Renting or Buying… Either Way You’re Paying a Mortgage

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.23% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.  Give me a call for a no-cost, no-obligation consultation about learning the process of buying your own home – J.P. Cook – 602-320-4253.

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1993 E Georgia Ruth Lane San Tan Valley, AZ 85140

$453,990

4 Beds

3 Baths

2,435 SqFt

Status Active

MLS # 6678708

Property Type Single Family Residence

Price Type --

New Construction!! Nestled perfectly in the sought after city of San Tan Valley. Adorable 4 bedroom 3 bathroom home with a 2 car garage plus storage. Our Ashton Woods Artisan Collection, spacious owner's suite, stainless steel appliances, granite kitchen countertops and shaker style cabinets makes this a place to call home. Conveniently located off of Combs Rd and Schnepf Rd. As with all of our homes, this one is also constructed as ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability!

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3180 W Juniper Canyon Drive Phoenix, AZ 85083

New

$453,990

3 Beds

2 Baths

1,232 SqFt

Status Active

MLS # 6692863

Property Type Single Family Residence

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Below Market Financing Available!!!!!!!!!! This single-level home showcases a spacious open floorplan where the Great Room, kitchen and dining room share a footprint that helps maximize the low-maintenance interior. Three bedrooms provide comfort and privacy for household members and overnight guests. Among those bedrooms is the luxurious owner's suite, which features a restful bedroom, en-suite bathroom and a walk-in closet. Photos are renderings of a model home, not the actual home.

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2245 E Flower -- Phoenix, AZ 85016

$453,900

3 Beds

1 Bath

1,511 SqFt

Status Active

MLS # 6664508

Property Type Single Family Residence

Price Type --

ANOTHER GREAT CORNER LOT PROPERTY THAS IS BEEN REMODEL WITH NEW PAINT EXTERIOR AND INTERIOR!!!!NEW TILE FLOORS THROUGH OUT,NEW KITCHEN CABINETRIES,NEW COUNTER TOPES,CEILING FANS AND MORE. COENER LOT WITH RV GATE AND POSSIBILITY TO BUILT A GUEST HOUSE

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17382 W El Caminito Drive Waddell, AZ 85355

$453,870

3 Beds

3 Baths

2,040 SqFt

Status Active

MLS # 6649053

Property Type Single Family Residence

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Single Story, 2-Car Garage, 3 BR, Den w/Double Doors and Tile, 3 Bath, 36'' Skylar Shale Cabinets, White Ice Quartz Countertops, Under Cabinet LED Kitchen Lighting, 6 x36 Oceanside Cottage Tile Flooring, Bit of Gray Carpeting, Faded Grey Interior Paint, SS Gas Range Double Oven Slide-In Appliance Package, ,Holiday Pkg, Laundry Room Cabinets with Sink, Soft Water Pre-Plumb, Gas Stub for future BBQ, Ext Color Scheme #7

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