Rent to Own Homes in Oxnard
Some of the most prestigious homes are in the Oxnard Shores neighborhood. This area runs along the coast and offers many luxurious beachfront properties for affluent residents. The beaches stretch on for more than 20 miles, and they aren’t just for those with back doors opening to the sand. Residents from all over the city spend a lot of time on the shoreline. These beaches are just as spectacular as those found in Los Angeles, but they’re far less crowded. If you want to relax in peace, you’re more likely to find what you want on the Oxnard coast.
The city also offers some small-scale amenities away from the water. Oxnard College serves adults interested in furthering their education while the Oxnard Airport provides flights for the immediate region. The Henry T. Oxnard Historic District is a small downtown neighborhood where large historic homes have been beautifully restored to reflect a variety of architectural traditions. Students throughout the city are served by private schools as well as public schools like Oxnard High School.
Buying a Home in Oxnard?
Oxnard has a population of about 200,000, and approximately half of all residents are married. The median age of residents is 30, and homes contain an average of three people. This is a coastal city with some beautiful oceanfront properties, so it shouldn’t come as a surprise that the median home price is over $300,000. You can find more affordable homes in some neighborhoods, but you’ll have to look away from the waterfront neighborhoods. The average commute time for workers is more than 20 minutes, so you may want to consider your place of employment when selecting a new home in Oxnard.
Popular Neighborhoods in Oxnard?
The most popular neighborhoods in Oxnard are those found along the coast. The most prestigious waterfront neighborhood is found along Hollywood Beach and is called Hollywood by the Sea. The median home price is close to $900,000.
You can find slightly more affordable homes north of Hollywood Beach around the intersection of Mandalay Beach Road and Harbor Boulevard. If you venture even further north to the coastal neighborhood around West 5th Street and South Ventura Road, the median home price falls to around $500,000. If you’re searching for bargain prices on properties close to the beach, go south of Hollywood beach to the neighborhood around Casper Road and East Hueneme Road where the median home price is around $300,000.
Buying vs. Rent to Own Homes?
Do the home prices in Oxnard intimidate you? One way to reduce your monthly mortgage payment is to offer a large down payment so that you have to borrow less money. You can also improve your credit rating in order to secure a lower interest rate on your loan. Those things take time, and a rent-to-own property will give you the time you need.
Properties with this contract option allow you to live in the home as a renter for a specified period of time with the intention of purchasing the home at a later date. While making your rental payments, you can save up a larger down payment, pay down debt reflected on your credit report or take other actions that will make your home loan more affordable. Once you purchase the home, you graduate from home renter to homeowner.
Cost of Living in Oxnard?
The cost of housing in Oxnard is nearly double the national average, and that drives the overall cost of living up 30 or 40 percent higher than the national average. Housing expenses are a bit more affordable in this city than in many other areas of California, but they are often a shock to new residents moving from other states. You can expect to pay 10-20 percent more for all goods and services in this area of the country, but many jobs also pay more than similar jobs in other states.
Oxnard features many oceanfront properties with luxurious homes and direct beach access, and not all ocean-side neighborhoods are outrageously priced. This is a city full of hard-working residents enjoying 20 miles of beaches that aren’t as heavily populated as those found to the south near Los Angeles. While the city is defined by the ocean, strawberries are also significant. A third of the strawberries consumed by Californians are grown here, and the city holds an annual festival where more than a million berries are consumed.
Summary
Oxnard features many oceanfront properties with luxurious homes and direct beach access, and not all ocean-side neighborhoods are outrageously priced. This is a city full of hard-working residents enjoying 20 miles of beaches that aren’t as heavily populated as those found to the south near Los Angeles. While the city is defined by the ocean, strawberries are also significant. A third of the strawberries consumed by Californians are grown here, and the city holds an annual festival where more than a million berries are consumed.
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
Rent to Own Labs offers free listings for rent to own by owner, foreclosed homes and owner financed properties. Start looking for apartments or houses near me with the Rent to Own Labs search function.
These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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