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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15933 W Hackamore Drive Surprise, AZ 85387
$469,995
3
Beds
2
Baths
1,448
SqFt
Status
Active
MLS #
6667705
Property Type
Single Family Residence
Price Type
--
Come to Mason Ranch II in Surprise and discover our GRAND OPENING INCENTIVES!! Come and see this beautiful 3501 floor plan. This home features 3 Bedrooms, 2 Baths, 3-Car Garage. Nestled on an oversized end lot with an extended driveway. This home is enriched with numerous upgrades and ALL appliances included!!! You will find white shaker cabinets, granite kitchen countertops, large kitchen island, custom full kitchen backsplash, large single bowl sink, stainless steel kitchen appliances, gas range, carpet and tile flooring, tankless hot water heater, 9' ceilings, 8' interior doors, pre-plumb for soft water loop, a comprehensive smart home package, an enhanced electrical package with cat 6 wiring, and more! Est. completion June 2024.
19565 W Cambridge Avenue Buckeye, AZ 85396
$469,995
4
Beds
3
Baths
2,070
SqFt
Status
Active
MLS #
6697392
Property Type
Single Family Residence
Price Type
--
Explore this thoughtfully designed 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.
19631 W Cambridge Avenue Buckeye, AZ 85396
$469,995
4
Beds
3
Baths
2,070
SqFt
Status
Active
MLS #
6657110
Property Type
Single Family Residence
Price Type
--
Explore this beautiful Slate home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an open dining area; an impressive kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a roomy pantry and a center island; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private upgraded master bath with Quartz countertops; a central laundry; a convenient storage area; a covered patio and a 2-car garage. This home also offers stone tile flooring, ceiling fan prewiring and additional windows in select rooms.
2905 W Shanley Avenue Apache Junction, AZ 85120
$469,990
4
Beds
2
Baths
1,863
SqFt
Status
Active
MLS #
6693714
Property Type
Single Family Residence
Price Type
--
Welcome to Radiance at Superstition Vistas, a brand new master planned community located on the border where Mesa meets Apache Junction. This is a rare opportunity for optimal living - to have the convenience of City living while enjoying the breathtaking Superstition mountains! Small town feel meets modern amenities at its best! The JUSTIN-1863 sq ft, 4 bed/2 bath adorable, energy efficient single level home in which you will find tile in all common areas, 9 foot ceilings and on trend extra bright white walls. The kitchen has gorgeous maple cabinets, granite countertops & large island. Located close to the 24, 60 & 202.
16076 W El Cortez Place Surprise, AZ 85387
$469,990
4
Beds
2
Baths
2,139
SqFt
Status
Active
MLS #
6669090
Property Type
Single Family Residence
Price Type
--
Brand new, energy-efficient home ready NOW! This single-story features a split floorplan with the primary suite tucked away in the back of the home. White cabinets with white granite countertops, and greyish brown carpet in our Distinct package. Five brand new designer-decorated models now open at Paloma Creek. Future residents will enjoy floorplans featuring covered back patios, private primary suites and ample storage. There's fun for the whole family at the community clubhouse, pool, outdoor kitchen, and future fitness center. Each energy-efficient home comes standard with features that allow your whole family to live better and breathe easier too.* Visit Paloma Creek today. Each of our homes is built with innovative, energy-efficient features.
32783 N Slate Creek Drive San Tan Valley, AZ 85143
$469,990
4
Beds
3
Baths
2,808
SqFt
Status
Active
MLS #
6654901
Property Type
Single Family Residence
Price Type
--
This newly updated home showcases stunning new updates, tons of versatile space, a redesigned kitchen, and all new backyard landscaping. The goodies don't stop there. It also boasts a 3-car stacked pull through garage to the backyard and NO REAR NEIGHBORS. As you make your way into the home you are greeted to all new vinyl flooring, 5-inch upgraded baseboards, and freshly painted walls for a sleek finish. The downstairs library provides an enclosed sanctuary that can be used as a fourth bedroom for guests, and the upstairs loft provides additional versatile space. The updated kitchen opens up to the family room and provides a large center island with drop-in sink, quartz countertops, updated cabinets with hardware, and stainless-steel appliances. Upstairs, you will find the comfort of all NEW CARPETING and three additional bedrooms, all equipped with walk-in closets. The main bedroom offers a large retreat with a reading nook as well as an en-suite that boasts a JACUZZI tub and separate shower. One of the most appealing attributes about this home is its lot location - no homes behind you, ensuring privacy and an unobstructed view of the Superstition Mountains. Don't miss the chance to call this home yours.
