Rent to Own Homes in Stamford
Plentiful jobs, recreation and entertainment enhance Stamford’s quality of life, as does its very low crime rate. In town, Stamford residents enjoy excellent shopping and dining at Stamford Town Center, exciting professional soccer games with the New England Force, prime hiking in North Stamford and charming boutique browsing in the Springdale neighborhood.
Buying a Home in Stamford?
Stamford home buyers enjoy some notable bright spots in the local housing market. The price of single family homes and townhomes decreased by slightly more than 2 percent in recent months. With this drop, the average home price is now at $665,600, and the average townhome price is $365,300. The median price of single family homes fell by an even deeper 5.3 percent to $585,000. Meanwhile, home sales increased 22 percent, and single family homes lingered on the market 3.3 percent longer. Currently, single family homes are selling within 125 days.
Popular Neighborhoods in Stamford ?
Millennials, young professionals and the young-at-heart enjoy the nightlife, outdoor recreation and social scene of downtown Stamford. Residents have diverse housing options, from historic homes to chic condos, and median home prices of $350,000. Well-established homes in a variety of prices are found in the Springdale neighborhood. Once its own town, Springdale still has its cute downtown as well as vintage homes from the first half of the 20th century. North Stamford homes are grander, often on large wooded parcels and built within the last 30 years. Home prices average $644,400 here, and residents appreciate the neighborhood’s proximity to shopping on High Ridge Road.
Buying vs. Rent to Own Homes ?
If you’re a first-time home buyer or need a little time to build up your financial condition, rent to own homes are a nice alternative to conventional home buying. The pace of rent-to-own purchases is more deliberate, giving buyers time to repair credit scores, build down payments and find a suitable home loan. As an added bonus, buyers can move into their new homes without waiting for the loan to process and escrow to close since those financial details are handled later. In the meantime, buyers pay a nominal option fee, monthly rent and a rent premium, with the option fee and premium credited toward the eventual down payment.
Cost of Living in Stamford ?
While living in Stamford offers many perks, it’s cost of living is higher than the national average. Overall, locals spend 67 percent more on essentials than most other Americans, with housing costing 259 percent of the country’s average. Other necessities are more affordable. Food, health care and transportation costs range from 15 to 23 percent more expensive than in other towns. Utilities are 38 percent higher than the national average. Don’t let those figures dissuade you from choosing Stamford though. The cost of living in nearby Manhattan is 30 percent higher than Stamford’s, so it’s a relative bargain to live in Stamford.
One of the safest cities in the country, Stamford is home to a world-class university, one of the highest concentrations of large corporations outside of a large city and the World Wrestling Federation. With ample jobs, activities and artistic outlets, Stamford is a delightful place to live, whether you’re 25 or 85. Homes can be pricey here, but compare well to other area cities. Many neighborhoods are peaceful suburban refuges from nearby Manhattan, particularly the large wooded estates of North Stamford. As you expect for a town with higher-than-average housing costs, the cost of living in Stamford is also more expensive than the national average.
Summary
One of the safest cities in the country, Stamford is home to a world-class university, one of the highest concentrations of large corporations outside of a large city and the World Wrestling Federation. With ample jobs, activities and artistic outlets, Stamford is a delightful place to live, whether you’re 25 or 85. Homes can be pricey here, but compare well to other area cities. Many neighborhoods are peaceful suburban refuges from nearby Manhattan, particularly the large wooded estates of North Stamford. As you expect for a town with higher-than-average housing costs, the cost of living in Stamford is also more expensive than the national average.
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.
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