Rent to Own Homes in Palmdale
Residents that travel frequently have easy access to Palmdale Airport within city limits. Other facilities serving the local population include the Palmdale Regional Medical Center, Antelope Valley Mall and the Palmdale City Library. The options for outdoor recreation are almost endless with the Angeles National Forest stretching on for miles just outside city limits and Ritter Ranch Park occupying the southwest corner of the city.
Palmdale is also home to a variety of entertainment venues, including Rancho Vista Golf Course, Antelope Valley Country Club and Dry Town Water Park. With several parks spread throughout the city, residents can also enjoy the sunshine free of charge. The local climate includes highs under 100-degrees Fahrenheit in the summer months, and the winter months bring temperatures in the 30s at the lowest. It’s a pleasant environment where outdoor fun is almost always possible.
Buying a Home in Palmdale?
When Los Angeles residents travel to Palmdale for the first time, they often feel like they’re transporting to another world. While the drive is short, it feels much longer when you go through the mountains and arrive in a city that’s much cooler and smaller than LA. This area does provide a more rural vibe, and you’ll enjoy more cool evenings and cold winter days than you would experience on the other side of the mountains. You’ll also notice a difference in housing prices, since Palmdale is substantially more affordable.
Popular Neighborhoods in Palmdale?
Leona Valley is located in the northwest corner of the city and is the most popular neighborhood for families as well as professionals. The median home price is around $410,000, but there are some smaller homes selling in the $200,000 range. Most of the housing options are single-family homes, and most are owner occupied. Some of the best public schools are close to this community, and the crime rate is low.
If you need lower prices, look to the Four Points neighborhood. The median home price is under $300,000, but you’ll still have access to good schools in a family-friendly neighborhood with a low crime rate.
Buying vs. Rent to Own Homes?
Once you start looking at homes for sale in Palmdale, you may come across some with a rent-to-own option. This is a special agreement that gives you time to rent the home before you take out a loan and secure the purchase. If you need more time to save up a down payment, you may find some of these homes set aside a portion of your rental payment each month to use toward a down payment later. This is also a beneficial agreement if you need to clean up your credit or want to spend more time finding a lender willing to give you a low interest rate on your loan.
Cost of Living in Palmdale?
While the cost of living in Palmdale is eight percent higher than the national average, it’s also approximately 25 percent lower than the California average. If you’re moving from another area of California, you may feel like you’re getting a bargain when you see the housing prices. If you’re moving from another state, you may have temporary sticker shock with home prices approximately 10 percent above the national average. All prices in the area are higher than many other states but lower than state averages, so this is a budget-friendly city when compared to other regions of California.
Palmdale is one of the more affordable California cities for housing, and it offers a more rural living environment than the larger coastal cities. While it’s located less than 90 minutes from Los Angeles, it feels like a different world because it’s on the other side of expansive mountain ranges. The city enjoys a more moderate climate with chillier temperatures, but it’s surrounded by mountain ranges with extensive hiking and mountain biking trails. With a local water park as well as a large golf course and country club, this is an active community where the weather is enjoyed year round.
Summary
Palmdale is one of the more affordable California cities for housing, and it offers a more rural living environment than the larger coastal cities. While it’s located less than 90 minutes from Los Angeles, it feels like a different world because it’s on the other side of expansive mountain ranges. The city enjoys a more moderate climate with chillier temperatures, but it’s surrounded by mountain ranges with extensive hiking and mountain biking trails. With a local water park as well as a large golf course and country club, this is an active community where the weather is enjoyed year round.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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