Browse Rent To Own Homes in Coral Gables, FL
Are you looking for a rent to own house in Coral Gables? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Coral Gables area.
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Featured Rent To Buy Houses in Coral Gables, Florida
Browse the following featured properties in the Coral Gables, Florida area, or click the link on this page to get access to the complete listings for Coral Gables rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Coral Gables Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area.
Without a reputable listing agency, finding these properties can be extremely difficult!
Sign up below to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Coral Gables, Florida
Coral Gables is a city in Miami-Dade County, Florida, located southwest of Downtown Miami with a total area of 37.2 square miles and a population of 51,227.
Coral Gables, a place where everything is calm, everything seems to obey a specific aesthetic sense and care of details, The houses, are mostly huge mansions surrounded by beautiful gardens of freshly cut grass.
In the city of Coral Gables predominates the architecture of Mediterranean style although, in some streets, constructions of colonial style, french or italian can be found.
It should be mentioned that The University of Miami is located in Coral Gables, and is the City’s largest employer.
Baptist Hospital of Miami is the second largest employer in Coral Gables.
The city In its whole is a major employment center, with almost as many people working in the City as living there.
Coral Gables is especially desirable to businesses because of its proximity to Miami International Airport, the Port of Miami, and downtown Miami, while also being convenient for executive housing.
The most important schools in the area are Coral Gables High School Founded in the year of 1950 The International Studies Preparatory Academy is the only school in the U.S. to offer an International Studies (IS) program based on an agreement with the governments of France, Italy and Spain. The George W. Carver Middle School ranked as one of the top public schools in the state. Ponce de Leon Middle School , Coral Gables Preparatory Academy, David Fairchild Elementary School, George W, Carver Elementary School, Henry S. West Laboratory School and Sunset Elementary to name a few.
About the places of interest, can be mentioned The Miracle Mile which is the center of a true downtown district, and is internationally known as the place for every bride to shop for all her wedding needs.:
Biltmore Hotel: In 1926 Merrick inaugurated this grand hotel with Spanish castle air crowned by an 18 meter tower that imitates the Giralda Seville.
Venetian Pool: The huge amount of limestone that was extracted for the construction of Coral Gables left a large quarry on which was built a dream pool, full of waterfalls and caves. It was created in 1923
Fairchild Tropical Botanic Garden that is an 83-acre natural preserve on the edge of Coral Gable.
Coral Gables also has the distinction of having four live theaters, as well as many fine art galleries.
Likewise, the City offers 22 parks with seven active playgrounds as well as 33 public tennis courts.
The Venetian Pool is truly a unique aquatic facility unlike any other in the Country. The Pool has been enjoyed by hundreds of thousands of people from all over the world.
In short, it is a great place to live in a quiet and with the facilities of residing in a city.
Zip codes: 33133, 33134, 33135, 33143, 33146, 33155, 33156, 33157, 33158.
Cities of Florida: