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

Renting or Buying… Either Way You’re Paying a Mortgage | Simplifying The Market

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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10746 W Wheatridge Drive Sun City, AZ 85373

$489,000 - 3Br/2Ba -  for Sale in Lot 103 Sun City Unit 37 Mcr 017339, Sun City
Open House
$489,000
3 Beds
2 Baths
2,153 SqFt
Status Active
MLS # 6677186
Property Type Single Family Residence
Price Type --
Stunning views for days! Welcome to this customized Forrester model w/stucco exterior positioned on 13th hole of Willow Creek Golf Course. You will love vaulted ceilings, tile floors w/carpet in bedrooms, tons of natural light, custom touches in kitchen with SS appliances & floor to ceiling cabinets. Plenty of space for entertaining, & spectacular sunsets. Boasting a huge master bedroom w/beautifully appointed ensuite, property also features 2 large guest bedrooms & guest bath in hall. Plus, the wonderful enclosed heated/cooled sun room featuring wall-to-wall windows overlooking an amazing view of the lush golf course(with 2 sliders to 2 sep patios.) WiFi remote controlled thermostat & garage door opener. In the garage, you'll find a work bench w/peg boards, & shelving a wall-mounted a/c plus heavy duty mounted overhead storage. Property is conveniently located near shopping, entertainment, restaurants & medical facilities.

20810 N 270th Avenue Buckeye, AZ 85396

$489,000
3 Beds
3 Baths
2,332 SqFt
Status Active
MLS # 6680875
Property Type Single Family Residence
Price Type --
DESTINY MODEL WITH CASITA! Rare 3 Bed, 3 Bath, + a den on a huge 11,126 sq ft lot! Tuscon stone accents & large paver front courtyard. Tile floors in main living area & brand new carpet in all bedrooms. Huge chef's kitchen w\lots of cabinets, center island, SS appliances (some newer), pull out shelves, & breakfast nook. Owner's suite w\bay window, step in glass shower with seat, separate soaking tub, dual sinks & walk in closet. Split guest bedroom w\ adjacent bath, provides privacy for guests. Plus the Casita is perfect for a 3rd bedroom, office, etc.. This home has Plantation Shutters throughout. Laundry features tons of cabinets & a sink. Enjoy the sunsets out back on the extended Paver patio. Garage w\cabinets & plumbed for a sink. New HVAC 2022, New Hot Wtr Tank 2023, & Solar!

5122 N 31st Way Phoenix, AZ 85016

$489,000 - 2Br/2Ba -  for Sale in Biltmore Terrace At Arizona Biltmore Estates, Phoenix
Open House
$489,000
2 Beds
2 Baths
1,319 SqFt
Status Active
MLS # 6681747
Property Type Apartment
Price Type --
Contemporary Spacious Updated -TURN-KEY exceptional BILTMORE TERRACE at ARIZONA BILTMORE ESTATES controlled access gated & security patrolled -Enjoy Walking Paths 2 Pools+ 2 Spas, Clubhouse on the GOLF COURSE & LAKES Fitness Center ELEVATOR -Relaxing South Exposed Balcony for great natural light! CONVENIENCE: pedestrian access direct to BILTMORE PLAZA Restaurants+Safeway Grocery Stores! Spacious kitchen w plenty of cabinet+counter space & breakfast area. UPDATED baths w stone vanities, throughout LED Lighting+USB-charging plugs, carpeting Spacious master suite w dressing & conversation areas and double-sinks - desk! Inside full Laundry! Both Hot & Cold water included w HOA, on demand & unlimited!

8331 W Palmaire Avenue Glendale, AZ 85305

$489,000
3 Beds
2 Baths
1,787 SqFt
Status Active
MLS # 6683629
Property Type Single Family Residence
Price Type --
Discover this inviting 3-bed, 2-bath home in the sought-after gated community of Positano. Enjoy a spacious primary bedroom with a walk-in closet and large shower. The den/office adds flexibility. The great room opens to a kitchen with granite countertops and stainless steel appliances. Neutral tones and wood tile floors create a cozy atmosphere. Outside, an extended patio overlooks the low-maintenance backyard. Community perks include a park/playground. Minutes from the 101 Loop freeway, State Farm Stadium, and the vibrant Westgate Entertainment District. Exciting developments await nearby. Don't miss out!

