It is also worth noting that during this period the owner of the property will still have the responsibilities associated with making sure the house is safe and livable, this means things like maintenance will be done by the landlord. During this five-year period, the buyer will also have time to build up their credit scores and can potentially secure a mortgage because they require less money from the bank. It’s up to the homeowner to decide what percentage of the rental income goes toward the purchase of the house. This brings the purchase price down to $300,000. If $1,000 of that goes towards paying for the home, then the renter would have paid $60,000 over five years. This makes the purchase more affordable to the buyer, while the homeowner is able to bring in a little rental income along the way.įor example, if a home would normally sell for $360,000 then a renter might pay $2,000 per month in rent over five years (60 months). During this period, the buyer pays rent to bring down the overall cost to buy the house. This occurs when a potential buyer agrees to rent the home for a period of time (typically one to five years) before buying it from the homeowner. Learn more about this option before you search, “rent to own homes near me.” How Rent-to-Own Homes in Norco WorkĪ rent-to-own home is also called a lease-to-own home. Some people are looking into rent-to-own options to secure desirable properties. In a competitive housing market like Norco, many buyers are getting pushed out of bids because they can’t make full-cash offers.įortunately, you have options when it comes to potentially owning a home of your own. Even with VA loans and first-time homeowner programs, it can be hard to save for a downpayment and get pre-qualified for a mortgage. Don't miss this chance to own a meticulously designed horse property that embodies elegance.Not everyone is financially ready to buy a home. Revel in the expansive backyard that defines the essence of the equestrian lifestyle, all while indulging in stunning valley views that create an atmosphere of serenity. Parking and storage are effortlessly accommodated in the spacious 4-car garage, catering to all your automotive and storage needs. For golf enthusiasts, the proximity to Hidden Valley golf course offers endless opportunities for leisure and enjoyment. The breakfast nook is the perfect spot to start your day, basking in natural light while savoring your morning coffee. The master bathroom exudes sophistication and style, providing a private oasis for rejuvenation. Rest and relaxation are paramount in the master suite, complete with not one, but two walk-in closets that offer unparalleled storage possibilities. Enjoy a seamless transition to the outdoors through the multiple access points that provide picturesque views of the meticulously maintained grounds and the captivating valley beyond. A sparkling fireplace graces the living area, creating a cozy focal point that is equally inviting and comforting. The home's interior showcases exquisite laminate flooring that radiates warmth and elegance, leading you through the open layout. A walk-in pantry provides practical storage solutions, ensuring a clutter-free living space. With style and function in mind, the marble backsplash adds an elegant touch, complementing the luxurious ambiance. The pristine white quartz countertops extend to a substantial kitchen island, perfect for both culinary creations and social gatherings. The gourmet kitchen is an epicurean's delight, featuring brand-new stainless steel appliances, including an impressive 6-burner stove. this home boasts the finest details and finishes. Step inside and be captivated by the grandeur of the high ceilings, enhancing the spaciousness of each room. The vast lot offers ample space for your equine companions and a lifestyle centered around outdoor enjoyment. Constructed in 2004, this home seamlessly blends modern aesthetics with equestrian living, making it a horse enthusiast's dream. Encompassing a generous 3,176 square feet of living space on an expansive 27,007 square foot lot, this property is a true masterpiece that caters to your every need. Experience the epitome of luxurious living in Norco, CA, with this exceptional 5-bedroom, 3-bathroom single-story home.
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