Rent to Own Homes in Oceanside
Today, Oceanside is a vibrant city with plenty of services. Its 1,900-foot pier is the longest in the western U.S., and it offers excellent commuter rail service to Los Angeles and San Diego. Several Unified School Districts serve the community, including Oceanside Unified School District. Oceanside ISD operates several outstanding elementary schools, and Oceanside High School provides performing arts, ROTC and advanced placement programs.
Buying a Home in Oceanside?
There are 416 Oceanside homes on the market, providing a housing inventory that would last 2.1 months at the current selling pace. In the past year, median home prices rose 2.7 percent to $420,909. The average single family home price is $474,983, and the average townhouse price is $377,189. Homes are on the market an average of 42 days, with single family homes selling within 41 days, and attached homes selling within 45 days. Typically, home buyers pay 97 percent of the original asking price.
Popular Neighborhoods in Oceanside?
Unique architecture and a bit of history fills the exclusive French-styled community of St. Malo beach. The historic neighborhood is a blend of small, older cottages and large, newer homes in French architectural styles. Nearby, the SoCal beach vibe is alive and well in South Oceanside, where options vary from nice ranch homes to beachfront condos. The neighborhood is home to surf shops and cafes, and homes sell for an average of $863,417. Families looking for the suburban lifestyle find it in the villages of Rancho del Oro, while the exclusive Fire Mountain neighborhood is a favorite for families who relish sweeping views, spacious lots and affordable custom homes.
Buying vs. Rent to Own Homes?
Purchasing a home in Oceanside is intimidating to many buyers, with plenty of competition, high prices and frustrating mortgage applications. Rent to own homes ease much of that stress, focusing on getting the buyer into the home affordably. There’s less emphasis on perfect credit scores and mortgage details. With rent to own homes, buyers pay an option fee rather than an immediate down payment. They also pay rent and a small premium monthly, with the premium and option fee credited to the buyer’s eventual down payment. This system gives buyers the length of the rent-to-own contract, which is usually one to three years, to handle financial issues.
Cost of Living in Oceanside?
As in most Southern California towns, living in Oceanside is pricier than in other parts of the country. In fact, residents here spend about 46 percent more of their income on living expenses than the national average. The biggest expense is housing, costing locals 123 percent more than the rest of the nation. Other living expenses are marginally above the national average, with groceries, healthcare, utilities and transportation all ranging from 10 to 12 percent higher than the national average.
The quintessential California coastal town, Oceanside has fresh ocean air, wide sandy beaches and an eclectic mix of homes, bungalows and cottages. Surprisingly, Oceanside homes are fairly affordable when compared to other California towns. Oceanside’s median home price of $420,909 is well below the California median home price of $485,830. Oceanside has plenty of comfortable neighborhoods to go along with those cozy homes, from historic and unique districts to new subdivisions. Wherever home buyers choose to settle, though, living in Oceanside is nearly one-and-a-half times the cost of the national average.
Summary
The quintessential California coastal town, Oceanside has fresh ocean air, wide sandy beaches and an eclectic mix of homes, bungalows and cottages. Surprisingly, Oceanside homes are fairly affordable when compared to other California towns. Oceanside’s median home price of $420,909 is well below the California median home price of $485,830. Oceanside has plenty of comfortable neighborhoods to go along with those cozy homes, from historic and unique districts to new subdivisions. Wherever home buyers choose to settle, though, living in Oceanside is nearly one-and-a-half times the cost of the national average.
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
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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