Rent to Own Homes in Huntsville
The below results are...
The below results are primarily rent to own homes in Madison County, AL:
Beautifully located in central North Alabama, Huntsville is both a busy metropolis with high-tech industry and a quiet town with abundant parks. The Huntsville city itself is home to a little more than 180,000 residents, but the Huntsville metropolitan area that extends beyond Huntsville city limits encompasses 435,737 people, making it Alabama’s second most populous region.
Known for the NASA Marshall Space Flight Center and the U.S. Army Aviation and Missile Command, Huntsville is home to the world’s fourth largest research complex, Cummings Research Park. Outside of work and industry, the city’s engaging history and culture make it one of America’s “Distinctive Destinations.” Visitors who have conveniently flown into Huntsville International Airport especially enjoy exploring Historic Huntsville Depot and Museum, Huntsville Museum of Art, Botanical Garden and dining on chic Cotton Row.
Buying a Home in Huntsville
The Huntsville area’s housing market is strong, with home sales growing 8.5 percent to 497 homes a month. Area house hunters have 2,993 homes to consider, which is 5.9 percent fewer homes than in the previous year. On the other hand, there are 2.2 percent more new homes on the market today, giving home buyers plenty of existing and new-home options. The median price of all homes on the market is fairly steady, rising .6 percent in the past year to a still-affordable $168,000.
Popular Neighborhoods in Huntsville
The city’s south and east neighborhoods are very popular, as are the city’s three historic districts: Twickenham, Old Town and Five Points. Historic Twickenham boasts Alabama’s most concentrated collection of antebellum homes, while Old Town’s pecan trees shade Victorian, Greek Revival and Art Deco homes. Elsewhere in the city, Monte Sano Mountain is a unique blend of modest and affluent homes just five minutes from downtown. Families and executives also enjoy Hampton Ridge homes where the community amenities are top-notch. The exclusive and gated golf community of The Ledges of Huntsville Mountain appeal to a more affluent lifestyle.
Buying vs. Rent to Own Homes
Buying a home can be a harrowing rush of paperwork and negotiations, but buying a rent to own home can remove some of stress. With rent to own homes, financial requirements are more relaxed and the down payment is delayed until the end of the contract period. With rent-to-own contracts lasting one to three years, buyers have time to repair credit scores and to find mortgages. Best of all, there’s no waiting for escrow to close before moving in.
Cost of Living in Huntsville
Huntsville is a beautiful place to live, and its economical cost of living just adds to its appeal. Overall, locals spend 3 percent less on living expenses than other Americans, with groceries and housing 7 percent below the national average. Healthcare is 6 percent below average and utilities and transportation are both 2 percent cheaper than in the rest of the nation. Most of the city’s costs are also below those in other Alabama cities like Birmingham and Mobile, where living expenses like housing and food are 10 to 20 percent more expensive than Huntsville.
Rocket City’s thriving technology- and military-based economy enhances the city’s already-considerable appeal. Homes here range from historic to brand new and offer a pleasing variety of architectural styles, landscapes and amenities. Many of these diverse neighborhoods offer quick and easy access to downtown, even when they are at the top of Monte Sano. In many other cities, all of these ideal living conditions would translate into a high cost of living, but Huntsville is different. Here, the cost of living is below the national average and even cheaper than in many other Alabama towns, giving it extra appeal as the perfect hometown.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.