Rent to Own Homes in Odessa
In your down time, you can enjoy some unusual activities like a visit to the Odessa Meteor Crater. Head a few miles south of I-20, and you’ll find this testament to the power of Mother Nature just southwest of the city. You can also visit the local replica of the Stonehenge monument or browse the Presidential Archives and Leadership Library. There are many sports bars and pubs in the area, so don’t count out an active nightlife if you make Odessa home.
Buying a Home in Odessa?
You’ll find hundreds of homes on the market in Odessa, Texas, at any time. With an average listing price of less than $200,000 at most times, it’s no wonder that more than 70 percent of the city’s residents are homeowners. With so many affordable homes on the market, you can afford to think more about location and amenities before making an offer. Decide what school district you want to live in or what areas of the city will best fit your lifestyle. Keep commute times in mind, since this is a city that relies heavily on personal vehicles for transportation.
Popular Neighborhoods in Odessa?
You’ll find one of the most popular Odessa, Texas, neighborhoods on the eastern edge of the city. It’s known as the Bounce/Warfield area, and some of the most desirable schools and residential streets are in this region. Most homes are occupied by their owners, and the neighborhood enjoys a vacancy rate under 10 percent. You’ll find small and medium-sized homes along with some trailers for sale.
If you don’t care as much about local schools or you need the least expensive housing options currently available, the Quinn Drive/North Knox Avenue area is a good option. It’s located west of South Moss Avenue and south of West University Boulevard on the western edge of town. You can find homes selling for under $100,000 if you look in this area of town.
Buying vs. Rent to Own Homes?
Are you ready to give up renting and buy your own home? You may feel rushed to experience the joys of homeownership, but there are some good reasons to consider a rent-to-own home. You start out as a renter, but you have the exclusive opportunity to purchase the property before the end of your contract. This gives you some time to put together a more sizable down payment or improve your credit score so that you qualify for lower-interest mortgage loans. In the end, you’re a homeowner just like many of your Odessa neighbors, and you may secure a larger home than you could otherwise afford to buy at this time.
Cost of Living in Odessa?
If you want to stretch every dollar in your budget and enjoy a comfortable lifestyle, welcome to Odessa, Texas. With an overall cost of living that falls up to 10 percent lower than the national average and housing prices that can go up to 30 percent below the national average, this is one city that can make your dream of homeownership come true. Food is also 10 percent or more below the national average, but expect to pay closer to national-average prices for healthcare, transportation and utilities.
Odessa, Texas, is a growing city that offers family-friendly neighborhoods lined with affordable single-family homes. The list of parent-approved public schools is also growing, and there are some unique opportunities for entertainment in the area. You can visit a large crater just outside of town or spend your time crawling the sports bars for entertainment of another variety. There’s enough sun to keep you warm all year round when you make Odessa your home.
Summary
Odessa, Texas, is a growing city that offers family-friendly neighborhoods lined with affordable single-family homes. The list of parent-approved public schools is also growing, and there are some unique opportunities for entertainment in the area. You can visit a large crater just outside of town or spend your time crawling the sports bars for entertainment of another variety. There’s enough sun to keep you warm all year round when you make Odessa your home.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.
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