Rent to Own Homes in Vancouver
The below results are primarily...
The below results are primarily rent to own homes in Clark County, WA:
Lush Vancouver lies just north of Portland, Oregon, across the Columbia River. To the east is the Columbia River Gorge and the Cascade Mountains, to the west is the small Tualatin Mountains and the Willamette River’s convergence with the Columbia. The result of these majestic natural features is a city that is known for its green space, beauty and thrilling recreation.
Vancouver itself has a long history, and locals can explore its early days in the Hudson’s Bay Company fur trade at the Fort Vancouver in Downtown Vancouver. At the Fort Vancouver National Historic Site, visitors can roam the old Army barracks, tour the Pearson Air Museum and interact with living-history demonstrations in the blacksmith and carpenter shops.
Buying a Home in Vancouver
The Vancouver housing market is booming, with homes selling in less than 20 days. The number of existing homes sold has also increased 12.8 percent to about 387 sold per month. The average listing price for a Vancouver home is $309,000, while the average actual sale price is $259,000. Distressed properties like short sales and foreclosures are down 8.1 percent, and bank-owned homes have decreased 11.6 percent. The median selling price of a foreclosed home in Vancouver is $180,500.
Popular Neighborhoods in Vancouver
Families enjoy the suburban feel of the Cascade Highlands neighborhood, where amenities are close by and comfortable homes from the late 1980s and early 1990s have a median sale price of $226,000. Singles, couples, families and retirees relish in the pedestrian and bicycle paths of Ellsworth Springs. Homes and apartments here have a median price of $292,000. Millennials and couples also enjoy the social and cultural benefits of living in Downtown Vancouver. There, mid-rise condo developments offer unbeatable city views and put residents just steps from the farmers market, community festivals, sports arenas and nightlife. Homes and condos in downtown have an average selling price of $271,213.
Buying vs. Rent to Own Homes
Rent to own homes can pave the way into a seller’s market, helping first-time home buyers take the step into home ownership. With most traditional home purchases, buyers must have a large down payment ready, an excellent credit score and the wherewithal to deal with mortgage bankers, home inspectors and title agents. Rent to own homes don’t place so much emphasis on financial issues. Instead, buyers pay an one-time option fee and monthly rent for the contract period. Other benefits include the ability to move into the home right away, enjoy currently lower home prices and delayed down payments.
Cost of Living in Vancouver
Life’s necessities are slightly more costly in Vancouver, with an overall cost of living that is 9 percent greater than the national average. The only expense category that falls below the rest of the country’s is energy, which costs 3 percent less than the national average. All other cost categories are more expensive, including groceries at 2.7 percent higher and healthcare, transportation and housing at 13 to 16 percent above the national average.
One of Money magazine’s top 100 places in America to live, Vancouver is rich in mountain biking, river sports, industry and history. The pleasure of living in this town of 161,791 people comes from the city’s beautiful scenery, genial residents and nice mix of homes. These homes have a variety of features, including city and waterfront views of Downtown and close-knit communities like Cascade Highlands. It’s a seller’s market in Vancouver these days, with homes selling very quickly and at ever-increasing prices. Living among all of Vancouver’s bounty has an expense, though, and it’s in a cost of living that’s 9 percent above the national average.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
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.