Rent to Own Homes in Sunrise
The below results are primarily rent to own homes in Broward County, FL:
Sunrise is located just west of the Everglades Wildlife Management Area in southern Florida. Positioned within 10 miles of the coast, residents enjoy a short drive to the beach as well as the employment and entertainment opportunities in Fort Lauderdale. The city started out as a rural area that was home to an upside-down house. Fewer than 400 residents claimed the area as home when it was incorporated under the city name Sunrise Golf Village in 1961. 10 years later, the name was shortened to Sunrise.
Today, the population of Sunrise has grown to more than 80,000 people, and the city operates its own police department, fire rescue squad and the Sunrise Utilities Department. It has a unique history of being lost by Google more than once but remains a family-friendly community complete with an expansive civic center. The Sunrise Civic Center contains a theater and art gallery in addition to a community athletic club and open space for large events.
Families have access to quality public schools as well as many successful youth sports programs, including a popular soccer club for girls. As corporate parks and multi-use communities are springing up across the United States, Sunrise has kept up with the times by developing the expansive Sawgrass International Corporate Park. This is the largest business park in southern Florida and a major source of employment for residents.
Buying a Home in Sunrise
The median listing price for Sunrise homes typically falls a little below $200,000. Homes located in the southwestern arm of the city often sell for higher prices, and much lower prices are often found in the center of the city or on the eastern edge. Thanks to these affordable prices, more than 80 percent of the community owns the home in which they live.
If you’re moving to Sunrise with younger children, you may want to research the local schools before deciding on a neighborhood. Sawgrass Elementary School is the primary school with the highest ratings, and both local middle schools sometimes receive low ratings. There are no high schools within city limits, so you will need to determine the school zone assigned to each neighborhood if you have older children.
Popular Neighborhoods in Sunrise
For the lowest crime rates and access to some of the best Sunrise schools, stick to the western side of the city. The most popular neighborhood is located along the southwestern arm of the city, which is mostly south of the BB&T Center. You can expect to pay around $300,000 for a home in this area, and most of the houses are small to medium in size with up to four bedrooms. The vacancy rate typically stays well below 15 percent in this region, and you’ll find a healthy mix of rental properties throughout the community.
If you want to pay a bit less for your home without venturing to the less attractive eastern half of the city, look for a home north of NW 44th Street. Median home prices are around $250,000 here, and the vacancy rate is still below 15 percent.
Buying vs. Rent to Own Homes
Are you ready to own a home in Sunrise? Even though the real estate prices are quite low in this city, you may need some extra time to prepare for the mortgage-approval process. Rather than renting until you’re able to secure a loan and then moving into your new property, you can move into that property right away. If you’re wondering how, you haven’t explored rent-to-own properties yet.
These properties allow you to rent the property that you one day wish to buy. The current owner may remain responsible for repairs and upkeep of the property until you’re ready to secure financing to purchase the home. That’s when you transition from renter to homeowner without even having to move.
Cost of Living in Sunrise
The overall cost of living in Sunrise is on par with the national average. You can expect to pay slightly below-average real estate prices, and most goods and services are easily obtained at affordable prices. Some residents do pay about 20 percent more than average for transportation, but there are ways to budget for that expense.
Sunrise is an affordable city located in southern Florida. The community is a short drive from the coast, and residents can commute to Fort Lauderdale for employment as well as entertainment. With a variety of family-friendly neighborhoods and a large civic center for community events, this is one city that offers a small-town vibe without actually staying small. If you’re craving the Florida sunshine but don’t want to live right on the coast, this is one city that may fit your lifestyle and your budget.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
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.