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Overview
Alabama doesn’t only embrace traditional and innovative industries, it also treasures its long history. This diverse state features green, lush landscapes as well as impressive historic homes and friendly locals.
Many aerospace enterprises are located in Alabama, including Armed Forces and Redstone Arsenal. Most legislative offices and big companies are headquartered in Montgomery – the capital of Alabama.
The most populous city is Birmingham with more than 210,000 residents. It is estimated that 1.1 million people live in Birmingham metro area. Other large cities in Alabama are Huntsville, Mobile, Hoover, Tuscaloosa, Dothan, and Auburn. These are considered to be the most popular places to live.
Buying a House in Alabama
The Alabama housing market is expected to remain competitive in 2021. Today, homes in this state still have an affordable price tag that averages $133,000. However, the high demand for properties guarantees the home prices will continue increasing in the months to come. Rent to own allows buyers to lock in the current housing price.
Remember that you will have to put a lot of effort and time into finding your dream home. Consider working with a realtor or a real estate agent. It will increase your chances of finding the perfect home within your budget.
Popular Neighborhoods
Before moving to Alabama, you need to have a good idea of where you want to live and work. Check out homes and neighborhoods in several cities. Match them to both your own needs and your lifestyle. That will help you find the ideal neighborhood that will warmly welcome you and your family.
Montgomery, Birmingham, Mobile, and Huntsville are top-rated cities to live and work in. They offer plenty of job opportunities. As a potential homebuyer, you will find a diverse range of house prices in congenial neighborhoods within these large cities.
- Avondale neighborhood in Birmingham is attractive not only to families and singles but also to retirees and seniors. In addition to walkable streets, this place is full of shops, restaurants, and art galleries.
- The area near the city of Huntsville is home to many military and aerospace facilities. It is also one of the most popular places to raise a family and work. There are a few historic neighborhoods in Huntsville like Twickenham, Old Town, and Five Points. You can find quite a lot of welcoming properties in these neighborhoods.
- If you want to live in Mobile and have a substitutional budget, you should consider Spring Hill. Go for a stroll and you’ll come across luxury mansions and antebellum homes for sale in this captivating neighborhood.
Rent to Own vs Buying
Why rent to own a home? Maybe you have found a dream home in a popular neighborhood that you can’t purchase right away because of a bad financial situation or poor credit score. If so, you should consider signing a rent-to-own agreement.
Just as with a traditional lease contract, you will make rental payments every month as a tenant. A certain part of your monthly payments will go toward the purchase price. That makes a huge difference.
Please note that this only applies if you buy the house when your agreement ends. Keep in mind that rent-to-own agreements usually come with an option fee.
How long does it take to go through this process? The rental period depends on the contract with the seller or homeowner – from 1 to 5 years. During this period, you need to build credit and improve your financial situation.
That will eventually help you qualify for a home loan, purchase your dream home, and become a homeowner. Take advantage of it!
Living Expenses in Alabama
The cost of living in Alabama is approximately 10% lower than the national average. Prices of most services and goods are equal to or slightly lower than the national averages.
Healthcare is around 12% cheaper than the U.S. average. Groceries, transportation, and utilities are just below or in the line with the national averages.
When it comes to housing, it’s 26% less expensive than the rest of the nation. Finding a cheap or reasonably priced home is not a big challenge. That makes Alabama an attractive state to live in and raise a family.
Conclusion
Alabama has a strong university system that includes many reputable colleges and universities. The University of Alabama is the most famous one. It features a prosperous sports program and campus life. However, the state is not only attractive to graduates and students.
It is also popular with families with kids and young professionals looking for job opportunities. Alabama offers a varied spectrum of amenities to residents, such as historic sites, beautiful beach resorts, and gorgeous parks.
A low cost of living and affordable housing also add to the popularity of this state. Most living costs are below the national averages while the home prices are pretty reasonable. From historic houses to new subdivisions and rent-to-own homes, there is a wide variety of options to choose from.
Reported Annual Crime In Alabama
| Statistic | Alabama | National |
|---|---|---|
| Violent crime | 9,875 | 370,388 |
| Murder | 301 | 19,131 |
| Rape | 1,077 | 86,726 |
| Robbery | 2,919 | 152,431 |
| Assault | 7,788 | 277,038 |
| Property crime | 32,429 | 1,216,038 |
| Burglary | 10,540 | 468,957 |
| Theft | 27,014 | 1,063,593 |
| Motor vehicle | 6,006 | 301,970 |
| Arson | 276 | 32,898 |