Rent to Own Homes in Yuma
What makes Yuma different from many other cities in the United States is the presence of the Marine Corps Air Station Yuma, the U.S. Border Patrol and offices for Yuma County employees. All of these serve as major employers for residents, in addition to the Yuma Union High School District and the elementary school district. There are five high schools in the city, including an alternative high school. Students also have access to a private Catholic high school located within city limits.
In addition to the military presence, you'll find a lot of retirees flocking to their winter homes in Yuma during the winter months. California's Bard Valley and Winterhaven are often thought of as part of the local community, and many residents take full advantage of employment and entertainment opportunities in those neighboring cities.
Buying a Home in Yuma?
Median listing and sales prices in Yuma are typically well below $200,000, but that doesn't mean that you can't find some high-end properties selling for $1 million or more. There are some spectacular properties that sell in that upper end of the market, but the city also offers a variety of housing options for those with a more modest budget. You can find properties selling for less than $100 per square foot while other properties sell for substantially more. This creates a dynamic market that can easily suit the needs of buyers with a wide range of financial assets.
Yuma is a low-crime city, and all of the local elementary schools are highly rated by parents. The middle and high schools aren't always rated as highly, so you may want to consider moving near the Catholic private high school if you're concerned about the quality of education in public schools.
Popular Neighborhoods in Yuma?
One of the more popular neighborhoods in Yuma is located just west of the Yuma Municipal Golf Course. It extends from the edge of the golf course out to South Avenue D and spans from West 24th Street in the north to West County 14th Street in the south. Mesquite Elementary School is located toward the northern edge of this neighborhood. You can expect prices above $250,000 for many homes in this area, and most homes have at least three or four bedrooms. Most of the homes are owner occupied, and the vacancy rate is typically below 12 percent.
Buying vs. Rent to Own Homes?
Do the homes for sale in Yuma tempt you to apply for a mortgage loan? This is a big step that you should prepare for ahead of time, but you don't have to choose between applying right now and waiting until you're ready to move. The in-between option is the rent-to-own contract, which allows you to move into the property as a renter. You then have the right to purchase the home before a specified date. This gives you time to prepare for homeownership without delaying your move-in date.
Cost of Living in Yuma?
Even though the cost of housing in Yuma can drop 20-30 percent below the national average, the overall cost of living for the city is comparable to the national average. This is due to above-average prices for utilities, groceries and many everyday goods and services. Most residents tend to pay average prices for transportation and healthcare, so it all averages out to a reasonable cost of living.
Yuma, Arizona, is home to a Marine Corps Air Station and the U.S. Border Patrol, which both provide many jobs for the local area. Other major employers include the Yuma elementary and high school districts and some large retail employers. The city is known as a low-crime community located so close to the California border that neighboring cities across the state line feel like a part of the Yuma family. The cost of housing can drop up to 30 percent below the national average at times, but the overall cost of living is comparable to the national average.
Summary
Yuma, Arizona, is home to a Marine Corps Air Station and the U.S. Border Patrol, which both provide many jobs for the local area. Other major employers include the Yuma elementary and high school districts and some large retail employers. The city is known as a low-crime community located so close to the California border that neighboring cities across the state line feel like a part of the Yuma family. The cost of housing can drop up to 30 percent below the national average at times, but the overall cost of living is comparable to 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
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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