Rent to Own Homes in Manchester
The below results are primarily rent to own homes in Hillsborough County, NH:
Manchester is located within the New England region of the United States and is positioned in southern New Hampshire just north of the Manchester-Boston Regional Airport. The city is approximately 18 miles south of Concord, New Hampshire and less than 40 miles north of Lowell, Massachusetts. It’s also a short drive to the coastal towns along the Atlantic Ocean, so there are many employment and entertainment opportunities for residents.
Once you visit this New England city, it’s clear that downtown Manchester is the heart of the community. This area is home to more than 100 restaurants as well as entertainment venues like the Verizon Wireless Arena. There are hundreds of businesses providing employment to locals, and many of them work from stylish mill buildings that were restored rather than demolished. This gives the downtown area a distinct charm and makes it a great place to work, shop, dine and live.
Manchester started out as a large center for textile manufacturing, and one of the first local businesses was Manchester Locomotive Works. This company created steam locomotives and fire trucks and helped the city thrive in its early days. Today, the Manchester offers jobs in sales, insurance, finance and many other industries in addition to manufacturing.
Buying a Home in Manchester
The median listing price for homes in Manchester, New Hampshire, is typically around $200,000, and you can often find more than 500 homes on the market at any given time. Some smaller homes or established homes in need of tender loving care may sell for $150,000 or less, but you can expect to pay at least $200,000 for homes in the best Manchester neighborhoods. Luxury homes with upscale amenities or larger homes with more than four bedrooms can easily sell for more than $300,000, but you don’t have to go that high in price to find a comfortable home located near quality public schools.
Popular Neighborhoods in Manchester
One of the more prominent neighborhoods of Manchester is Massabesic. It’s located on the eastern edge of the city and features many single-family homes that typically sell for more than $200,000. Most homes in the area are occupied by their owners, and the vacancy rate is lower than the state and national average.
Another neighborhood with similar home prices is Goffs Falls. It’s located along the southern edge of the city just north of the airport. If you’re shopping for a Manchester home on a limited budget, look for homes in the northwestern corner of the city. The neighborhood south of I-293 in that area offers more homes selling for less than $200,000, and the crime rates aren’t as high as they are in the downtown area.
Buying vs. Rent to Own Homes
When you think about purchasing a home, you probably start worrying about your credit score, checking your savings account balance and wondering how much paperwork you will have to complete. The traditional home-buying process requires you to secure financing before you know what you can afford to spend on your new home, but you may not have to go through the full process before you select your next home. When you look for rent-to-own properties in Manchester, you have the opportunity to move into your home right away while worrying about the paperwork and your down payment at a later point.
You’re still on the road to owning a home when you select a rent-to-own home, but you have some time to secure financing with a reputable lender. You can spend more time saving for your down payment while living in your home, or you can improve your credit score to ensure that you qualify for the best possible interest rate when you’re ready to make the home yours officially.
Cost of Living in Manchester
The overall cost of living in Manchester, New Hampshire, is slightly higher than the national average. This is mostly due to higher utility expenses, but the housing market is slightly above the national average as well. While you may spend more money on your home than you would in some other states, you can often make up for that by spending a little less on groceries and other everyday expenses.
Manchester, New Hampshire, is often associated with the bustling downtown region, but there are many smaller communities within the city where residents enjoy quiet lives. These smaller neighborhoods are more budget-friendly than the downtown residential areas, and they are often located close to higher-rated public schools. This gives every resident the option to enjoy an active lifestyle in the big city or to live in a suburban area while taking the short commute into the business district. Since Manchester is located close to the ocean and a couple other big cities, there are many opportunities for outdoor recreation and entertainment.
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
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
Reported Annual Crime In Manchester