Rent to Own Homes in Newton
While Newton started as a stop along the railway as it expanded throughout the country, it's now known as a quiet, family-friendly town. The city is respected for its low crime rate, the high-quality Newton Public Schools system, and the cozy nature of most neighborhoods. Many residents move here because they want to live in a quiet, safe city while remaining a short drive from the entertainment, recreation and employment opportunities available in Boston.
Some of the best attractions in Newton are the small parks, lakes and historical sites. Norumbega Park offers a beautiful meadow and a variety of walking trails winding along the river. The Beaver Brook Reservation offers a woodland park that features multiple historic buildings, and Jackson Homestead is a museum featuring buildings constructed before the Civil War. Many residents also flock to Nahanton Park to enjoy the pond, multiple walking trails and more than 50 acres of green space.
When you consider the scenic parks, the cozy neighborhoods, and the fact that the Fig Newton cookie was named after this city, it's easy to see why it has been declared one of the best suburbs in the country.
Buying a Home in Newton?
While the median listing price for homes in Newton is often over $1 million, the median sales price is often around $900,000. It may even go lower than that figure at times. It's common for buyers to pay more than $400 per square foot in some neighborhoods, but there are also some homes that sell for significantly less. It's important to know your maximum spending limit and to work closely with a knowledgeable real estate agent because this is an aggressive market. It's common for sellers to receive more than three offers before making a deal.
Popular Neighborhoods in Newton?
One of the more established neighborhoods in Newton is known as Newton Corner. This was one of the first residential areas established in the city, and it now contains a variety of shopping centers, restaurants and other local businesses. If you have a high school student in the family, you may prefer the Oak Hill neighborhood for its close proximity to one of the best high schools. For students and staff members working at Boston College, Chestnut Hill is the leading neighborhood.
Buying vs. Rent to Own Homes?
You can continue renting your home in Newton, or you can invest in a rent-to-own property. These homes are up for sale, but the current owners have agreed to allow a qualified candidate to rent their way to home ownership. You start out renting the property, but you have the option to purchase the home before your contract expires.
Other buyers are prevented from making offers on the property during your rental phase, and you have an opportunity to save a more substantial down payment to reduce the amount that you must borrow. That can make a tremendous difference in your mortgage payment in an aggressive market like Newton.
Cost of Living in Newton?
With a housing market that more than triples the national average, it's no wonder that Newton's cost of living is about double the national average. You can expect to pay slightly higher-than-average prices for everything in this city. This includes transportation expenses, food and most services. While there are ways to save on your utility bills and to reduce your grocery bill, you will still need to budget carefully if living in Newton on a more conservative income.
The Fig Newton cookie was named after Newton, Massachusetts, and the city has been declared one of the best suburbs in the United States. It's positioned less than 10 miles from Boston and offers residents easy access to a variety of open green spaces, parks, lakes and historical sites. From the wooded trails of the Hammond Pond Reservation to the vast open green space available at Nahanton Park, this is one community where residents enjoy an active lifestyle year-round. Though the cost of housing is quite high here, the quality of life is well worth the expense.
Summary
The Fig Newton cookie was named after Newton, Massachusetts, and the city has been declared one of the best suburbs in the United States. It's positioned less than 10 miles from Boston and offers residents easy access to a variety of open green spaces, parks, lakes and historical sites. From the wooded trails of the Hammond Pond Reservation to the vast open green space available at Nahanton Park, this is one community where residents enjoy an active lifestyle year-round. Though the cost of housing is quite high here, the quality of life is well worth the expense.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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