Rent to Own Homes in Omaha
This robust industry is complemented by the city’s accommodation of cultural, religious and recreation facilities. Nearly every corner of the city is home to a notable site. In North Omaha, locals can visit historic Fort Omaha and the LDS Winter Quarters Temple. Downtown offers the Children’s Museum, CenturyLink Center and several performing arts venues. West Omaha surrounds historic Boys Town, and a variety of welcoming ethnic communities and the treasured Livestock Exchange Building reside in South Omaha.
Buying a Home in Omaha?
Like its historic sites, Omaha’s affable, affordable neighborhoods are spread throughout town. While prices of new and existing homes are increasing 6 percent, the median re-sale price of an Omaha home is a budget-friendly $146,000. New homes are substantially higher at $275,263. Homes sell within 33 to 44 days of being placed on the market, but the number of homes on the market recently decreased 20 percent. In spite of this drop in home inventory, house hunters still have plenty of good options to consider when buying a home in Omaha.
Popular Neighborhoods in Omaha?
Downtown Omaha brims with spacious lofts, plentiful activities and captivating, historic architecture. In nearby Midtown, students, Millennials and families appreciate Morton Meadows’ older homes, Turner Park’s new condos, a lively nightlife and dining scene and close proximity to employers. If you want a sense of community amid Omaha’s historic sites, Benson may be a good choice. It has plenty of eateries, shops and rousing music venues as well as a Farmer’s Market and community center. Families also appreciate Armbrust Acres’ low crime rate, tree-lined streets, summer movies in the park and recreation at nearby Lake Zorinsky.
Buying vs. Rent to Own Homes?
It makes economic sense to buy an Omaha house while prices are still low, but that process can be difficult if you have a low credit score or an insufficient downpayment. Renting to own gives you time to repair a credit score and often allows you to pay an option fee that is smaller than a regular downpayment. In many cases, you’ll also pay a premium on rent, part of which goes toward your purchase downpayment. During this time, you’ll also have a chance to settle in and really decide if the home and the neighborhood fit your needs.
Cost of Living in Omaha?
Living in Omaha is so affordable that Forbes magazine named it the “Best Bang-for-the-Buck City” in 2009. Living expenses here are 12 percent below the national average overall. While healthcare is a slim 1 percent over the norm, all other measured costs are cheaper than the average. Locals spend about 3.5 percent less on groceries, 7 percent less on utilities, 3 percent less on transportation and 13 percent less on miscellaneous expenses. To cap it all off, Omaha residents pays 23 percent less on housing than the national average
Omaha may be home to Berkshire Hathaway and one of the richest men in the world, but you don’t have to be wealthy to make a comfortable, gracious home in this Nebraska city. Its sheer affordability earns plenty of notice, from Money magazine naming it a top place to launch a start-up to Forbes proclaiming it one of the top five places to raise a family. Across the board, families, Millennials and retirees all enjoy a low cost of living in Omaha along with inexpensive housing and clean, safe neighborhoods with abundant character.
Summary
Omaha may be home to Berkshire Hathaway and one of the richest men in the world, but you don’t have to be wealthy to make a comfortable, gracious home in this Nebraska city. Its sheer affordability earns plenty of notice, from Money magazine naming it a top place to launch a start-up to Forbes proclaiming it one of the top five places to raise a family. Across the board, families, Millennials and retirees all enjoy a low cost of living in Omaha along with inexpensive housing and clean, safe neighborhoods with abundant character.
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
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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