Rent to Own a Home in Leduc, Alberta

Rent to Own Homes in Leduc, Alberta

Leduc, a welcoming city with a population of around 36,000, is a small town located south of Edmonton. Leduc’s tight-knit community provides local features including parks, schools, and recreational facilities, alongside easy access to the amenities of a major city. With housing growth on the rise, Leduc is ideal for both families and professionals. 

Rent-to-own in Leduc is attractive as it allows prospective homeowners to experience the community for themselves, and provides a financially flexible way into homeownership.

‍

Real Estate Trends in Leduc, Alberta

Leduc's relatively lower home prices compared to other major cities in Alberta, combined with its growing housing market, make it an attractive location for potential homeowners to settle down. 

In June 2024, the average home price in Leduc was around $355,000. Detached homes averaged $474,022 while townhouse prices averaged $219,945.

For example, let’s compare the housing market in Beaumont to the housing markets in 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 a much cheaper option for families seeking housing they can afford, while still enjoying access to major urban cities, amenities, and employment opportunities.

Transportation

Leduc benefits from excellent transportation, making it an accessible and convenient location for its residents. Leduc is a short drive from Edmonton, providing easy access to a wide range of urban amenities, services, and employment opportunities. Additionally, Leduc is home to the Edmonton International Airport, providing residents with quick and direct access to domestic and international travel.

Public transit in Leduc includes local bus services, and offers routes to Edmonton, providing reliable commuting options for those working or studying in Alberta’s capital. Major highways such as the Queen Elizabeth II Highway run directly through Leduc, ensuring efficient travel to Edmonton and around Alberta.

Economy

Leduc has a diverse economy supported by several industries, highly influenced by its proximity to Edmonton. This includes industries like oil and gas, retail and service, and the logistics and transportation industries. There are also emerging fields in technology and healthcare, with the job market constantly growing. 

The local economy is supported by a steady growth of businesses and infrastructure projects, contributing to a stable job environment. Economic growth for Leduc looks promising, driven by ongoing infrastructure and residential development investments, positioning it well for financial expansion and future job opportunities.

Education

Leduc offers a complete education system with options for students of all ages. The city's school system includes many public and catholic schools. Notable institutions in Leduc include Leduc Composite High School and Father Leduc Catholic School.

For post-secondary education, there are nearby options in Edmonton, including the University of Alberta, one of Canada’s top research institutions. U of A offers a wide range of undergraduate and graduate programs. MacEwan University, another nearby university, also provides diverse applied and professional programs. Leduc's proximity to these institutions offers residents convenient and easy access to higher education opportunities.

‍

How to Buy a Home in Leduc?

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

The most common path to purchasing a home is through a mortgage, where a potential homeowner receives a loan from a bank to purchase the home. However, a mortgage requires a large down payment, usually 20% or more of the home's value, and a strong credit score to qualify for affordable interest rates.

An alternative to a mortgage is rent-to-own. With rent-to-own, also known as lease-to-own, a potential homeowner can move into and start living in their chosen home with a much smaller down payment, while simultaneously saving up for the future purchase of the home. Rent-to-own is beneficial for people who may not have the financial means or a strong credit score required to secure a traditional mortgage.

‍

What is Rent to Own in Leduc?

Rent to own is a program that helps you purchase a home if you're not able to get a traditional mortgage. Rent-to-own with Requity Homes allows you to start renting your dream home for 2-3 years, and then purchase it at a predetermined price. Part of your monthly rent payments 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 Leduc is a perfect opportunity for families to experience the community they want to live in, before fully committing to a long-term investment.

‍

How Does Rent to Own Work in Leduc?

1. Estimate your budget: Calculate how much you can afford with the rent to own program using Requity Homes’ Rent-to-Own Calculator. 
2. Get pre-qualified: Apply online to see if you’re eligible and what you can afford to rent to own. It's free and won't affect your credit score.
3. Get approved: Submit documents to get your application approved 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 homes in Canada.
5. Requity Homes purchases the house: Equity Homes purchases the home for you and covers closing costs, including land transfer tax and legal fees.
6. Move in and start saving: Rent your dream home from Requity Homes, while part of your monthly rent payments are saved towards your future down payment.
7. Buy your home: When you're ready for a mortgage (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.

‍

The Benefits of Rent to Own a Home in Leduc

With a population of around 36,000, the town has experienced steady growth all-around. The community is welcoming and quiet, perfect for families 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 Leduc for $355,000.  

You have two options:

Rent for Two Years Then Purchase the Home

Using a base formula of 10% appreciation annually, your $355,000 Leduc home would be valued at roughly $430,000 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 Leduc, 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 $391,000 instead of $430,000, a savings of $39,000. 

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

Find your dream home and become a homeowner sooner than you could have ever imagined when you rent to own in Leduc with Requity Homes. 

‍