Rent to Own Homes in Renton
The city of Renton was originally known as the Renton Cooperative Coal Organization, but it's better known today as the place where NFL stars playing for the Seattle Seahawks go to train. The city is also home to the Renton Library, Renton Technical College and a variety of jobs in the technology and manufacturing fields. Some of the big companies offering work to the locals include Geico and the Boeing Renton factory. The city has seen remarkable growth since it was established, especially with the East Renton Plateau annexation project adding residential areas.
Those interested in learning more about the history of this town can visit the Renton History Museum to hear stories of miners working for the Renton Cooperative Coal Company and other stories of importance. Exhibits change regularly, so even long-time residents often enjoy the visit.
Buying a Home in Renton?
The housing market in Renton is quite versatile. You can purchase a townhome with luxury amenities, including waterfront access. The median home price for single-family properties is around $300,000, and you can buy a condo for little more than $100,000. Blended family homes often sell for less than $300,000, and there are some luxury homes that will offer upscale amenities at remarkable prices. There are some programs in place to help struggling consumers come up with down payments and secure reasonable interest rates. The Washington Homeownership Center is a good resource if you need assistance.
Popular Neighborhoods in Renton?
One of the most popular neighborhoods in Renton is located in the center of the city. The northern border is Northeast 4th Street, and Renton Maple Valley Road marks the southern border. The eastern border is 156th Avenue Southeast, and the western border ends roughly at the Sunnydale Mobile Home Park. The median real estate price is over $500,000 in this area, and you'll find some of the largest and most luxurious homes here. The vacancy rate often stays under 3 percent, and most homes in the area are occupied by their owners.
Do you want to live on or close to Lake Washington? Look toward the northern end of the Kennydale neighborhood. This is a smaller community positioned west of I-405 and east of Lake Washington Boulevard. The lower tip of the neighborhood hits downtown Renton, so it's a convenient location for downtown and waterside attractions. Median home prices are often close to $600,000 in this area, and you can expect to pay much more for exclusive waterfront homes. Buying vs. Rent to Own Homes
Do you want to transition from a renter to a homeowner? You can do just that by taking advantage of Renton homes that offer a rent-to-own contract. This is a unique deal that allows you to start out as a renter while maintaining exclusive rights to purchase the property at any time before a specified date. As long as you follow through with the purchase before that date, you don't have to worry about other buyers making offers on the property before you can secure a home loan. This is a good option to consider if you're not quite ready to apply for a mortgage loan.