Rent to Own Homes in West Palm Beach
The below results are primarily rent to own homes in Palm Beach County, FL:
Head toward the southeastern corner of Florida and you’ll find the city of West Palm Beach sandwiched between Palm Beach Gardens, Riviera Beach, Palm Beach and the Pond Cypress Nature Area. The Palm Beach International Airport is positioned just south of town, and several additional beaches are a short drive away. The city’s mainland is separated from Palm Beach Island by Lake Worth Lagoon, and the vast waters of the Atlantic stretch out beyond the shores of Palm Beach.
From the Palm Beach Canal to the Beach Historic District, the local government goes to great lengths to protect the natural treasures of the area while providing outdoor recreation opportunities for residents. When you move into West Palm Beach, you can expect to spend much of your free time in the sand, soaking up the sunshine and relaxing on the water by boat. As part of Palm Beach County, the city is home to Palm Beach Atlantic University, Palm Beach Zoo, Norton Museum of Art and Mounts Botanical Garden.
Entertainment options in this area include Cruzan Amphitheater, Peanut Island and Lion County Safari. Whether you enjoy walking in local parks or visiting upscale restaurants and partying through the night, there’s a way to make it happen in this lively Florida city.
Buying a Home in West Palm Beach
Though median listing prices are often close to $250,000 in West Palm Beach, the median sales price is typically closer to $180,000. Most of the public schools are rated above average, so you can live in almost any area of town without worrying about the quality of education that your children will receive. Before selecting a neighborhood, think about how close you want to live to the coast. While waterfront properties are typically more expensive than comparable homes found further inland, they also provide a special lifestyle that you can’t enjoy away from the coast.
Popular Neighborhoods in West Palm Beach
If you enjoy wide, tree-lined streets, the organization of an active neighborhood association and seasonal events designed to bring the community together, you’re well suited to the Flamingo Park neighborhood. It’s close to the downtown area, so you have many options for entertainment, shopping and dining out. This is a more expensive area of town because it’s a historic district with many beautifully restored single-family homes.
If you need more affordable property, consider a home in the Lake Mangonia neighborhood. You’ll have direct access to outdoor recreation opportunities, and the median listing price for homes is around $140,000. There is some competition for homes in this area, so you may notice that the median sales price is closer to $150,000.
Buying vs. Rent to Own Homes
Should you buy your home outright or take the time to rent and settle in before making the sale official? Rent-to-own contracts are one of the best inventions to hit the real estate market because they give all potential homeowners the chance to purchase their dream home. If you know that you want to buy a home in West Palm Beach but you have some financial or personal matters to settle first, this is your opportunity to move immediately into the home that you will one day buy. You start out as a renter, but you have the right to purchase the property before the end of your contract.
Cost of Living in West Palm Beach
The cost of living in West Palm Beach is comparable to the national average. Real estate prices may go slightly above average at times, but there are also times when it can slip down to 10 percent below the national average. Everyday goods and most food products are reasonably priced, and many residents pay slightly less than average prices for utilities and healthcare. This is one coastal city that may allow you to live right on the water without destroying your budget.
West Palm Beach, Florida, is the ideal home place for any beach lover. Located close to Palm Beach Island and within a short drive of several additional beaches, you could easily spend all of your downtime lounging in the sand or exploring the waters by boat. The real estate market also offers affordable prices, and the overall cost of living is comparable to the national average. This is a coastal town with some upscale neighborhoods as well as urban areas with affordable home prices, so everyone can find their slice of heaven here.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
When you’re looking for your first townhouse or condo, you learn pretty quickly that it’s difficult to secure financing for houses when you have bad credit. However, you can find properties, like apartments, in our free listings that might meet your needs.
Our database includes free listings for cheap properties available for lease-purchase, rent to own by owner, foreclosed homes and owner financing. Many of these programs will work with you with no credit check.
The convenient part of rent to buy and lease to purchase agreements is that they give buyers time to prepare to purchase a home by saving up a down payment and improving their credit score. Owner financing often has less stringent requirements than conventional financing. Search for properties near me to find the program that’s most convenient.