Rent to Own Homes in Orlando
While tourists flock to Orlando to visit Sea World, Discovery Cove, Universal Studios and the Disney theme parks, residents enjoy those attractions without the added expense of travel. You can live in tree-lined neighborhoods surrounded by open green space and commute to downtown Orlando for business or you could live in the heart of it all. Many of these neighborhoods offer affordable housing options for every budget.The below results are primarily rent to own homes in Orange County, FL:
While tourists flock to Orlando to visit Sea World, Discovery Cove, Universal Studios and the Disney theme parks, residents enjoy those attractions without the added expense of travel. You can live in tree-lined neighborhoods surrounded by open green space and commute to downtown Orlando for business or you could live in the heart of it all. Many of these neighborhoods offer affordable housing options for every budget.The below results are primarily rent to own homes in Orange County, FL:
Buying a Home in Orlando?
It’s important to think of your priorities when purchasing a home in Orlando. Whether you’re moving into the city for business, transitioning from a rental property to owning a home, moving into your first home or getting to a warmer climate, it’s important to think about your priorities.
Living near your place of work would reduce your commute is ideal as traffic in Orlando is very thick and rush hours are unpredictable. You may choose to live near the University of Central Florida so that your children can live at home while attending school. UCF is the second largest university in the country and it draws a lot of students from outside of the state.
You may choose to live a quieter life, away from the hustle and bustle of college students near the university, the traffic downtown and the tourists. Your lifestyle will determine your ideal Orlando home, and the area is big enough for many different options.
In addition to primary homes, the Orlando real estate market is rich with vacation homes. Make the city your full-time residence, create a love nest for special occasions or buy a second home that you can escape to when daily life starts to get you down or during the winter months.
Florida’s climate is warm year-round. There are days in the winter months when temperatures drop to 30 or 60 degrees in the morning and late at night, but for the most part the weather is 70 degrees and above. When you’re looking for a home, you may want to consider a home with a pool or home with a local community pool. Lounging in the pool is a favorite pass time for Floridians.
Popular Neighborhoods in Orlando?
If you want to reside in downtown Orlando without sacrificing safety and comfort, look at homes in the College Park neighborhood. It’s close to downtown so that your commute isn’t too bad and you’ll have a variety of restaurants and quirky retail shops close by, including a popular Mediterranean deli serving scrumptious treats for residents. You’ll find older homes mixed in with new constructions in this diverse area.
Students, faculty members and those looking to enjoy the lively lifestyle that comes with student life, should check out East Orlando and Oviedo near the University of Central Florida. Not only will you enjoy the nightlife with plenty of company, but you can immerse yourself in the University’s theater productions and cheer on football games at Bright House Stadium.
Those in the medical research field or who enjoy golf, will enjoy living down south in the Lake Nona neighborhood. Housing is available at all price points, and the area is known as both a golfing mecca and medical city.
The Spirit of Orlando ?
It’s easy to be excited while living in Orlando, it’s known as the “Theme Park Capital of the World.” The rollercoasters at Universal Studios and Islands of Adventure are thrilling. The Disney theme parks bring out the child inside of you. You can enjoy the rides or learn about the animals at Sea World. During the hot summer months, water parks like Blizzard Beach and Aquatica are refreshing. These theme parks offer cheaper entrance to Florida residents.
Residents of Orlando come from all different backgrounds as people from all over the world come to the city to work at the park. There is a strong Latin American culture in Orlando and throughout southern and central Florida. There are endless choices of cuisine, music and dancing in Orlando.
Throughout the year, Orlando appreciates and encourages the arts. The Walt Disney World hosts Flower and Garden Festivals, concerts and the Candlelight Processional. Universal Studios features the Blue Man Group, Mardi Gras and Rock the Universe. The city is home to its own ballet, opera and philharmonic. The city hosts musicians from all genres, classical to EDM, at festivals and in the Amway Center.
The tourism in the city has created activities galore outside of the parks. Like City Walk, Disney Springs, endless miniature golfing locations and the Orlando Eye. Orlando is a great place to be a kid, to raise a kid, and to enjoy yourself.
While many cars in Orlando are decorated with a Disney Annual Pass magnet on their bumpers, many residents opt to have a sticker for Orlando City soccer decorating their car instead. There are a lot of soccer fans in Orlando they etch out time in their schedule to attend games. If you’re not a fan of soccer, but still like to watch sports, the Amway Center is home to the Orlando Magic NBA Basketball team and to the Orlando Solar Bears ECHL Hockey team.
Orlando may not be known for shopping, but locals know that they can get great deals at the Orlando International Premium Outlets and the Orlando Vineland Premium Outlets. And what they can’t find at the outlets, they can look for in the city’s nine malls.
Buying vs. Rent to Own Homes?
The traditional home-buying process requires you to pay a down payment and secure a mortgage loan to take ownership of the property. Rent to own agreements allow you to rent the property for a given time before securing a loan and completing the buying process. You would pay rent each month, like for any lease. However, you’d pay a little more each month that goes towards your down payment if you choose to purchase the home. After your lease is over, you are given the option to buy the home.
Rent to own is to your advantage if you need to clear up small flaws on your credit to get a better interest rate when you do take out a loan. It’s also to your advantage if you need some time to save up for a deposit, but you want to start getting to know the neighborhood. While you technically own the home, repairs and maintenance will not likely be included. However, the owner will probably continue to pay taxes and insurance on the home.
Cost of Living in Orlando?
Current indices estimate that the cost of living in Orlando is similar to the average cost of living in the United States. The cost of utilities, healthcare, services and products are slightly less than the national average while expenses related to housing, groceries and transportation come out slightly above the national average. The state of Florida does not have its own income tax, however the federal income tax still applies.
Living in Orlando is a great place for families and lively people to live. The city is always bustling and there are a myriad of events and activities to keep yourself entertained with. Peaceful beaches are a short drive away and Florida climate is never too cold.
Summary
Living in Orlando is a great place for families and lively people to live. The city is always bustling and there are a myriad of events and activities to keep yourself entertained with. Peaceful beaches are a short drive away and Florida climate is never too cold.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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