Rent to Own Homes in Orange
Orange grew to prominence in the late 19th century thanks to 17 sawmills which helped to drive the local economy. The dredging of the harbor in 1914 made it possible for large ships to enter the port, and this further increased commerce. The architectural history of the city is preserved in buildings like the Orange County Courthouse. At one time, the city was home to a U.S. Naval Station but the base was closed in 2008.The below results are primarily rent to own homes in Orange County, TX:
Orange grew to prominence in the late 19th century thanks to 17 sawmills which helped to drive the local economy. The dredging of the harbor in 1914 made it possible for large ships to enter the port, and this further increased commerce. The architectural history of the city is preserved in buildings like the Orange County Courthouse. At one time, the city was home to a U.S. Naval Station but the base was closed in 2008.The below results are primarily rent to own homes in Orange County, TX:
The Orangefield Independent School District is one of three districts that serve the city. Lamar State College-Orange has a large campus in Orange and there is a sizable population of college students among the city's 18,000 residents. The vibe of the city is laid-back and relaxed, and the local economy remains as strong today as it was in the early days of the city's rich history.
Buying a Home in Orange
Overall, homes in Orange cost about $41,000 less than the national average. The median price of a home is $95,000. If buyers choose a traditional mortgage, they can expect an average monthly payment of $1,238. Roughly half of the housing units in the city are owner-occupied.
Following the devastation of Hurricane Ike, many homes in the city were either rebuilt or remodeled. Still, only 80% of the city's housing units are less than 25 years old with several dating back to the 1960's and beyond. The homes in Orange tend to be medium-sized to large, with 62% having three bedrooms or more. Home buyers are advised to perform due diligence when selecting a location because some areas of the city have a substantially higher crime rate than others.
Popular Neighborhoods in Orange
The Little Cypress neighborhood near the city's center boasts some of the most affluent homes in Orange. The median price of a home in this community is $161,000 which is far above the city average. It is a walkable and quiet neighborhood with convenient access to many of the city's retail establishments and restaurants. The Pine Grove neighborhood in the southeast corner of Orange borders the Sunset Grove Country Club and is one of the most affordable and quiet in the city. A large number of residents are between the age of 30 and 64, and there is an equal number of married couples and singles.
Buying vs. Rent to Own Homes
The prospective buyer will find many values in the Orange real estate market, but the challenges of buying a home still apply. This is especially true for first-time buyers who may find it difficult to qualify for traditional financing. A good alternative can be a rent to own home which allows buyers to live in the home as they apply a portion of their monthly rent to eventual ownership. These homes can help buyers circumvent qualifying for a mortgage and offer more flexible options if the buyer decides to look for a different home.
Summary
Orange, Texas forms one of the points of the Golden Triangle along with nearby Beaumont and Port Arthur. The city is a deep-water port for the Gulf of Mexico and is also close to the Sabine River. These waterways make Orange an ideal location for those who like marine living and outdoor leisure activities. It also borders Louisiana and is within a short driving distance of the Delta Downs Racetrack and Casino.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
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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