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Rent to Own Homes in Massachusetts

Overview

Massachusetts attracts a lot of visitors every year. Just like locals, they come to see Provincetown and Nantucket, popular whale-watching destinations.

Those who seek luxury enjoy their time at Cape Cod beaches. Nantucket Island is one of the most popular sites here. It is situated around 30 miles (by ferry) from Cape Cod.

Western Massachusetts is particularly popular. It has a great nightlife as well as lots of museums, universities, and colleges. Also, there are numerous restaurants, clubs, and bars. Along with Springfield Symphony Hall, they offer a unique musical enjoyment.

When it comes to the real estate market in Massachusetts, most homebuyers prefer purchasing move-in ready homes. For those who don’t like to live near other people and own land, there are condominiums besides multiple- or single-family homes.

Purchasing a Home in Massachusetts

First things first, you should decide on the place of living. Here are a few places homebuyers should take into account: 

  • Provincetown is perfect for those wanting to live by the water. You’d enjoy spectacular ocean views and have access to many restaurants. 
  • Rockport is another popular neighborhood in Massachusetts. This seaside town is suitable for people preferring places with fewer tourists. 
  • Hamilton is ideal for families and students looking for top-notch public schools. This rural-suburban town offers plenty of options for family recreation.

Once you have decided on your place of residence, you will want to check the housing prices. If you’re looking to buy the house in MA, be sure to consider the sales price before you enter into a purchase agreement. 

Renting to Own vs. Buying a Home

Renting a house is a favorable option for many people. As a renter, you can eventually buy the home after ending your tenancy. Unlike the home-buying process, rent to own deals let you rent a house before you make any commitment.

Fortunately, there are tons of rent to own properties in Massachusetts. If you plan to rent a home in this state, it is a good idea to peruse Massachusetts rent rules first. Pay special attention to private renting requirements and limits on late rent fees. 

The option fee is something that many renters pay the sellers in addition to the rent premium. This amount is set in the tenancy agreement. It is included in the down payment when purchasing the home upon the tenancy ends.

Massachusetts Cost of Living 

Massachusetts features a high cost of living. As for the housing costs, they are about twice as much as the national average. 

For almost all expenses, the residents of Massachusetts pay up to 20% more than average. The higher prices are mostly associated with the vicinity of popular vacation spots. This is especially true for real estate prices.

Conclusion

Whether you want to rent or purchase a home in Massachusetts, take into consideration the high cost of living. That’s because of the proximity to luxury travel destinations like Plymouth Cape Cod. Positioned east of New York, this state in the New England region adjoins the Atlantic Ocean.

That attracts not only visitors but also many sellers and renters. Not everyone can afford to buy a house or apartment here due to high real estate prices. For those on a limited budget, renting a home is a good alternative. Either way, cover all the bases before signing a contract and moving to Massachusetts.

Reported Annual Crime In Massachusetts

StatisticMassachusettsNational
Murder14019,131
Rape2,19686,726
Robbery2,744152,431
Assault12,930277,038
Violent Crime15,094370,388
Burglary12,909468,957
Theft36,3301,063,593
Vehicle Theft7,177301,970
Property Crime40,7731,216,038

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