Rent to Own Homes in Naperville
The Naperville Park District also maintains a series of smaller parks convenient to many residential communities. Naperville Community Unit School District 203 serves most of the city’s children, but there are also some private schools available to all age groups. While the city is often touted as a great place for retirement, it’s also a great place for adults seeking employment. Some big companies have established headquarters in the city, including OfficeMax. Others have large facilities and offices which bring hundreds of jobs to the area, including Kraft Foods and BP America.
When they aren’t working or in school, residents can enjoy time downtown Naperville. This area features a variety of restaurants and shopping centers, and the Naperville Heritage Society has preserved many historical buildings downtown as well as in other areas of the city. There’s something to do for every age group, including the popular Naperville Independent Film Festival for those interested in the arts. Many families enjoy visits to the DuPage Children’s Museum.
Buying a Home in Naperville?
Naperville residents generally start thinking of selling their homes around the turn of each new year, and you can expect to see new properties entering the market from early January through spring. This is a good time to watch for new listings so that you are one of the first buyers to see properties of interest. By the time March rolls around, the spring buying frenzy will start, and that means more homes on the market and more competition for those homes. While you can buy homes in Naperville any month of the year, this is the best period of time to shop.
Popular Neighborhoods in Naperville?
Naperville is full of cozy subdivisions and communities monitored by housing associations. These areas are popular with families as well as retirees and professionals interested in safe neighborhoods where the lawns are well manicured and the neighbors are friendly. One of the most popular neighborhoods that fit this description is Brookdale. Neighbors connect through the community’s Facebook page and work together to keep shared areas of the community landscaped and free of litter. It’s also close to schools and is a safe place for children to play. Acorn Hills Estates is another neighborhood suitable for families with children.
Buying vs. Rent to Own Homes?
Purchasing a new home in Naperville requires you to make a few difficult decisions, but you don’t have to make them all at once. When you opt into a rent-to-own agreement, you give yourself the gift of time. You start out renting the property for a specific period of time, and you have the option to purchase the home before the end of your contract. This rental period allows you to get comfortable in your home and meet your new neighbors while preparing for the home-buying experience. When you’re ready to take out a loan, you have the right to purchase the property and become a homeowner rather than a renter.
Cost of Living in Naperville?
The cost of housing in Naperville is double the national average, and that inflates the overall cost of living for the city. While all other living expenses are close to the national average if not slightly below, housing expenses require residents to monitor their budgets closely. While there are some areas of the city where homes are sold at affordable prices, the most desirable neighborhoods do require a substantial investment in housing.
While the cost of living in Naperville is higher than the national average, it has been recognized as one of the best places for families and retirees to live. Residents can reach Aurora in approximately 30 minutes and Chicago in about an hour without traffic, so weekends on the harbor are always possible. Centennial Beach offers a safe place to swim while the local stadium gives locals a place to cheer on their favorite teams. There are many suburban subdivisions and communities with active homeowner’s associations, and most areas offer family-friendly amenities.
Summary
While the cost of living in Naperville is higher than the national average, it has been recognized as one of the best places for families and retirees to live. Residents can reach Aurora in approximately 30 minutes and Chicago in about an hour without traffic, so weekends on the harbor are always possible. Centennial Beach offers a safe place to swim while the local stadium gives locals a place to cheer on their favorite teams. There are many suburban subdivisions and communities with active homeowner’s associations, and most areas offer family-friendly amenities.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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