8782 W Laurel Lane Peoria, AZ 85345

$489,000
3 Beds
2.5 Baths
2,037 SqFt
Status Active
MLS # 6683709
Property Type Single Family Residence
Price Type --
PRIDE OF OWNERSHIP! This well cared for home is a RARE FIND. Starting with ALL NEW WINDOWS AND DOORS, including four sliding doors and sunscreens. NEW AC UNIT, and CUSTOM MODERN BLINDS. Ceiling fans with lights in every room. CARPET FREE. Upstairs has a HUGE LOFT for a second living room/office/or 4th Bedroom. SPACIOUS Master Suite, OVERSIZED CLOSET, Bathroom with separate TUB/SHOWER and TWO SINKS. Backyard has a COVERED PATIO, with a remote PATIO SUN SHADE, mature landscaping and beautiful GREEN GRASS. More than 50k of improvements. SOLAR PANELS with utility bills averaging $29/month. Located in a great, quiet neighborhood with walking distance to Cheyenne Elementary and close 101 freeway access. This one is a TRUE GEM.

521 W Posada Avenue Mesa, AZ 85210

$489,000
5 Beds
3.5 Baths
1,602 SqFt
Status Active
MLS # 6684696
Property Type Single Family Residence
Price Type --
5 bedroom, 3.5 bath, 2 garage, 1755 sf Tri-Level home w/stunning, artistic Arizona sunsets! This community is located in a top excelling Mesa School district! You are welcomed w/picturesque views of the DIVING POOL & lushly landscaped RESORT STYLE backyard! Light, bright, open, spacious floor plan with two Masters (1 on main level w/GRANITE & 1 upstairs) 2-tone designer paint w/warm, rich earth tones! Open, spacious eat-in kitchen smooth-top range, B-I microwave! Double door from Master to backyard! Covered patio & very private backyard! Great for entertaining! Built-in storage in backyard (Possible pool room) & fenced pool area w/artificial Turf!

10609 W Carlota Lane Peoria, AZ 85383

$489,000
4 Beds
2 Baths
1,902 SqFt
Status Active
MLS # 6685398
Property Type Single Family Residence
Price Type --
PRIDE OF OWNERSHIP - NO HOA - CORNER LOT, Location is everything! This Northwest Peoria home is minutes from the 303, Lake Pleasant, TSMC and offers an open floor connected with a beautiful updated kitchen, granite countertops, SS appliances, double oven gas stove, island, ample cabinet space, and eat-in-kitchen space. This split floor plan offers room for the whole family. Oversized owner suite w/double sinks and corian countertops, 3 additional nice sized bedrooms. Large covered patio and expansive backyard make this the perfect home. Exterior and Interior painted 2023, AC 10 years old, New dishwasher.

103 E Glade Lane Payson, AZ 85541

$489,000
4 Beds
3 Baths
2,137 SqFt
Status Active
MLS # 6686875
Property Type Single Family Residence
Price Type --
Nestled in a serene locale, this spacious home boasts rare C-2 zoning, offering a unique opportunity for a home-based business. With a charming family room and flexible office spaces or a cozy library, it provides ample room for both personal and professional pursuits. The gourmet kitchen overlooks a meticulously landscaped backyard oasis, and mature greenery, fostering an inspiring atmosphere for work and relaxation. Upstairs, the luxurious master bedroom includes an attached private office and balcony, providing tranquil views of the lush surroundings. Convenient RV parking and multiple parking areas ensure hassle-free access for clients and guests. With its blend of functionality, elegance, and prime location.

15611 W Shangri La Road Surprise, AZ 85379

$489,000
4 Beds
2 Baths
2,118 SqFt
Status Active
MLS # 6688003
Property Type Single Family Residence
Price Type --
Greer Ranch & Nestled on a corner lot, it features 4 beds, 2 baths w/ teen room/flex area & 2-car garage, Fabulous interior showcases a large living room, plantation shutters, abundant natural light, vaulted ceilings that add to the airy feel. The impressive eat-in kitchen boasts SS appliances, granite counters, recessed lighting, a pantry, ample white cabinetry, & an island w/breakfast bar. Versatile den/teen rm/office. Built-in desk. Ideal for an In-Law suite. Spacious main bedroom offers a barn door that opens to the ensuite with dual sinks, sizable shower, & a walk-in closet. 4th bedroom, with mini split, was formerly a garage. Enjoy the fantastic backyard with a covered patio, grassy area, firepit, & a sparkling pool! VA Assumable loan at 4.125% pool pump 2023 & liner 2021.

