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Rent to Own Homes in Maryland
The below results are primarily rent to own homes in :
With shorelines meeting the Chesapeake Bay and the Atlantic Ocean, Maryland is one of the best places to live in the United States if you want to enjoy life by the water. The shoreline along the bay is home to Fort McHenry, the state’s science center, an aquarium and many other popular tourist destinations. Blue crabs are served up in abundance at bayside crab shacks, satisfying seafood lovers from around the world. If you’re a commuter, you may also appreciate that this small state is conveniently located near Washington D.C. and West Virginia.
Residents of Maryland enjoy spending time outdoors, but they also invest heavily in education and historical exploration. The state is home to the University of Maryland as well as the Southern Maryland Community College. Baltimore is a port city with tremendous historical significance to United States history, and it’s a great place to spend time walking through museums.
For cultured residents and visitors, Baltimore City is a rich source of entertainment that the whole family can enjoy. Whether you’re visiting the wild horses at the Assateague Island National Seashore and State Park on the eastern Maryland shoreline or hiking the mountains and watching historical reenactments in western Maryland, there’s never a shortage of fun in this state.
Buying a Home in Maryland
The average price of a single-family home in Maryland is $150,000, but there are some exclusive and waterside neighborhoods where the prices can easily double or triple that figure. There are areas where you can secure beautiful homes for less than $100 per square foot, and then there are neighborhoods where final prices are substantially higher.
Many of Maryland’s larger cities are centered on condos and apartment complexes, but you can find a variety of single-family homes in rural and suburban areas. Before you start working with a realtor to explore your options, determine your ideal budget as well as your maximum budget. You may also want to determine the features that you must have in your home, including the number of bedrooms needed and whether you want luxury amenities like a swimming pool. Once you know what you want, an experienced real estate agent can help you identify homes throughout the state that will meet your needs.
Popular Neighborhoods in Maryland
Frederick, Maryland is one of the best neighborhoods for business professionals, entrepreneurs and families of all sizes. While it is located rather close to Washington D.C., it also has its own thriving economic center with jobs available in a variety of industries. There are exclusive streets lined with upscale shops as well as ball fields, art museums and theaters. The city is also home to some of the best public schools in the state.
If you want to live in Baltimore, consider buying a home in thriving neighborhoods like Canton. This area is full of small restaurants and local entertainment venues, including a women’s roller derby team, a community pool and a karaoke bar. If you prefer a more rural living environment, you may find the perfect home in the suburb known as Cockeysville.
Buying vs. Rent to Own Homes
You experience a unique sense of achievement when you sign the contract for your first home purchase. While the process of selecting the perfect home is often daunting and the process of sealing the deal with the current owners is typically scary, there’s nothing like picking up the keys and knowing that you are now a homeowner. Unfortunately, this is an experience that many people may never experience because they are hesitant to walk into a lender’s office and start the traditional process of applying for a home loan.
An alternative to the traditional home-buying process is now giving many long-term renters the chance to secure their own homes. This alternative is the rent-to-own contract. If you choose this path to home ownership, you start out renting the property. You get to move in right away, but the current owner retains legal rights to the property until you purchase the home at a later date. There are a variety of specific terms that may define this type of agreement, so make sure to read the fine print and ask questions before determining if this is the right home-buying option for you.
Cost of Living in Maryland
The overall cost of living in Maryland is approximately 16 percent higher than the national average. This largely reflects the cost of housing, which is more than 40 percent higher than the national average. Other expenses range from 5 to 10 percent above the national average, and some goods and services may fall slightly below average. Since some cities and neighborhoods are more expensive than others, it is possible to find homes that fit with virtually any budget. You just may not have as many options if you are shopping on a tight budget in this state.
Located close to Washington D.C. and surrounded by large bodies of water, Maryland is a beautiful city with a thriving economy. Residents can choose between large cities like Baltimore or many smaller towns offering homes in a more rural setting. You can live by the port and enjoy fresh blue crabs any day of the week or head out into more remote areas to live on a farm. You can live miles away from the nearest store or just minutes from a street lined with boutiques. While the state is small, it manages to deliver a comfortable living environment for everyone.