2416 E Wagon Wheel Lane San Tan Valley, AZ 85140
$469,900
4
Beds
3
Baths
2,219
SqFt
Status
Active
MLS #
6697607
Property Type
Single Family Residence
Price Type
--
New Construction!! Nestled perfectly in the sought after city of San Tan Valley and conveniently located off of Combs Rd and Schnepf Rd.. Adorable 4 bedroom 3 bathroom single story home with an amazing guest retreat and farmhouse exterior. The 2 car garage has extra storage for convenience. This home is uniquely equipped with a spacious owner's suite, stainless steel appliances, quartz kitchen countertops and white shaker style cabinets in the kitchen. 4 panel slider off the great room. This home has been upgraded with 8 foot interior doors, 6x36 inch ceramic tiles, backsplash, modern black cabinet hardware, a single basin sink and upgraded faucet. The bathrooms have also been upgraded with matching faucets and hardware throughout!
9864 E Fortuna Avenue Gold Canyon, AZ 85118
$469,900
3
Beds
2
Baths
1,606
SqFt
Status
Active
MLS #
6685210
Property Type
Single Family Residence
Price Type
--
New construction with Samsung appliances, 4 ton A/C unit, 40 gallon electric water heater, septic tank, asphalt shingled roof, 2 car garage, low maintenance landscaping in front yard, surrounding block wall, and a glorious curved iron front door. Live in luxury in this beauty located in the low desert near the Gold Canyon Golf resort.
7167 W Merriweather Way Florence, AZ 85132
$469,900
2
Beds
2
Baths
2,094
SqFt
Status
Active
MLS #
6686698
Property Type
Single Family Residence
Price Type
--
DON'T WAIT MONTHS TO BUILD when this immaculate and highly upgraded Pursuit model is ready today. Notice the meticulously maintained desert landscaping, paver lined driveway and paver front patio. Inside is just as stunning as outside with features that include a chefs kitchen w/cherry cabinets, slide drawers, crown molding, quartz countertops, stainless steel appliances, pendant lights, under cabinet lighting, plantation shutters, a built-in entertainment center w/surround sound, den with double doors, a spacious laundry room w/storage cabinets and sink epoxy floors, garage storage and garbage can corral. Open up the two sliding doors to let the outdoors in! You and your guests will love the extended paver patio w/electric shade, fire pit and privacy wall. AMAZING HOME! AMAZING PRICE!
3613 W Sousa Court Anthem, AZ 85086
$469,900
3
Beds
2
Baths
1,567
SqFt
Status
Active
MLS #
6697734
Property Type
Single Family Residence
Price Type
--
Move in ready!! This 3 bedroom, 2 bath Anthem home features vaulted ceilings throughout, formal dining room, breakfast room with bay windows, oak cabinets in the kitchen, tile flooring, double sinks in the primary bath, walk-in closet in the primary bedroom, upgraded window shutters, covered patio w/ extended patio leading to fire pit, corner lot, 2 car garage, cul-de-sac lot, and more!
14230 W Kiowa Trail Surprise, AZ 85374
$469,900
2
Beds
2
Baths
1,616
SqFt
Status
Active
MLS #
6690774
Property Type
Single Family Residence
Price Type
--
Casita and Golf Course Lot! Upgrades include: 2022 replaced AC; 2017 replaced tile & flat roof $12k; $13k in pavers, $4800 exterior paint, $10k in vinyl plank flooring; new RO system. Private courtyard entry gives access to full-bath casita with walk-in closet and beautiful vinyl plank floors. Main house with painted kitchen & dinette cabinetry, granite counters, newer stainless appliances including built-in microwave and refrigerator. Vaulted ceilings, plantation shutters, and wet bar. Bay window in main master with own patio exit, dual sink vanity, walk-in closet, private toilet. Inside laundry w/ utility sink, painted cabinets, washer/dryer conveys. Beautiful pavers on wrap-around patio, driveway, sidewalk & courtyard; easy-care landscaping and golf course views. Water Softener, too!
11011 N Zephyr Drive Fountain Hills, AZ 85268
$469,900
2
Beds
2
Baths
1,460
SqFt
Status
Active
MLS #
6687201
Property Type
Apartment
Price Type
--
Absolutely Immaculate from the moment you enter this 2nd floor gem nestled in the heart of Fountain Hills. Boasting breathtaking Red Rock and Four Peeks Mountain views from the sweeping expansive covered balcony! Large Living room with new carpet and cozy F/P. Kitchen features granite countertops, breakfast bar W/I Pantry, new SS Range. All appliances to convey! Large sun soaked formal DR to entertain family and friends! Split master floorplan with spectacular master retreat featuring large W/I closet, sitting area and full glamour master bath with soaking tub, W/I shower and granite countertops. Wonderful supporting 2nd BR w/ built in Murphy bed and loads of storage and built ins make this room versatile! NEW H20! One car detached garage with built in storage! Community Pool and Spa!!