Boise and less than 10 miles east of the Deer Flat National Wildlife Refuge. The city was originally formed as a central hub for the railroads as they expanded across the United States, and the area was originally named Nampa Land and Improvement Company. The first residents often referred to their homeland as New Jerusalem due to the religious nature of the community. Today, the city has grown to include more than 80,000 residents and is overseen by the Nampa City Council from Nampa City Hall.
Some of the city highlights include Nampa Municipal Airport, Nampa Public Library and Northwest Nazarene University. The College of Idaho is located approximately 10 miles to the north, and Lake Lowell rests just outside of the city’s southwestern corner. For entertainment, residents can catch sporting events, concerts and a variety of live shows at the Idaho Center. They can also venture about 13 miles to the east to visit the Roaring Springs Water Park.
One of the newest city attractions is the Nampa Gateway Center. This large shopping center is located close to the Idaho Center and is a great place to relax and socialize. It is also a source of employment for many residents.
Buying a Home in Nampa
The average listing price for homes in Nampa is typically below $250,000. With hundreds of homes on the market at any given time, it’s still possible to find properties that sell for around $100,000. If you have a more substantial budget and are interested in more upscale communities, you may also shop for homes that sell for $300,000 or more. Since the city’s crime rates are exceptionally low and most of the public schools are highly rated, you can shop for homes according to your lifestyle and budget rather than worrying about the surrounding neighborhood.
Popular Neighborhoods in Nampa
One of the most desirable neighborhoods in Nampa falls south of East Lewis Lane and Greenhurst Road, extending to the edge of the city. This area is referred to as Bowmont or Deal and is made up of mostly larger homes with more than three bedrooms. This is an established community with a vacancy rate that stays below 10 percent most of the time. You can expect to pay around $300,000 for homes in this neighborhood.
If you want to pay less for your home while remaining close to many of the best public schools, look north of East Karcher Road on the northern edge of the city. This is the Maddens neighborhood, and many homes sell for around $200,000 here. This is still an established community with many large homes, but the vacancy rate is slightly higher than that of Bowmont/Deal.
Buying vs. Rent to Own Homes
While you’re looking at homes for sale in Nampa, keep an eye out for rent-to-own homes. These properties are for sale like any other home on the market, but they give the option to start out as a renter. The current owner maintains control of the property, and a portion of your rental payment may go towards the eventual purchase of the home. When you’re ready to secure financing, you have the right to purchase the property. This is when you transition from the renter to the home owner.
Cost of Living in Nampa
The overall cost of living in Nampa often falls 10 percent or more below the national average. This is largely due to the housing market, which is often about 30 percent lower than the national average. Many residents report paying above-average prices for transportation and healthcare, but that is balanced out by below-average prices for most goods and services. If you want to stretch your housing budget and invest in a large home, you may find exactly what you need in Nampa.
Located approximately 20 miles from Boise in southwestern Idaho, Nampa is a family-friendly community that offers a variety of outdoor recreation areas. Residents are a short drive from a large lake, a water park and the Deer Flat National Wildlife Refuge. They also have access to quality public schools, a large shopping center and an expansive entertainment complex that hosts a variety of live shows throughout the year. This is also an affordable city with a variety of low-cost housing available at all times.
Rent to Own Realtors
Realtors have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.