Top Reasons Why Delaware is a perfect place to buy a Rent to Own
No sales tax! That's right, the state doesn't levy any sales tax. Just think of all the tax-free shopping you can do here. Additionally, your social security and income benefits are tax-free as well.
Little or no real-estate tax burden! The state of Delaware does not impose any personal property taxes. Even when it is levied in certain cases, Delaware has the third-lowest real estate tax burden in the country. This makes it a great place to rent to own homes or purchase property!
Excellent family vacation destinations! Whenever you feel the urge to take a small vacation with your family, you won't have to fly halfway across the country to an expensive tourist destination. Instead, head over to Rehoboth Beach or attend the Sea Witch Beach Festival in October.
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High income, affordable houses! As of 2013, Delaware boasted of the highest per capita income with a population of approximately 910,000. At the same time, the median home sales price stands somewhere around $188,000, which is very affordable in a state with a healthy per capita income.
Great retirement destination! Delaware has often been called a paradise for retired people and quite rightly so. Besides the obvious tax benefits, the state also provides generous pensions to people over the age of 60. While the amount of this pension depends on the state you are from and the state you have worked in, it will still be a decent amount.
Lower cost of living! Not only are property prices on the lower side, the cost of living isn't very high either. Even as it is higher than the national average, it is still markedly lower than other Northeastern states. Also, the absence of sales tax also makes a significant impact on the cost of living here.
Healthy dose of history and culture! The cities of Dover, Wilmington, Newark, and Middletown have all played crucial roles during the American Revolution or the Civil War. This historic appeal becomes evident in the general architecture of buildings that have been around for centuries. These cities have also had their share of limelight in popular culture--Bob Marley once worked at the Chrysler Park in Newark, while Dead Poets Society was shot in St. Andrew's School in Middletown.
Tax credit for first-time homebuyers! Becoming a proud American homeowner has never been easier. According to a recent policy, first-time homebuyers can avail tax credit of up to $2,000 a year depending on certain factors. If you're not ready to buy just yet, think about a rent to own property.
Outdoor sports! When you are hoping to enjoy a weekend getaway, experience the thrill of professional car racing at the Dover International Speedway. Besides racing, Dover Downs also boasts a casino, many shopping malls, restaurants, spas, and lounges. With 50 golf courses spread over the state, Delaware also has plenty for golf enthusiasts.
Homeowner's paradise! Owing to the affordable property prices, Delaware is quite the homeowner's paradise, and close to 75% of the homes here are owned. After all, why rent a house when you can have your very own? You can also find many rental houses; and these schemes are very flexible and reasonably priced.
State of the future! Delaware is one state that has responded positively to the call of the future. Tax exemptions have attracted corporate organizations to invest in the area generating jobs and increasing median family income levels. The economy of the state is looking up and it has been witnessing a steady increase in population, a clear sign of the future potential of Delaware.
Acclaimed health care facilities! One of the many reasons why Delaware is often touted as a retirement abode is the quality of health care services. The Beebe Medical Center in Lewes and the Christiana Health Care System in Wilmington are premier health care institutes, which have gained national recognition for their clinical excellence.
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