Rent to Own Homes in Waco
The bridge is just one of the Waco’s treasured features though. The Waco Army Air Field is also important to Waco’s heritage and current livelihood, finding a post-military life as part of the Texas State Technical College, or TSTC Waco Airport. The city honors state law enforcement at its Texas Ranger Hall of Fame and Museum, and Waco acknowledges its Native American ancestors with a historical marker on the Waco village site.
Buying a Home in Waco?
Waco has the hottest housing market in the country, according to Realtor.com. House hunters have fewer options to consider, with the current number of homes on the market dropping by more than one quarter to 999. Meanwhile, average and median home prices have increased significantly during that same time period. Average prices rose more than 8 percent to $175,600, and median prices climbed 11 percent to $151,800. More than 180 Waco homes are in the foreclosure process, a 63 percent increase over the same month last year. These foreclosed homes have a median selling price of $51,965.
Popular Neighborhoods in Waco?
The rural setting and spacious ranch homes of the Speegleville/South Bosque area delights Waco’s established families. The neighborhood has a low crime rate, good schools and a median home price of $178,823. Families also like the Bosqueville/Bannas Junction area for its stellar neighborhood schools, comfortable homes, nice apartment complexes, safe streets and median home prices of $153,849. Waco also has a number of new home developments underway. Near Bosqueville, Flat Rock Village is one of these new developments offering new construction homes with prices up to the mid-$200,000s.
Buying vs. Rent to Own Homes?
Rent to own homes offer a number of advantages over conventional purchases, especially for buyers with complicated finances or insufficient down payments. Rent to own homes don’t rely on the buyer’s spotless credit rating, and the down payment isn’t required up front. Instead, rent to own home buyers pay a smaller one-time option fee and monthly rent. At the end of the contract period, usually one to three years, the buyer supplies the down payment supplemented by the option fee and monthly rent premium credits. Throughout the process, buyers live in their new homes.
Cost of Living in Waco?
Waco residents are blessed with an extremely low cost of living, enhanced by the city’s very affordable housing costs. Housing is so low-cost, in fact, that locals pay just 53 cents for every dollar the average American spends on housing. Other necessities are also affordable, with groceries, health care and utilities costing 10 to 18 percent less than the national average. Only transportation is more expensive than the national average, and even that is just 1 percent more costly. Altogether, locals can expect to spend 21 percent less on life’s essentials than the average American.
Excellent public schools, renowned universities like Baylor University and strong employers like Providence Health Center and L-3 Communications make Waco a popular choice for a home base. This appeal leads to a strong housing market, with attractive neighborhoods and homes that are rising in price but still completely affordable for most buyers. That affordable housing contributes to the city’s overall low cost of living that is just 79 percent of the national average.
Summary
Excellent public schools, renowned universities like Baylor University and strong employers like Providence Health Center and L-3 Communications make Waco a popular choice for a home base. This appeal leads to a strong housing market, with attractive neighborhoods and homes that are rising in price but still completely affordable for most buyers. That affordable housing contributes to the city’s overall low cost of living that is just 79 percent of the national average.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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