Rent to Own Homes in Montgomery

The city was named after Richard Montgomery and still offers a variety of historical venues that preserve Alabama’s place in United States history. For instance, the Montgomery area is home to the Civil Rights Memorial and the First White House of the Confederacy. Other cultural attractions include the Alabama Department of Archives and History and the Montgomery Museum of Fine Arts.

Montgomery residents are served by Montgomery Public Schools, Eastdale Mall and the Shoppes at EastChase. The city’s climate allows all four seasons to make an appearance each year, but the summers are much longer than the winters.

Buying a Home in Montgomery

While it’s possible to live comfortably without a personal vehicle in many large cities, that isn’t the case with Montgomery. Public transportation systems aren’t as well developed here as in New York City and other most other urban centers across the United States. You may find communities with a few shopping centers or restaurants within walking distance of homes, but most residents cannot get to and from work without a car waiting in the driveway each day.

Popular Neighborhoods in Montgomery

If you’re searching for affordable home prices and access to some of the best schools in Montgomery, head north on I-65 to the Prattville suburb. The area is known for exceptional schools and stellar youth activities and sports programs. Forest Park is a popular area near Alabama State University, and many of the largest homes in the city are located in the Old Cloverdale neighborhood.

Buying vs. Rent to Own Homes

What’s stopping you from taking out a loan and purchasing the Montgomery home of your dreams right now? If you’re like many consumers today, you’re concerned about securing the lowest interest rate and offering a sizable down payment to ensure reasonable loan terms. If you’re interested in buying an expensive home, then you may want to take more time studying the market to ensure that you buy the right home at the best price possible.

In all of these circumstances, it makes sense to consider a rent-to-own agreement. Rather than buying the home outright, you move in as a renter first. While renting, you have the opportunity to study the housing market or improve your credit so that you get the best home loan terms. Your agreement will allow you to purchase the home, so you can move into your dream home today while waiting to take out your loan.

Cost of Living in Montgomery

The cost of living in Montgomery is approximately 10 percent lower than the national average. Housing prices are about 30 percent lower than the national average and constitute the smallest expense for many residents. Prices for utilities, transportation, goods and services are all more comparable to the national average, so this is a city where you can live comfortably even on a limited budget. If you do have a sizable income, you can stretch your dollar further to secure a larger, more luxurious home for a lower price than you would pay in most other large cities today.

Summary

The cost of housing in Montgomery is substantially lower than the national average, making this a safe place for low-income buyers. It’s also a great place for luxury home buyers because large homes are more affordable than in many other large cities. Montgomery played a prominent role in United States history, and there are many cultural venues in the city that pay tribute to that past. The city is also home to an air force base and Alabama State University, so the community features a healthy blend of professionals, military families and students.