The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!
Other interesting findings in the report include:
- Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
- With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
- Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.
Bottom Line
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home. Give me a call – J.P. Cook – 602-320-4253.
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17047 W Butler Avenue Waddell, AZ 85355
$460,243
4
Beds
2
Baths
1,897
SqFt
Status
Active
MLS #
6660133
Property Type
Single Family Residence
Price Type
--
Let the Sabino floor plan welcome you home with ample room for the whole family. With four bedrooms, two bathrooms with a expansive primary bedroom, you're primed to live in domestic bliss. Kitchen features Benton White cabinets with 42″ uppers, Frost quartz counter-tops and Marazzi Artezen backsplash! Tile throughout the home in a Vicinity Natural color! Our High Performance Homes come standard with home automation technology, a Remo Halo Air Purification system designed with you in mind to keep you more comfortable in your new home. This home is conveniently located close to the 303 and northern parkway!
19610 W Cambridge Avenue Buckeye, AZ 85396
$460,193
4
Beds
3
Baths
2,070
SqFt
Status
Active
MLS #
6676082
Property Type
Single Family Residence
Price Type
--
Explore this must-see Slate home, ready for quick move-in on a homesite boasting front yard landscaping and driveway pavers. Included features: an inviting covered entry; an impressive kitchen layout offering 42'' cabinets, stainless-steel appliances, quartz countertops, a center island and a roomy pantry; an open dining area; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a covered patio and a 2-car garage. This home also offers stone tile flooring, additional windows and ceiling fan prewiring in select rooms.
2629 S Equestrian Drive Gilbert, AZ 85295
$460,005
3
Beds
2.5
Baths
1,812
SqFt
Status
Active
MLS #
6617577
Property Type
Townhouse
Price Type
--
Remarkable new 2-story condo offering 3 bedrooms, 2.5 bathrooms, and an attached garage. This Spanish-style property is move-in ready! Located in the Towns of Annecy, home owners enjoy gated access, a community pool and spa, a playground, and walking and biking paths, perfect for taking in the lake views. The condo features designers selections and upgrades throughout including Nutmeg Shaker Winstead stained brown cabinets, a Delta Trinsic Faucet Collection, ''Frost'' Quartz countertops in the kitchen, and Matte Black cabinet and door hardware. The kitchen boasts a stainless GE dishwasher, microwave, and slide in electric range. 6'' x 36'' Floor Tile in the living, kitchen, and dining area in addition to the carpeted bedrooms. Ample storage throughout. Soft water loop pre-plumb only.
Avenida Ostiones Sec 6 Lot 20 -- Outside Of Usa 00000
$460,000
4
Beds
3.5
Baths
2,551
SqFt
Status
Active
MLS #
6621817
Property Type
Single Family Residence
Price Type
--
Nestled in the serene coastal community of Las Conchas, this beautiful under-construction custom home with scheduled completion for Summer 2024 offers a rare opportunity to live the ultimate beachside lifestyle. The home's architecture is a harmonious blend of modern design and coastal charm. Clean lines, large windows, and high ceilings create a sense of space and light throughout. The home offers two primary suites located on the second and first floors. On the first floor, a two car gararge, a primary suite with a walk-in shower and a generously sized walk-in closet, two secondary bedrooms, a laundry room, a full bathroom, and a living room. The upstairs features an open space living-dining room, a kitchen fully equipped with cabinetry, and a spacious island perfect for casual dining or entertaining guests. Also, a half bathroom and a second primary suite with access to the main terrace overlooking the ocean, a spa-like bathroom with a walk-in shower, and a generously sized walk-in closet. Lastly, a relaxing rooftop terrace with glass railing to enjoy the beautiful sea of Cortez. Take advantage of our pre-construction pricing now!