Buy or Rent

Buying versus renting is the conflict many people get into when deciding to either buy or continue renting. The house attached to this post is currently for sale and it closely matches many of the rental properties available for size and la...yout. A house like this will rent for between $750 to 900 per month and you also pay for utilities. If you buy this house, put down 5% of the purchase price and secure a mortgage of $140,000 over 25 years, at todays mortgage rates you will pay $658.96 per month, add in about $150 for property taxes plus utilities, you will pay about what you are paying now. The advantage is that you will own the property, get to do as you wish to it and not have to wait for a landlord to show up and maybe fix what is wrong with the house. IF you are able to pay down more and get a $125,000 mortgage, your payments are reduced to $588.35 a month. So you can rent and pay off someone else's mortgage and increase their wealth or buy your own and increase your financial wealth. Give me a call and we can work together to see you gain in your financial well being now or plan for your future. 


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Randy Stevenson

Randy Stevenson

CENTURY 21 Acclaim Realty Limited
Contact Me