Rent to Own Homes in Orange
One of the most interesting features of Orange, California is the Old Town District. While most cities throughout the state have torn down buildings constructed during or prior to the early 1900s, Orange has preserved many of them in this nostalgic district. Many of the homes in this area were built before 1920, and they have been restored to display all the charm that residents enjoyed in days past.
While you won’t find any big Disney attractions or spectacular beaches in this mid-sized city, you will find many cozy neighborhoods where children play safely and neighbors walk to the store, to local restaurants and to local parks. Many even walk to work, enjoying the sunshine Southern California is blessed with year round. When it’s time for entertainment, many residents venture into nearby cities.
Buying a Home in Orange?
While the average listing price for homes in Orange is around $700,000, you can find many homes listed for around $500,000 if you shop in the right neighborhoods. This is a versatile market that includes small single-family properties selling for a few thousand dollars and luxury homes selling for a million dollars or more. It’s common for sellers to receive two or three offers before settling on a buyer, so make sure you present your best terms when making an offer on a home you love. The average down payment for this area is 17 percent of the sales price.
Popular Neighborhoods in Orange?
The most popular neighborhood in the city of Orange is the Old Town District. Residents love this area not only for the charming historic buildings but also for its walkable nature. This area is low on crime and high on friendliness, and there are many restaurants and retail stores within walking distance of most homes. You’ll find single adults as well as families with children of all ages enjoying this neighborhood.
Orange is often segmented in terms of zip codes rather than neighborhood names. One of the most popular zip codes is 92869. The average listing price for homes in this community is over $800,000, but some of the city’s best schools are located in the area.
Cost of Living in Orange?
The cost of housing is notoriously high in California, but Orange County prices are typically higher than the state average. This holds true with the city of Orange where housing prices more than double the national average. Those prices are also more than 50 percent higher than the state average for housing. While most other living expenses are within 10 or 20 percent of the national average, the housing prices demand that all residents bring in more money or stick to a strict budget.
The city of Orange is located in California’s well known Orange County and completely surrounds the prestigious city of Villa Park. The highlight of Orange is the Old Town District where pre-1920 homes have been restored to create a neighborhood with old world charm. This is also one of the safest and most desirable areas of the city, but homes ranging from $500,000 to two million dollars are found in many other zip codes throughout the city. Orange is also close to other Orange County cities, so residents can easily enjoy entertainment venues throughout the area.
Summary
The city of Orange is located in California’s well known Orange County and completely surrounds the prestigious city of Villa Park. The highlight of Orange is the Old Town District where pre-1920 homes have been restored to create a neighborhood with old world charm. This is also one of the safest and most desirable areas of the city, but homes ranging from $500,000 to two million dollars are found in many other zip codes throughout the city. Orange is also close to other Orange County cities, so residents can easily enjoy entertainment venues throughout the area.
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
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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