Rent to Own Homes in Alexander City
Incorporated in 1872 as Youngsville, it was later renamed for the president of the Savannah and Memphis Railroad, Edward Porter Alexander. Much of the city was destroyed in a 1902 fire, which started in the Alexander City machine shop. Until recently, it was the principal city in the Alexander City Micropolitan Statistical Area that covered Coosa and Tallapoosa Counties. The statistical area was removed in 2013.The below results are primarily rent to own homes in :
Incorporated in 1872 as Youngsville, it was later renamed for the president of the Savannah and Memphis Railroad, Edward Porter Alexander. Much of the city was destroyed in a 1902 fire, which started in the Alexander City machine shop. Until recently, it was the principal city in the Alexander City Micropolitan Statistical Area that covered Coosa and Tallapoosa Counties. The statistical area was removed in 2013.The below results are primarily rent to own homes in :
Along with its proximity to Montgomery, Alexander City is just 71 miles from Birmingham and less than 125 miles from Atlanta. It has mild winters and hot summers; the average high in January is 58, and the average high in July and August is 91.
Buying a Home in Alexander City
The median home price is about $106,500, but the cost of luxurious lakefront property is considerably higher. Recent sales in Alexander City show a number of homes that sold for under $200,000, and some for under $100,000. About 56 percent of the homes are owner occupied. The median age is about 38, and about 48% of the population is married.
The Alexander City Schools district serves the area with three elementary schools, a middle school and a high school. The high and middle schools are both rated 8 (out of 10) by GreatSchools; the elementary schools have varied ratings, so families with school-aged children should consider this when neighborhood shopping.
Popular Neighborhoods in Alexander City
The most desirable place to live in Alexander City is in the south, nearer to Lake Martin. This is also where the city center is. The median home price is $111,000. The residences are primarily medium to small-sized single-family homes and mobile homes. The city center area is established but not old, with many residences built since 1970. Lakefront property can range from $300,000 to well over $1 million.
Buying vs. Rent to Own Homes
Alexander City may already be calling to you with its southern charm and wide variety of outdoor activities. Getting financing for a home, however, is a complicated process and requires a down payment and pre-qualification. If you’re not quite ready for that step, don’t worry. Many are taking advantage of rent-to-own opportunities. Renters agree to live in a home for a specified period of time and, after that time expires, they have the option to buy. A portion of each month’s rent goes toward a down payment to eventually buy the house. It’s a good alternative, as the tenant doesn’t need a huge outlay of cash. Instead, the down payment gradually accrues over a period of time, and the tenant can look forward to being a proud homeowner – without having to move!
Summary
With its mild climate, beautiful scenery, and proximity to the Tallapoosa River and Lake Martin, Alexander City has much to offer. And job growth is projected to be 40 percent over the next ten years. It has a small town feel and a great environment for singles, active couples, and families. And if you need a taste of big city life, it’s never too far away.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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