Owning vs. Renting
Owning gives you a feeling of success!
You begin to enjoy your new home or condominium from the first day you move in. Most investments require a period of time to elapse before any enjoyment is derived, but not so when buying a home. When you landscape, add a patio or paint you not only have the use and enjoyment of these additions, you also increase the value of your investment. If you're renting, I'd like to talk with you about the homes on the market today that fit your financial position. There's no obligation to you. Give me a call anytime.
Owning gives you lots of freedom!
You can play your stereo as loud as you want paint the walls any color you wish and do the laundry any time!!!
How much “home” can you afford?
Generally, lenders figure that the homebuyer shouldn't pay more than 28% of their gross monthly income for their mortgage payment including principal, interest, taxes and insurance (PITI); or 36% when they combine all monthly debts together with the PITI payments.
The easiest way to make a quick estimate of the mortgage amount you may qualify for is to apply these two basic formulas to your situation. Using a combined family income of $24,900 divide by 12 to find the gross monthly income (before taxes) is $2,075. This family could probably qualify for a monthly PITI payment of $581 using the 28% formula; or $747 using the 36% formula for determining the total monthly debt structure.
Keep in mind that the monthly payment will vary according to the amount, interest rate and length of time of the mortgage.
Get tax breaks, too!
It's a fact. Uncle Sam actually helps you become a homeowner by allowing generous tax deductions. The majority of the mortgage payment is the interest paid and homeowners deduct the interest paid before determining what their taxable income is. Real estate taxes are also deductible. This means that the "net" cost of homeownership is much less than it initially appears.
As your real estate professional I will be able to show you any home that is available regardless of who has the property listed! I can save you endless hours of frustration by acting as a clearing house for all the available properties in the area(s) you're interested in. I will be more than happy to accompany you to any open house, new construction or available listing at a time that's convenient to you!
There is no cost to you, when you select me to act as your real estate representative. I'm eager to work with you and explore the possibilities of finding a home or condominium that fits your present financial position.
Talk to Tucker We Listen!