A state known for its New England charm, natural beauty and prime location, Connecticut represents one of the best real estate opportunities in the United States today. The state offers an enviable blend of affordability and amenities that is hard to come by. Conveniently positioned between New York City and Boston, Connecticut offers easy commuting range for both metropolitan regions as well as some of the nation's finest schools, hospitals, parks, towns and cities. The state offers a wide array of housing options, from single-family homes to apartment rentals to condominiums to everything else in between. With its strong real estate market, Connecticut is an excellent opportunity both for those looking to relocate here as well as those looking to sell or rent property in the state.
Connecticut boasts a diverse and robust rental housing inventory with options available in not only houses, but also townhouses, cabins, apartments, lofts, mobile homes and much more. Every corner of the state has something to offer prospective renters. The state's strong rental market offers great deals for renters as well as excellent prices for landlords and sellers, creating an advantageous market for both parties. Additionally, Connecticut remains an affordable place to live, especially when compared to nearby Boston and New York City. The state offers a moderate cost of living and competitive tax and insurance rates.
The state of Connecticut offers many amenities and attractions for its residents. Connecticut's public schools rank among the top in the nation and its private schools are top performers as well. The state is also home to world-class colleges like Yale University, the University of Connecticut and Wesleyan University. The state also boasts an excellent health care network and some of the country's top hospitals and medical facilities. Connecticut has a top-notch transportation infrastructure with many interstate highways, well-maintained roads and international airports like Bradley International Airport. In addition, the state is home to everything from pristine parks and forests to beaches to lakes and ambient woodlands. Many residents cite its four distinct seasons and colonial charm as its top qualities.
Connecticut is home to a wide array of great places to live. Whether you rent a house, apartment, loft, townhouse, condo or anything in between, you're sure to find a place to live that's just right for you. The state offers everything from cosmopolitan cities to comfortable suburbs to idyllic small towns.
The state's capital city, Hartford, has undergone a dramatic renaissance in recent years. The city offers a blend of historic houses and modern living spaces for prospective residents. Hartford is home to a wide array of shops and restaurants and boasts amenities such as the Wadsworth Athenaeum, Bushnell Park, the Bushnell Theater and the Mark Twain House and Museum. New Haven, another Connecticut city on the upswing, serves up a mix of charming neighborhoods, fascinating historical sites and some of the best Italian food in the country. The city's top attractions and sites of interest include Yale University, the New Haven Green, Wooster Square and the Peabody Museum of Natural History.
Fairfield County, located in the far southwestern part of the state, is ideal for New York City commuters. Known for its affluence and charm, Fairfield County boasts excellent schools, a low crime rate, great parks and highly livable towns and cities like Darien, Greenwich, Stamford, Fairfield, Westport and Norwalk. Eastern Connecticut is a mix of New England charm, picturesque small towns and great beaches. Its top towns and cities include New London, Mystic, Groton, Stonington, Waterford, Norwich, Ledyard and Montville. Other top cities and regions in Connecticut include the Litchfield Hills, Waterbury and the Connecticut River Valley.
With its affordability, strong housing market and excellent amenities, Connecticut is a great deal for both prospective house renters and property sellers.
Renting a Home vs. Buying a Home In Connecticut:
Renting a home and investing in real estate is not a piece of cake. Although there are a number of homes and properties that are available for rent and for sale in many states including Connecticut, there is some minor details that many people do not discuss. While buying property will ultimately present the same challenges as renting property, it is important to weigh each option before making a decision on whether to rent or buy.
Buying property is something that a lot of people are looking into because for one thing, it presents ownership and the freedom that goes with owning your own piece of property. However, the financial cost and qualifying for a mortgage can prove to be a challenge if you do not have the right credit score.
On average, the cost of the average mortgage in Connecticut is about $1,200 whereas the average rental on an apartment is $1,156. You will have to decide which cost is better. The mortgage rate is based on a 30 year mortgage.
Comparing the cost is just one step. The next is maintenance and location. Whether you rent or buy a property, the location will play a huge role in the price of the property. Renting a property may be more affordable than buying if you want to move to a suburb where homes may fetch upwards of a $1 million.
However, in some parts of Connecticut, you might be better off buying than renting. Consider what activities you will want to be involved in while living in Connecticut. Some people like the hustle and bustle of the city while others prefer a quiet life. Decide on what kind of life that you want
Whether you own or rent a house, someone will have to maintain it. The difference of who will maintain the property will depend on whether you are renting or buying. Owning your own property is a good thing but it also has requires maintenance expenses.
If you are still weighing the option of whether to rent or buy a home, you should also consider this factor for maintenance. One of the great things about owning your own property is that you will be entitled to certain benefits such as tax breaks. You can also remove the hard work out of being a landlord by hiring property management company to work on your behalf and handle all the work. They will do it for a fee of course, which should be negotiated before signing any documents.
There are different kinds of houses and units that are available in Connecticut and if you are looking to rent, you should be prepared to pay slightly more you would in some other states. Connecticut homes are usually quite big and have a lot of space so if you are looking for a single family residence you should be prepared for the extra space. There are a number of decent homes and family residences that are readily available throughout Connecticut although prices can vary depending on which part of Connecticut you are living in.