8932 W Maui Lane Peoria, AZ 85381

$489,000
3 Beds
2 Baths
1,965 SqFt
Status Active
MLS # 6688616
Property Type Single Family Residence
Price Type --
This home is nestled in the Desert Harbor Community in Peoria. With its scenic lakes and tranquil surroundings this Lake Community, is highly sought-after. This home offers a plethora of features. A 17 kW solar system was installed in 2022, it's owned (not leased) and is completely PAID IN FULL! You're greeted by a spacious living room and a dedicated Dining Area, perfect for entertaining guests or unwinding with loved ones. The office/den can also be a 4th Bedroom. The separate family room provides a comfortable space and includes a charming wood-burning fireplace. The kitchen has been remodeled with granite countertops and elevated appliances installed in 2022, creating a stylish and functional space. Updates including a new roof in 2017 and the AC was replaced in 2019.

1600 N Mclane Road Payson, AZ 85541

$489,000
4 Beds
4 Baths
1,906 SqFt
Status Active
MLS # 6688868
Property Type Manufactured Home
Price Type --
Owner/Agent This 1.75 Acre Property currently has 2 single wide mobile homes on it. Great views Hillside lot. All utilities on property. Including a 220 and sewer hook up for a motor home or charging your electrical vehicle. The West home A was remodeled in 2020 the East Home B is currently under renovation. Property is dividable into multiple lots check with P&D. Would be a great Multi-family Property. Both mobiles converted to Bunkhouses (no double sinks, dishwasher, or stove/ovens. Just use hot plates and convection microwave) so that there could be a home also built on the property (no impact fee). Check with local Zoning and building for clarification. The Values in the detail is the combined values of both homes... so each 2b2b home.

840 E Gary Lane Phoenix, AZ 85042

$489,000
3 Beds
2.5 Baths
1,981 SqFt
Status Active
MLS # 6688950
Property Type Single Family Residence
Price Type --
Situated near a private cul de sac, in a beautiful gated community, with stunning views of South Mountain, this home features 3 bedrooms + loft & 2 bathrooms, and is immaculate and move-in ready for your family! The exterior has lots of character, with a brick detailed covered porch and a low maintenance desert front yard. Filled with unique architectural details inside, such as an arched entry, this 2 story floorplan feels spacious from the moment you enter! The downstairs great room opens to the eat in the kitchen and dining area, and has all neutral, wood tile flooring for comfort and ease. The kitchen is beautifully upgraded with granite countertops and a large island, staggered cherry cabinets with crown molding, and all stainless-steel appliances included. A separate pantry and lot of cabinets give you plenty of storage space too! The 20 ft. wall to wall panel, multi sliding glass doors takes the great room to another level and connects the indoor and outdoor living spaces, which makes the home feel even more open & elevated! Also downstairs is a half bath with pedestal sink and the laundry room with the washer and dryer included! The rod iron decorative stair railings to the 2nd level add to the class & style of the home! Upstairs you will find a large loft for an office, playroom, or sitting area, with gorgeous views from the windows of South Mountain. Also are 2 well sized additional bedrooms, with a walk-in closet, and a full bath with a tub/shower combination. The master bedroom is so unique, with a turret entry, on one side a very spacious master bedroom and walk-in closet with shelves, and on the other is the roomy master bath featuring a large tub and separate shower, and 2 separate sinks! Linen closets, coat closet and a 2 car garage gives you plenty of room for your storage! The backyard is stunning and low maintenance! A full-length covered patio, with upgraded turf make this a perfect place to grill, entertain, or just relax, and plenty of room for a pool! Firepit & grill included! Only 1 owner, who loved & maintained the home so well! The gated community features a community pool, walking trails, tot lot and tree lined streets! Just minutes from walking trails, hiking, Downtown Phoenix, Sky Harbor Airport, Tempe, schools, dining and entertainment. The area is growing w/ the light rail expansion to Baseline coming in 2024! Such a great place to call home! Come view it today! (Buyer to verify all information during due diligence period)

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