What’s Up Everyone! John Ely here your local Phoenix Realtor and THIS is Selling Phoenix! Where we talk shop about ALL THINGS REAL ESTATE whether your buying, selling, or investing, we have you covered! Today we are diving into 3 reasons why your loosing money renting instead of buying your home.
#1 - Is Fixed Rate MortgagesYour loan payment won’t change the entire time you live there! No more rents increases or notices to move! Once you have at least 20% Equity in your home your payments will actually GO DOWN by dropping your Private Mortgage Insurance.
#2 - Is AppreciationReal Estate is a asset that builds in value overtime, unlike when you buy a car you can sell a home for more money the longer you own it for. The average appreciation rate over the last 2 year has been 5%. Thats $10,000 a year on a $200,000 house!
# 3 - Is Equity Equity is the measurement of the different of the amount you owe on your house and what it can sell for. The money you would make if you sold your home today. The more payments you make and the more your home appreciates the more Equity you will have. Unlike renting your making principal payments every single month, your money is going towards something.
Welp…! Thanks Wraps up EP 6 of Selling Phoenix, there are many more benefits to owning your home but, i hope these 3 Benefits has helped you with your decision to become a homeowner. If you have any questions please send them to the email address below and ill do my best to answer them. Thank you for watching and ill see you next time.
I would love to sit down with YOU and your FAMILY to talk about your REAL ESTATE GOALS. Whether you're BUYING, SELLING, or INVESTING let's make a PLAN together for what's best for you and your FAMILY'S future.
Contact ME today for your Phoenix Arizona Real Estate needs!