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Rent to Own Homes in Massachusetts
The below results are primarily rent to own homes in :
Massachusetts is located just east of New York in a section of the United States known as New England. The state also borders the Atlantic Ocean, including the 42-mile long Massachusetts Bay. The city of Boston is located on the western tip of the bay and is the most noteworthy city in the state. Many visitors come to this city each year to visit Freedom Trail and enjoy a bowl of authentic New England clam chowder.
Visitors interested in more luxury head to the southeast end of the state and visit the beaches of Cape Cod. The island of Nantucket is one of the most scenic destinations and is located approximately 30 miles south of Cape Cod. Visitors as well as many locals enjoy visiting Nantucket and Provincetown for whale watching adventures.
For residents, Western Massachusetts is one of the most popular regions. This area is home to many trendy museums and has an active nightlife. From the bars and clubs to Symphony Hall in Springfield, there is no end to the musical enjoyment available in this part of the state. With many colleges and universities located in the area as well, this is a great place for younger residents to keep their social lives active.
Buying a Home in Massachusetts
When you buy a single or multiple-family home in Massachusetts, you own the land as well as the house. While you can find some land lots on the market, most buyers purchase homes that are already built and ready for immediate move in. You may also choose to take advantage of a foreclosure home, but make sure to consider the financial investment and time required to get the property in move-in condition. If you aren’t concerned about owning land and enjoy living within close proximity to others, there are also some nice condominiums for sale in many Massachusetts cities.
Popular Neighborhoods in Massachusetts
If you want to live near the water, Provincetown is your ideal Massachusetts home. It’s located on Cape Cod, so residents have direct access to more than 100 restaurants and a variety of scenic ocean views. There are more tourists in the area and you will pay more for your home than in many other parts of the state, but the right buyer will consider these homes more than worth the investment. If you prefer Cape Ann and slightly fewer tourists, check out the Rockport area instead.
For families concerned with the quality of public schools, Hamilton is one of the best Massachusetts cities. Students in the area boast the highest SAT scores in the state, and the adult residents are among the most educated. You’re away from the water in this area, but there are a variety of restaurants and many opportunities for family-friendly recreation.
Buying vs. Rent to Own Homes
If you think of your housing options in terms of renting versus buying, there’s one more option that you should consider: renting to own. While buying a home requires you to contact a lender and receive advance approval that is based on your credit score, income, employment status and many other factors, rent-to-own deals allow you to rent the property before making that commitment. The property’s owner may even accept responsibility for maintenance and repairs while you’re in the rental phase.
In every agreement, there does come a time when you must secure a loan to purchase the home if you want to continue living there. Consider the rental phase a trial period where you can determine whether you want to make that house your home or not. You also have more time to find the right lender for your mortgage, helping you secure the best possible interest rate.
Cost of Living in Massachusetts
As with New York and other surrounding states, the cost of living in Massachusetts is significantly higher than the national average. The cost of housing is nearly double the national average, and you can expect to pay between 10 and 20 percent more than average for all other expenses. There are many factors that contribute to the higher prices, including proximity to many of the country’s best natural vacation destinations. If you’re moving from New York or California, you may not flinch when you see the real estate prices. If you’re moving from a more affordable area of the country, you may need to adjust your housing budget.
The state of Massachusetts is located in the northwestern region of the United States known as New England. While the cost of living in the area is higher than the national average, the state is also home to some of the most luxurious vacation destinations in the country. Residents are a short distance from Cape Cod, Martha’s Vineyard, Plymouth and the many attractions of Boston. Bordering New York, this state offers cold winters followed by spectacular summers with no end to the opportunities for outdoor recreation.