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Rent to Own Homes in Richmond

Rent to Own Homes in Richmond

Located two hours from the North Atlantic coast in eastern Virginia, Richmond is home to 230,436 people. Downtown the James River crosses through the center where Virginia Commonwealth University sits. Nine miles to the east is the Richmond International Airport.

As the capital of Virginia, Richmond boasts an elegant history which is displayed at the Virginia State Capital Building, the American Civil War Museum, the Virginia Holocaust Museum, and the John Marshall House, among other locations. Additionally, Richmond has a vivid arts and science community. The Virginia Museum of Fine Arts calls Richmond home. The Childen’s Museum of Richmond has beautiful displays of work from the city’s smallest residents.

Bell Isle is a state-owned island situated on James River that has a playground the kids in town love. The Monroe Park and Forest Hill Park are two additional recreational spots for kids. Many entertainment venues host various types of performances. Catch a show live at the Richmond Coliseum, Richmond CenterStage, or Ford’s Theater.

Buying a Home in Richmond

With a great collection of neighborhoods, most anyone has the chance to find a place to call home that meets their every need. Think about your lifestyle and the type of environment most comfortable to you to narrow the massive selection of neighborhood choices.

Some Richmond neighborhoods encourage walking as a new hobby while others are home to educational institutions or entertainment venues and shopping centers.

Popular Neighborhoods in Richmond

The Fan is one of Richmond’s most popular area for families and single individuals. It is home to a wide range of shopping centers, restaurants, and trails great for walking and biking. Quality schools in The Fan attract families to the area. The median housing price in The Fan is about $400,000, so the area is reserved for those with larger budgets.

Forest Hill homes are moderately priced at about $200,000. The neighborhood offers a family-friendly atmosphere with awesome community events and friendly neighbors. Consider the Woodland Heights neighborhood for similar qualities as Forest Hill.

Buying Vs. Rent to Own Homes

Buying a home in Richmond offers choices these days. While buyers could use traditional banks and mortgages at one time, rent to own now gives alternatives to this process. Once you find a home, rent to own gives you the option to move in now as a renter and buy the home later when you are ready.

Most rent to own contracts expire in about three years, giving buyers time to decide if homeownership is right for them, time to rebuild their credit, and time to save money for the down payment. This also provides time to secure a home loan.

Cost of Living in Richmond

Richmond’s cost of living is affordable, a surprising fact to many people who expect the big city to have accompanying prices. The cost of living in Richmond is 5% less than the national average. However, housing is about 15% higher than the national average.

Summary

Many people move to Richmond for the affordable cost of living and stay because they fall in love with the natural beauty and warmness the city offers. Lots of entertainment options for all walks of life make Richmond a versatile community with amenities to offer all. Consider a rent to own situation to make the American dream of homeownership a reality. This alternative eases the purchase process for buyers just like yourself.

About Our Listings

Everything is easier with a professional on the job, but our listings simplify the rent to own buying process without the need for a realtor. Our free listings offer updated information about homes in Richmond currently in foreclosure or for sale via a rent to own option. Foreclosed homes offer low-cost options with a lease option.

Single-family houses, townhomes, apartments, and condos in all price ranges are included in our free listings. Many landlords work with buyers without a credit check necessary because they know they’ll sell the home soon. No matter your location in the United States, Richmond is a great place to call home.

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City of Richmond, VA Demographic Information

  • Population:502,606
  • White Population:283,259
  • Black Population:189,677
  • Hispanic Population:14,605
  • Asian Population:12,802
  • Hawaiian Population:275
  • Indian Population:1,558
  • Other Population:7,488
  • Male Population:236,115
  • Female Population:266,491
  • Avg House Value:$105,224
  • Avg Household Income:$42,635

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