A lease to own housing involves a lease that gives you an option to buy the property within a specific period at a mutually agreed upon price.
The market for such lease programs is growing fast as it always has been in any post-crisis market. Most home buyers are not able to meet the tough loan prerequisite requirements of banks and other financial institutions. The sellers are also unable to sell their homes for what they believe they should be worth. They have an option to sell their homes via a rent to own program.
New York Real Estate – The Suddenly Affordable Alternative
New York is the fashion, music and business capital of the USA. It holds four of the five most densely populated boroughs in America, and is a hub for immigrants seeking anew way of life in the ‘Land of the Free’. If you are planning to move to New York in the future, it is important to consider which part of the city is best suited to your needs.
Queens is the eastern most borough of New York and is considered one of the more suburban boroughs of the city. Queen’s is a desirable area to live in with a low crime rate and fairly affordable housing compared to the rest of the city. New York housing costs are notoriously high, so expect rent or mortgage costs accounting for approximately a third of your wages almost anywhere in the city.
Brooklyn is the most heavily populated borough of New York. Housing prices are fairly high due to Brooklyn being so close to the centre of New York, with average crime rates compared to the rest of the city. Brooklyn is a collection of vibrant communities, and is a diverse and eclectic place to live.
The Bronx is the northern most county of New York and is the only borough to be based entirely on the mainland. It is often misconstrued as having a high crime rate and being a fairly gritty place to live. House prices in the Bronx have shot-up in recent times, but it is still a hub for commuters into the city, who have perhaps been priced out of moving into other boroughs.
Staten Island is the most family orientated boroughs of New York and has by far the lowest population. It is connected to the city via the Verrazano-Narrows Bridge and by a free ferry service that links the island to Brooklyn. Several of best schools and colleges within the city are based in Staten Island. The schools and colleges in the area there are amongst best in New York, making Staten Island a great suburban area for raising children.
Manhattan is the most upmarket and desirable place to live in New York. Similar to London’s square mile, it is the hub of business in the city, and this means house prices are high.With the area being such a popular place to live, the property market is extremely competitive, and bidding wars are common. Manhattan is an exciting place to live, as long as you are prepared to pay over the asking price for the privilege.
The New York real estate market offers a long list of choices for all types of buyers or renters.