Do You Know the Cost of NOT Owning Your Home?

Do You Know the Cost of NOT Owning Your Home? | Simplifying The Market

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 paymentalong 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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5818 N 22nd Drive Phoenix, AZ 85015

$455,000
4 Beds
2 Baths
2,050 SqFt
Status Active
MLS # 6685236
Property Type Single Family Residence
Price Type --
Huge lot in the city with a pool! 4 beds 2 bath remodeled home. Fresh paint, new kitchen and counter tops, clean working pool. Open large floor plan with new flooring and carpet. Large remodeled restrooms and master is almost the size of two bedrooms.

355 S Latigo Way Cottonwood, AZ 86326

$455,000
3 Beds
2 Baths
1,695 SqFt
Status Active
MLS # 6689165
Property Type Single Family Residence
Price Type --
Centrally located, this gem combines natural beauty with modern amenities, offering an idyllic lifestyle for anyone looking to buy. Don't miss your chance to claim this home, where luxury meets efficiency, and the views are simply unmatched from the front of the home looking towards Mingus Mountains and rear of home towards the gorgeous Red Rocks of Sedona, giving spectacular reverse sunsets. Experience energy efficiency and cost savings with owned solar panels, and enjoy the comfort of newer Lennox furnace and A/C units at your fingertips. Add to that the convenience of an indoor laundry room, with cabinets and a newer washer and dryer. Revel in the high ceilings which enhance the home's open and airy ambiance, while the professionally installed vinyl flooring in the entryway, family room, kitchen, and bathrooms exudes modern sophistication. The master suite features a spacious walk-in closet with built-in cedar planking shelving for shoes, ensuring organized and stylish storage. The rear guest bedroom comes with brand-new carpeting, adding a touch of luxury and comfort for your guests or family members. Experience culinary perfection with matching Samsung appliances in a kitchen that's a chef's delight, and enjoy the health benefits of a water softener, whole-house chlorine removal system, and reverse osmosis for pristine water quality. Indulge in the convenience of instant hot water to sinks, saving time in your daily routine. The home has been thoughtfully updated with all walls freshly repainted and decorative base trim in most rooms. New light fixtures in the dining and kitchen areas provide the perfect blend of functionality and style. As a bonus, the garage door has been meticulously maintained, receiving periodic visits from a local company, ensuring that the motor and springs, replaced within the last year, are in top condition. Additional practicality comes courtesy of the new mop sink installed this year, complete with special fittings for a garden hose - ideal for refilling the backyard oasis that is your personal HotSprings salt system spa. Seating 4 comfortably with two lounge chairs, relax and gaze upon the stars, an awesome experience that awaits you each night. This property is designed with outdoor living in mind, featuring a large rear covered back porch that spans an impressive 34 feet in length, enhanced by decorative pavers. The porch is adorned with 3 decorative exterior ceiling fans, creating a cool retreat for those warm summer days. With a gas connection ready for your barbecue, the outdoor space is ideal for hosting friends or simply enjoying a quiet evening. Privacy and tranquility are provided by a jasmine plant that fills the air with a delightful seasonal aroma. A planter box with faux ferns adds a touch of greenery and charm. This home invites you to imagine your life surrounded by these thoughtful improvements and indulgent features. Welcome home to comfort, style, and unforgettable moments.

126 S Laura Lane Casa Grande, AZ 85194

$455,000
3 Beds
2 Baths
2,063 SqFt
Status Active
MLS # 6686900
Property Type Single Family Residence
Price Type --
Experience Arizona living in this fully furnished haven boasting 3 bedrooms, 2 bathrooms. Enhanced w/upgrades, including custom interior paint, tile flooring, & vaulted ceilings, every corner exudes comfort and style. Entertain effortlessly in the expansive kitchen, featuring raw tumbled marble countertops, cabinetry w/hardware, & an RO system. Retreat to the spacious primary owner's suite w/a luxurious en suite bathroom, complete w/a walk-in shower and a sizable walk-in closet. Garage is extended. Outside, the heated pool overlooks the golf course, providing a picturesque backdrop for relaxation or gatherings. The full-length patio, adorned with pavers, ceiling fans, and remote lighting, invites you to bask in your own slice of paradise. This home will not last long. Call Now!

16541 W Sierra Street Surprise, AZ 85388

$455,000
4 Beds
3 Baths
2,284 SqFt
Status Active
MLS # 6686167
Property Type Single Family Residence
Price Type --
A nice house in great community Sycamore farms community pool open floor plan for guest entertainment where all guest can be together on area really well maintain condition Also it is a good location on the west valley area. everything there hospital near by

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