Homewood Home In Alabama Least Expensive States To Own A Home — Alabama homes are some of the least expensive to own. (The Bama Buzz)

Whether you’re looking to be an homeowner in Alabama or have been one for years, I’ve got good news for you. Alabama just made the top 10 in Business Insider’s “The 10 least expensive states to own a home.” Keep reading for why.

Why Alabama is #10 on the list of least expensive states to own a home

Alabama Neighborhood — Alabama’s neighborhoods are both beautiful and inexpensive. (The Bama Buzz)

To find the least expensive states to own a home, Business Insider turned to fintech company Self. To provide a baseline for comparison, Self found that $623,290 is the average amount that an homeowner in the US pays over the period of owning the home—13.2 years on average.

That’s a big investment of both time and money. However, the good news for Alabamians is that the cost of homeownership in our state is significantly lower than the national average. Here are the stats, according to Self as quoted in Business Insider.

Average cost of owning one home over 13.2 years: $430,415
Average purchasing and closing costs: $30,851
Average cost of mortgage repayments over 13.2 years: $216,374
Average cost of maintenance for one home over 13.2 years:$115,666
Average cost of utilities for one home over 13.2 years: $65,413

That $430,415 stat is almost $200K less than the national average!

Alabama neighborhood guides

Twickenham Huntsville — Huntsville has some beautiful historic neighborhoods. (The Bama Buzz)

If you’re on a homeownership journey yourself, we’ve got you covered. Here are some neighborhood guides and tours in some of the most popular areas in the state to help you get started.