Rent to Own Homes in St Paul
The city’s shining features attract many visitors and plenty of industry, keeping Saint Paul’s economy strong. Buoyed by the nearby Minneapolis-St. Paul Airport, the shipping options provided by the Mississippi River and several convenient interstates, many large corporations choose Saint Paul too. Area employers include Ecolab, Gander Mountain, Securian Financial Group and the nearby 3M corporation headquarters.
Buying a Home in Saint Paul?
Saint Paul’s housing market thrives, with new listings and closed sales up 6 and 11 percent over last year. Home prices are increasing, too, with an 8 percent jump in the average price to $208,428 and the median home price to $169,150. The U.S. median home price is significantly higher at $219,400. On average, houses sell here within 81 days. Given the rate of sales and new listings, Saint Paul’s housing inventory comes in at 3.3 months, which is low enough to be considered a seller’s market.
Popular Neighborhoods in Saint Paul?
Lively Lowertown, sometimes called the Warehouse District, in Downtown offers a vibrant art community, the Saints baseball stadium, abundant restaurants and taverns, an appealing farmer’s market and a nature preserve that attracts renters, recent college graduates and married couples. A more suburban atmosphere is found on the southeast side of town in the peaceful Battle Creek-Highwood area. The neighborhood has larger, more affordable homes and a fairly young population of 20- to 29-year-olds. Families, on the other hand, enjoy the community events, quiet streets, fun Como Park and proximity to downtown offered by the Como neighborhood.
Buying vs. Rent to Own Homes?
Buying a home can often be less stressful if you ease into the purchase. Rent-to-own contracts provide that slower pace. When you buy a home outright, you often have to spend countless hours finding and securing a mortgage, providing a hefty downpayment and handling all of the assorted details of negotiating the purchase. Renting to own alleviates some of that immediacy, offering arrangements that are usually one to three years in duration and often less strict on financial issues. While rent-to-owners usually pay an option fee, they won’t need to provide a downpayment until the end of the contract period.
Cost of Living in Saint Paul?
Although housing is very affordable in Saint Paul, most other necessities are slightly more expensive than the national average. As a result, Saint Paul’s overall cost of living is 2 percent above the country’s average. Utilities here are just about equal to the U.S. average, but healthcare, groceries and transportation are 2, 5.6 and 7 percent higher respectively. Housing is the brightest spot at 8 percent below the national average. If you’re choosing between living in Saint Paul and its Twin Cities' sister, Minneapolis, keep in mind that rent and groceries are 10 and 17 percent cheaper here than in Minneapolis.
Cosmopolitan Saint Paul teems with captivating architecture, beautiful river views, affordable homes and thriving job market. It’s affordability, livability and strong business sector often earn the city accolades, from the best quality of life and business friendliness to the best market for young professionals. Its housing market is strong yet accessible and relatively inexpensive, and the city is filled with nice, established and welcoming neighborhoods. While its cost of living is just a shade higher than the national average, it’s still a bargain compared to other nearby big cities.
Summary
Cosmopolitan Saint Paul teems with captivating architecture, beautiful river views, affordable homes and thriving job market. It’s affordability, livability and strong business sector often earn the city accolades, from the best quality of life and business friendliness to the best market for young professionals. Its housing market is strong yet accessible and relatively inexpensive, and the city is filled with nice, established and welcoming neighborhoods. While its cost of living is just a shade higher than the national average, it’s still a bargain compared to other nearby big cities.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
The free listings for rent to own by owner properties on this website make it easier for buyers to find rent to buy programs near me online.
Rent to buy is a good way to sell apartments or houses when the market isn’t particularly active. It’s certainly a more profitable alternative than selling them for cheap prices.
You can choose to lease-option or lease-purchase a condo, townhouse, etc – anything other than foreclosed homes works. In a lease-option, the buyer has the option to buy the home, but in a lease-purchase, the buyer must buy it.
It’s important to note that lease to purchase deals usually come with no credit check because bad credit is the tenant’s responsibility. If the tenant cannot purchase the home at the end of the lease, the seller keeps their rent and option fee. Then, the seller can find another buyer and, hopefully, market conditions are better.