Our goals are simple -- to ensure that you're happy with
the home you buy, that you get the best deal you can, and
that owning the home helps you to accomplish your financial
goals. Most people should eventually buy homes, but not
everyone and not at every point in their lives. To decide
whether now's the time for you to buy a house, consider
the advantages of buying and whether they apply to you.
Owning should be less expensive
than renting
Here's a guideline that may change the way you view
your seemingly cheap monthly rent. In order for you to
see how expensive a home you could afford to buy while
having the same approximate monthly cost as your current
rent, simply do the following calculation:
Take your monthly rent, multiply by 200 = purchase price
of home
Example: $ 750 x 200 = $150,000
So, in the preceding example, if you were paying rent
of $750 per month, you would pay approximately the same
amount per month to own a $150,000 home (factoring in
tax savings). Now your monthly rent doesn't sound quite
so cheap compared to the cost of buying a home, does it?
Even more important than the cost today of buying versus
renting, what about the cost in the future? As a renter,
your rent is fully exposed to increases in the cost of
living, also known as inflation. A reasonable expectation
for annual increases in your rent is 4 percent per year.
Stop renting and own your own home today.
Contact
Jan Arnold today!
Jan Arnold
Realtor, ABR, SRES, CSP, CRS
Office: (757) 757-449-8732
Fax: (757) 426-5966
Toll Free: (866) 591-6683 (MOVE)
jarnold@roseandwomble.com
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