Rent or Buy? Why Owning a Home in Rutland May be the Best Choice for You

September 13, 2017

The pros and cons of renting versus buying a home are well-documented — the important part left out of that conversation is where you’ll be doing the renting or buying. After all, you may be able to afford rent in a major city, but that won’t do any good if you also want the financial freedom to get out of town on the weekends. Plus, if the desire to own your own space hits, house-hunting in a city like Boston or New York can quickly become more of a pipe dream than a realistic goal. That’s why, when it comes to lifestyle freedom and affordability, owning a home in Rutland could be an ideal choice.

2 Huge Benefits to Owning a Home in Rutland

City Life vs. Country Life: Rutland County Lifestyle Strikes a Perfect Balance

When you’re considering owning a home, finding a place that supports your idea of health, comfort, and happiness is essential. Affordability aside, you can’t put a price tag on quality of life — and lifestyle freedom is what makes Rutland an ideal place to put down roots. Whether you crave the bustling urban center or prefer homesteading on quiet acreage outside of town, there’s space for every lifestyle in Rutland County.

Rutland City, the second-largest city in Vermont, offers an exciting mix of history and culture. The downtown streets are lined with restaurants to dig into and one-of-a-kind businesses. For a healthy dose of nightlife, you can’t go wrong with dozens of downtown bars to choose from or the lineup of shows and events at Paramount Theatre.

Unlike life in a major city, in Rutland you don’t have to travel far when you need peace and quiet. There’s rarely any traffic to speak of, and a 5-minute car ride gets you to activities like world-class mountain biking. Rutland County rests between two striking mountain ranges with plenty of space for outdoor enthusiasts to roam a collection of beautiful parks and lakes. For skiers and snowboarders, snow sport equipment is put to good use at the county’s two mountains — Killington and Pico.

Renting an Apartment vs. Owning a Home: Your Dollar Goes Further Here

No matter where you move, you’ll be faced with the age-old question eventually: should you rent or buy? If the moving boxes are headed to Vermont, then owning a home in Rutland gives you the most bang for your buck compared to similar areas. For example, renting an apartment in Burlington (Vermont’s largest city) can start between $900 and $1,200 a month — and that’s just for a one-bedroom setup. Owning a home doesn’t paint a brighter picture, either, as the median price for homes sold in 2017 was $297,000.

Knowing this, it’s no surprise that a housing survey in 2015 showed unhappiness among young professionals in the Burlington area. Although most in the area are renting, a majority of young professionals have a strong desire (yet the inability) to own a home. The largest concerns pinpoint a need for more space and affordable options.

Just two hours south, Rutland County presents a solution to both — considering the median price of a single-family home in July 2017 was just $155,000.

Why sacrifice money and lifestyle freedom for an expensive city apartment, when investing in a home in Rutland comes with the benefits of more space, financial flexibility, and lifestyle freedom?

Whether you’re thinking of moving to the area or are on the verge of owning a home, find resources and answers to all things Rutland at RealRutland.com.