Rent to Own Homes in South Bend
The St. Joseph River runs through the center of South Bend, providing a variety of parks and recreational areas for residents along the way. Other local attractions include the South Bend Civic Theatre, the Potawatomi Zoo, the Morris Performing Arts Center and the Snite Museum of Art. Most residents also spend a lot of time at the local ice skating rink, and the farmer’s market is a treasure for anyone trying to eat healthy on a reasonable budget.
Buying a Home in South Bend?
With hundreds of homes on the market at any given time and an average listing price of under $100,000, it’s no wonder that more than 70 percent of South Bend’s residents own their homes. While it’s easy to start visiting homes based on price alone, make sure that you’re considering all of your location and lifestyle needs. While budgeting is important, it’s not difficult to find homes that fit any budget in South Bend. Many of the lowest-priced homes aren’t in move-in condition, so you may need to spend money and time fixing major problems before you get to move in.
Not all schools in this city are ranked highly, so you may want to do some research into school quality and zoning before settling on a specific neighborhood. For instance, there are two highly-rated elementary schools in the city, but the third elementary school is rated below average. The standout middle school is Lasalle Intermediate Academy, and the competing middle schools are below average.
Popular Neighborhoods in South Bend?
Bercliff Estates is one of the most popular South Bend neighborhoods because it’s located in a quiet area with lots of trees, but it’s still a short distance from many shopping centers, restaurants and local employers. You’ll find it tucked out of the way from McKinley and Logan, and real estate prices are typically around $160,000.
If you can afford to pay a bit more for a home and want to live in a more exclusive area that is really off the beaten track, consider a home in Lafayette Falls. You’ll drive through a charming tree-lined road to enter the community, passing the pond and waterfall along the way. You’ll then find beautiful homes that range from less than $150,000 to more than $300,000.
Buying vs. Rent to Own Homes?
You’re having a lot of fun browsing the homes for sale in South Bend, but are you truly ready to commit to a mortgage loan right now? If you’re not sure, then perhaps you’re the ideal candidate for a rent-to-own contract. You’ll have a unique home-buying experience that allows you to settle into your home as a renter right away. You can then purchase the home whenever you’re ready for that commitment. It’s a great way to get to know your neighbors and save up a more sizable down payment before you officially take on that mortgage.
Cost of Living in South Bend?
Affordable is the name of the game when you shop for homes in South Bend, Indiana. The housing index routinely falls about 50 percent lower than the national average, bringing the overall cost of living to nearly 20 percent less than the national average. Most residents have no problem finding affordable groceries, and most goods and services sell for close-to-average prices as well. If you want to purchase a large home but don’t have the budget to cover the cost in many other cities, South Bend may fit your needs perfectly.
The cost of housing in South Bend is so low that it’s almost too good to be true, but that’s not the only reason to consider this northern Indiana town home. This is the stomping ground of Notre Dame, and there are quirky museums located throughout the city. While jobs are available in many industries, many residents look forward to spending time at the ice skating rink or relaxing in the city’s many parks and recreational areas.
Summary
The cost of housing in South Bend is so low that it’s almost too good to be true, but that’s not the only reason to consider this northern Indiana town home. This is the stomping ground of Notre Dame, and there are quirky museums located throughout the city. While jobs are available in many industries, many residents look forward to spending time at the ice skating rink or relaxing in the city’s many parks and recreational areas.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
Lease-purchase programs offer sellers more certainty than traditional rent to buy because buyers are contractually obligated to buy the condo, townhouse or house by the end of the lease term. Normally, rent to own by owner means the buyer has the option to buy and the seller has the obligation to sell.
Lease-options are more convenient for buyers. However, buyers and sellers may work out lease to purchase deals for houses and other properties when the seller is overlooking a bad credit score or a small option fee. The requirement for buyers to purchase properties makes sellers feel more comfortable leasing with no credit check because they don’t have to worry about whether buyers will opt out.
If you’re interested in looking for apartments for lease option, check out our free listings by searching for properties near me. We showcase more than just rent to own. Use our site to find cheap foreclosed homes or owner financing.
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