With its strategic position in the center of one of the fastest-growing regions in the United States. Northwestern Arkansas is home to three of the largest retail companies in the country, and the demand for skilled and unskilled laborers has drawn workers from all over the country.
For many of those who come seeking work, an expensive home in a high income neighborhood may not be an option. Hovering at a below-average $250,000, the median home price in Bentonville AR is still quite pricey for many lower income families. Fortunately, if this is the case for you, there are other options. Let’s dig in!
So you want to move to Bentonville. After all, Bentonville it’s a great place to live. Low cost of living, lots of great jobs, and a sunny, temperate climate. However, you may initially be scared off by the seemingly high price of an average home in Bentonville. But don’t fret! Luckily, there are plenty of homes for sale that are listed under $100,000, all you need to do is find a real estate agent in Bentonville with MLS access to help you find the best property for you.
While this still isn’t cheap, it is more accessible than a home priced at $250,000. There are plenty of financing options available, and federal programs can provide even further assistance if needed. With a good mortgage, a good job, and some solid financial planning, you can easily own a home in 10-15 years; if you’re exceptionally careful, you might be able to be out of debt before then!
Still, one hundred thousand dollars($100,000) is still a lot of money. What if you don’t want to go into debt? Well lucky for you, there’s another option: renting! As a renter, you have a lot of benefits that you miss out on if you buy a house.
As a renter, you don’t have the liability of a mortgage. If the market crashes, you aren’t left with a severely devalued property that you still have to pay for. You aren’t responsible for the upkeep, and you don’t have to worry about property taxes. Of course, renting has its fair share of cons as well. As a renter, you will have to pay high monthly rent costs. While still cheaper than buying a home upfront, this can put a serious drain on your bank account.
Whatever option you decide is best for you, rest assured that you’re making a good choice by moving to Bentonville. Things are trending up for this town, and if you move now you can ride this thing all the way to the top!