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Rent to Own Homes in Indiana
Positioned between Ohio and Illinois in the Midwestern United States is a state with a controversial historical past. Before the Indiana Territory could form, the Native Americans living on the land for many years were transitioned into reservations. They continue to exist in reservations today, serving as a stinging reminder of the history that runs behind many successful... Read More
Positioned between Ohio and Illinois in the Midwestern United States is a state with a controversial historical past. Before the Indiana Territory could form, the Native Americans living on the land for many years were transitioned into reservations. They continue to exist in reservations today, serving as a stinging reminder of the history that runs behind many successful communities now operating throughout the state. Indiana enjoys a healthy economy with many jobs available in the auto industry as well as life sciences, transportation and information technology.The below results are primarily rent to own homes in :
Positioned between Ohio and Illinois in the Midwestern United States is a state with a controversial historical past. Before the Indiana Territory could form, the Native Americans living on the land for many years were transitioned into reservations. They continue to exist in reservations today, serving as a stinging reminder of the history that runs behind many successful... Read More
Positioned between Ohio and Illinois in the Midwestern United States is a state with a controversial historical past. Before the Indiana Territory could form, the Native Americans living on the land for many years were transitioned into reservations. They continue to exist in reservations today, serving as a stinging reminder of the history that runs behind many successful communities now operating throughout the state. Indiana enjoys a healthy economy with many jobs available in the auto industry as well as life sciences, transportation and information technology.The below results are primarily rent to own homes in :
The Ohio River runs along the southern border of the state, passing through Louisville, Kentucky and continuing on to Cincinnati, Ohio. The scenic byway running along this river attracts a lot of visitors out to enjoy a long road trip, and many locals also enjoy the small antique shops, museums and other attractions located along the way. White River State Park is another outdoor amusement in this state, and the Marengo Caves are worth a visit as well. For those interested in sophisticated resort vacations, Indiana Beach in Monticello is the perfect place for pampering and relaxation.
For those choosing to make Indiana home, some of the most popular cities are Indianapolis in central Indiana, Fort Wayne on the Ohio border, and Lafayette in the northwest. These large cities are all connected with well-maintained highways, including Indiana State Road. There are also many small towns and cities throughout the state, and they all have their own personality and unique benefits for residents. Locals are free to select their hometowns based on personal preferences and employment opportunities, since affordable housing options are offered in all areas of the state.
Buying a Home in Indiana?
The Indiana real estate market is massive, and you can often find upwards of 50,000 properties for sale at once. Not only does this include a variety of single-family homes throughout the state, but it also includes townhouses, condos, empty lots and waterfront properties. There are also some multiple-family homes and rental units that you may consider as investment properties.
Whether you’re moving from one area of the state to another or from another state entirely, you may want to consult with a real estate agent to ensure that you consider all available properties that may meet your needs. With so many real estate listings in communities that are a short distance apart, it’s difficult to consider all of your options without some guidance from a professional.
The median value of homes in Indiana is less than $120,000, so you can easily find cheap properties for sale in various regions of the state. If you’re purchasing your first home and need help with the down payment and closing costs, talk to the Indiana Housing & Community Development Authority about inclusion in assistance programs for first-time homebuyers.
Popular Neighborhoods in Indiana?
Some of the most affordable homes in Indiana are located in the major city centers, including Indianapolis and Fort Wayne. These homes are ideal for those shopping on a limited budget or in need of direct access to public transportation and a variety of employment opportunities.
If you can afford to pay a bit more for your home and would like a more exclusive community removed from the city, you can look for properties in some of the suburbs. One option that keeps you close to jobs in Indianapolis is Meridian Hills. This is a small community about six miles north of the city, and home prices are upwards of $400,000. For that price, you get a beautiful neighborhood with streams and tree-lined residential streets surrounded by a variety of businesses, churches and safe schools.
If you love the holiday season and want to live in one of the most interesting areas of Indiana, consider the town of Santa Claus. This town lives up to its name by offering a variety of holiday amusements at the end of the year, and many families are drawn to this area for fun festivities year round. The town is also home to Holiday World & Splashin' Safari, a theme park with some of the best wooden and water roller coasters. The median home value in the area is around $150,000.
Buying vs. Rent to Own Homes?
While there are many affordable homes available in Indiana, you may still wonder if you have any alternatives to the standard home-buying process. If you don’t have much of a down payment saved or aren’t sure that you’re at the best time of your life to invest in a home, you may consider a rent-to-own agreement rather than a traditional loan. This type of contract allows you to move into a property immediately with the option to purchase in the future.
In most cases, those entering these agreements are within a couple years of qualifying for a home loan. They may have some issues with their credit to improve, and many are only held back by the need of a more substantial down payment. If you have similar problems, you may benefit from renting a home that you will eventually buy. If you use the rental period wisely, you can come out of the deal with a lower interest rate than you would have secured if you took a home loan from the beginning.
Not all Indiana homes for sale will offer this type of agreement, and the exact terms will vary. If you want to take advantage of this type of deal, you should shop specifically for homes offering this special agreement.
Cost of Living in Indiana?
Due to extremely low housing prices and below-average utility rates, the cost of living in Indiana is approximately 15 percent below the national average. Housing prices are more than 70 percent lower than the national average, creating one of the most buyer-friendly real estate markets in the United States today. While this is largely due to the high unemployment rate and foreclosure crisis experienced in years past, the state is now recovering with more jobs and a more active housing market. Other living expenses are between 5 and 10 percent below the national average, so you can live comfortably on a limited budget in all parts of Indiana.
The temperatures may drop quite low in the winter, but Indiana still has a lot to offer residents. The Ohio River trails along the southern border of the state, and locals enjoy easy access to Ohio, Illinois and other neighboring states. The Ohio River Scenic Byway is accessible from the southern portion of the state, and White River State Park offers fun outdoor entertainment for all members of the family. With a local theme park and the Indiana Beach resort, there’s always a way to get out of the house and enjoy time with loved ones. Home prices are more than 50 percent lower than the national average, and you’ll pay less for food, goods and services than you would in most other states. Whether you have a substantial or limited budget, you can get more home for your dollar in all areas of Indiana.
Summary
The temperatures may drop quite low in the winter, but Indiana still has a lot to offer residents. The Ohio River trails along the southern border of the state, and locals enjoy easy access to Ohio, Illinois and other neighboring states. The Ohio River Scenic Byway is accessible from the southern portion of the state, and White River State Park offers fun outdoor entertainment for all members of the family. With a local theme park and the Indiana Beach resort, there’s always a way to get out of the house and enjoy time with loved ones. Home prices are more than 50 percent lower than the national average, and you’ll pay less for food, goods and services than you would in most other states. Whether you have a substantial or limited budget, you can get more home for your dollar in all areas of Indiana.