Why Buy vs. Rent

When you are thinking of renewing your lease this year, consider this:  rental rates are generally higher priced than a monthly mortgage payment.  All jokes aside, you could own a home and be paying less than you were renting an apartment.

I had clients this past summer who were renting an apartment for $950/month in a crummy neighborhood and we were able to get them qualified and in a home by October 1st. Their monthly mortgage payments were less than $700/month!  Doesn't that sound nice!  




Looking at this chart, a $200,000 home with a 3.5% interest rate has a payment of $1,314 while that same home could be rented for $1,600+ each month.  Which would you rather pay?

The interest rates are still phenomenal and mortgages are being locked in rates consistently at 3.5%.  Tired of your high monthly payments?  Sell your house and buy the home of your dreams with great interest rates and low monthly mortgage payments!  


Want to talk to a professional real estate consultant
Call Chelsea Elwood, Realtor today at (602) 748-6136
Keller Williams Realty East Valley

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