Do You Know the Cost of NOT Owning Your Home?

Owning a home has great financial benefits, yet many continue renting! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“With Rents continuing to climb and interest rates staying low, many renters find themselves gazing over the homeownership fence and wondering if the grass really is greener. Leaving aside, for the moment, the difficulties of saving for a down payment, let’s focus on the monthly expenses of owning a home: it turns out that renters currently paying the median rent in many markets could afford to buy a higher-quality property than the typical (read: median-valued) home without increasing their monthly expenses.”

What proof exists that owning is financially better than renting?

1. The latest Rent Vs. Buy Report from Trulia pointed out the top 5 financial benefits of homeownership:

• Mortgage payments can be fixed while rents go up.
• Equity in your home can be a financial resource later.
• You can build wealth without paying capital gain.
• A mortgage can act as a forced savings account
• Overall, homeowners can enjoy greater wealth growth than renters.

2. Studies have shown that a homeowner’s net worth is 45x greater than that of a renter.

3. Just a few months ago, we explained that a family buying an average priced home at the beginning of 2017 could build more than $42,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment –along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.  Give me a call for a no-cost, no obligation consultation about becoming a homeowner – J.P. Cook – 602-320-4253.

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6546 W Crown King Road Phoenix, AZ 85043

$453,998

4 Beds

2 Baths

2,071 SqFt

Status Active

MLS # 6667142

Property Type Single Family Residence

Price Type --

Corner Lot. 3 Bedrooms Plus a Den/Office with closet could be 4th bedroom. No SPDS. BBuyer and agents are solely responsible for confirming any & all material findings important to Buyer.

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1237 W Sparrow Drive Queen Creek, AZ 85140

$453,996

4 Beds

2.5 Baths

1,846 SqFt

Status Active

MLS # 6684618

Property Type Single Family Residence

Price Type --

North Creek Community will have you feel like you're on vacation all year long. Community amenities include a resort style pool, 2 pickle ball courts, full court basketball, bocce ball, corn hole, fire pits, grilling area, tot lot, walking trails and so much more!! This 3 bedroom 2.5 bath home is great to entertain family and friends. Upgraded features include upgraded Silver Falls granite kitchen counter tops, gas range, upgraded flooring, our close and chill package, 2'' faux wood blinds, washer, dryer, refrigerator, and side yard landscaping all included. Hurry this home is beautiful.

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11041 W Hadley Street Avondale, AZ 85323

$453,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6657717

Property Type Single Family Residence

Price Type --

Explore this thoughtfully designed Slate floorplan, ready for quick move-in on a homesite boasting front yard landscaping and driveway/walkway pavers. Included features: an inviting covered entry; an eat in dining room, a well-appointed kitchen offering 42'' white shaker cabinets, quartz countertops, stainless-steel appliances, a center island with pendant light pre-wire, and a spacious walk-in pantry; an expansive great room; a lavish primary suite showcasing a generous walk-in closet and a private bath separate tub and shower, and dual sinks with cultured marble countertops; a convenient laundry; a guest bedroom featuring en-suite bathroom, a covered patio, and a 2-car garage with 8' door. Find other desirable finishes, like 7x22 tile in the main living areas (carpet in bedrooms only) two tone paint, a convenient soft water loop in the garage, tankless hot water heater, and a gas stub at the patio. This home also offers additional windows in the great room and owner's bedroom, as well as ceiling fan prewire in all bedrooms, great room, and patio.

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8944 E Red Mountain Lane Gold Canyon, AZ 85118

$453,995

2 Beds

2 Baths

1,982 SqFt

Status Active

MLS # 6669170

Property Type Single Family Residence

Price Type --

This spectacular home offers 1982 sqft of spacious living space. The main bedroom features a large sitting area or office space, walk in closet, bath w/ double sinks, & walk-in shower. Oversized 2nd bedroom This model was designed as a 4 bedroom home and could easily be converted if that's what your looking for. Screened in patio (20x13). Lots of upgrades and update to include no carpet through-out. Water heater replaced 2023, Roof Replaced 2021, Exterior painted 2019, Soft water and R/O system in 2019, Sun screens 2014, HVAC was replaced in 2010. Extended garage 24ft long ,stainless steel appliances with Bosch washer & induction/ convection oven, Top/down/bottom window coverings & so much more. HOA only $42.60 monthly includes Trash

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