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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9173 W Charleston Avenue Peoria, AZ 85382

$455,000

4 Beds

2 Baths

1,681 SqFt

Status Active

MLS # 6693791

Property Type Single Family Residence

Price Type --

Best part... NO HOA!!!! Come and check out this conveniently located move in ready home. This one will check all the boxes! 4 bedrooms, 2 baths, new carpet and interior paint, RV gate, large backyard with room for a pool and more! Drive just a mile and you will be on the 101 heading North or South to get anywhere in the Valley. Just down Bell road you will be at P83 with copious shopping or eating options.

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6748 W Charter Oak Road Peoria, AZ 85381

New

$455,000

3 Beds

2 Baths

1,578 SqFt

Status Active

MLS # 6694889

Property Type Single Family Residence

Price Type --

Located in a quiet neighborhood with a kids playground and dog park. Beautiful single story home located in the highly desirable Peoria Village . This home is an open concept layout, perfect for all needs! The master bedroom features a walk in closet and large and roomy bathroom with dual sinks and a private toilet room, The backyard features a hassle free cement flooring that is easy to clean, your own mini-retreat, mature trees. close to P83 entertainment district, Arrowhead Mall, Peoria sports complex.

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2326 W Gaby Road Phoenix, AZ 85041

$455,000

4 Beds

3 Baths

2,348 SqFt

Status Active

MLS # 6606891

Property Type Single Family Residence

Price Type --

Beautiful 4bd/2.5 bath two-story home on a corner lot. Don't miss the opportunity to own this amazing home with lots of upgrades and so much to offer. The entry way opens to a 9ft. ceilings semi formal living/dining area that has great natural light. As you move into the kitchen, you can see a spacious gourmet island with a large pantry space. The kitchen opens to the spacious family room with stairway to a beautiful office/ loft. Upstairs is the oversized master suite with a huge walk-in closet, separate shower/tub and double sinks! Home is near schools, parks, shopping, and minutes away from easy freeway access & Sky Harbor. A perfect home for entertaining.

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195 N Mariposa Drive Wickenburg, AZ 85390

$455,000

3 Beds

2 Baths

1,180 SqFt

Status Active

MLS # 6609665

Property Type Single Family Residence

Price Type --

This listing is located on two lots and includes a main house PLUS a guest house. Live in the main house and use the Casita as a mother-in-law suite, or rent it out. The main house has 3 bdrms and 1 and 3/4 bathrooms. Master bath has double sinks with a tub/shower, Guest bath has a tub/shower, It has a covered patio and a large fenced yard in the back. The Casita has an open great room area with an all electric kitchen, bedroom with a walk-in closet and a tub/shower in the bathroom. 2 a/c wall units, The Casita has it's own large fenced yard with fruit trees. The property also includes a car carport, a workshop and a large fenced yard. Full laundry outside with lots of storage and a separate storage shed, great location with incredible views

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