Rent to Own a Home in Beaumont, Alberta

Rent to Own a Home in Beaumont, Alberta

Beaumont is a small town in Alberta featuring an intimate, welcoming atmosphere and close-knit community. Located just a short drive from Edmonton, Beaumont provides easy access to the amenities of a major city while maintaining a quiet, family-friendly environment. 

Rent-to-own in Beaumont is perfect as it allows prospective homeowners to experience the town's community and atmosphere firsthand, while working towards homeownership. This approach is ideal for those who may not yet have a full down payment saved up or a perfect credit score required for a traditional mortgage.

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Real Estate Trends in Beaumont, Alberta

Unlike other major cities in Alberta, Beaumont has more affordable housing prices while also seeing a strong growth in demand and sales every year. 

In June 2024, the average price of a home in Beaumont averaged around $435,000. Detached homes averaged $645,164 while townhouse prices averaged $325,223.

Compare the housing market in Beaumont to that of Calgary and Edmonton. In June 2024, the average home price in Calgary was $608,415. The average Edmonton home price in June was $431,387. This makes Beaumont an appealing option for buyers seeking more affordable housing while still enjoying proximity to major urban cities, amenities, and employment opportunities.

Transportation

Transportation in Beaumont benefits from its close proximity to Edmonton, providing easy access to an extensive public transit system and major highways. Residents in Beaumont have access to various public transit options, including buses and light rail, connecting them to Edmonton’s urban core. 

Major highways, such as the Yellowhead Highway and the Queen Elizabeth II Highway, offer efficient routes for commuters and travelers, enhancing overall accessibility and convenience for those commuting or traveling in the region.

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Economy

Beaumont's economy is supported by a mix of different industries, including retail, healthcare, and education. As a growing town, its economy benefits from the close proximity to Edmonton, which enhances local employment opportunities in sectors such as construction and manufacturing.

The job market in Beaumont is thriving, with a steady demand for roles in local businesses, schools, and healthcare facilities. The town's growing development projects and expanding infrastructure are contributing to new job creation and economic stability.

Driven by residential expansion and the strengthening of local businesses, economic growth for Beaumont is promising. The town’s location near Edmonton supports continuous growth, attracting both new residents and businesses. As Beaumont continues to develop, it is expected to see an increase in employment opportunities, making it an attractive place for both current and future job seekers.

Education

Beaumont’s school system features several notable institutions that serve the community’s needs. Among these education institutions are École Bellevue School and Beaumont Composite High School, both of which offer a large range of academic and extracurricular programs that support student development. 

For higher education, students have access to prominent post-secondary institutions nearby such as the University of Alberta and MacEwan University, providing plenty of opportunities for advanced studies and professional development.

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How to Buy a Home in Beaumont?

When it comes to buying a home in Beaumont, there are two main options available: traditional mortgages and rent-to-own programs.

The common path to purchasing a home is through a traditional mortgage, where the buyer receives a loan from a financial institution such as a bank to purchase the property. However, purchasing a home with a mortgage requires a large down payment, usually 20% of the home's value, and a strong credit score to qualify for favourable interest rates.

An alternative is the rent-to-own model, which has been becoming more popular recently. With rent-to-own, also known as lease-to-own, you can move into and start living in your dream home with a much smaller down payment, while simultaneously saving up for the future purchase of the home. Rent-to-own is especially beneficial for individuals who may not have the current financial means or a high enough credit score required to secure a traditional mortgage.

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What is Rent to Own in Beaumont?

Rent to own is a special program that helps you buy a home if you're not ready for a traditional mortgage. Renting to own with Requity Homes allows you to choose your dream home, rent it for 2-3 years, and then purchase it at a predetermined price. Part of your monthly rent payments will go towards the final purchase price, so you can start saving and living in your dream home at the same time.

Rent to own in Beaumont is a perfect opportunity for all prospective homeowners to experience the community they want to live in, before fully committing to a purchase.

How Does Rent to Own Work in Beaumont?

1. Estimate your budget: Estimate how much you can afford through the rent to own program with Requity Homes’ Rent-to-Own Calculator. 
2. Get pre-qualified: Apply online to find out your eligibility and what you can afford to rent to own. It's free and won't affect your credit score.
3. Get approved: Get your application fully approved by submitting documents and get assigned a personalized budget.
4. Find your dream home: Choose the home you'd like Requity Homes to purchase for you. View rent-to-own listings in Canada.
5. Requity Homes purchases the house: We purchase the home for you and cover closing costs, including land transfer tax and legal fees.
6. Move in and start saving: Rent your dream home from Requity Homes, while a portion of your monthly rent payments go towards your future down payment.
7. Buy your home: When you're mortgage-ready (typically after 2-3 years), buy the home from Requity Homes at the predetermined price.

Learn more about how rent to own works in Canada.

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The Benefits of Rent to Own a Home in Beaumont

With a population of around 20,000, the town has experienced steady housing and economic growth. The community features include well-established schools, parks, and recreational facilities, perfect for anyone looking for a place to settle down.

With housing prices increasing, it is very difficult to save up for a down payment for a home while renting. Wouldn’t it be nice to find an affordable house you love and lock in the value until you are ready to take on a mortgage?

Let’s say that you have found the perfect home in Beaumont for $435,000.  

You have two options:

Rent for Two Years Then Purchase the Home

Using a base formula of 10% appreciation annually, your $435,000 Beaumont home would be valued at roughly $526,000 after two years.  

Rent to Own with Requity Homes

Requity Homes offers a low price increase per year, at only 5%, much lower than the average growth rate. This means that when you choose to rent to own in Beaumont, you can lock in the price of your new home and know exactly what it will be worth in two years. 

For example, with Requity Homes a growth rate of 5% means that you can buy your new home in two years for $479,000 instead of $526,000, a savings of $47,000. 

The rent to own program with Requity Homes is here to help get you and your family into your dream home in Beaumont as soon as possible, while saving you a lot of money in the process. 

Become a homeowner sooner than you could have ever imagined when you rent to own in Beaumont with Requity Homes.