Buying V. Renting in Conway, AR

By
Real Estate Agent with Sandstone Real Estate Group

Many people living in Conway, AR rent their homes. I have always asked them why do you just throw money away? The answer i get time and time again is, "i can't afforda a house, or i don't want to spend that much money a month."

Well folks her is the answer to them.

Renting a 1200 square foot home in Conway, AR cost the tenant any where from $750-$900 each month. That is money that is being thrown down the drain...

A 3 bedroom, 2 bathroom home in Conway, AR, that is 10 years old, has a market price of around $110,000.00. With a 30 year FHA fixed Rate mortgage at 4.5% interest (taxes, insuance, and PMI included in the payment) would run a home owner around $775.00 a month..

 

Benifits of owning your own home:

1. You can deduct the interest and property taxes on your tax return.                                        

2. There is no annual increase in your Fixed Rate Mortgage payment, there might be a 3% increase annually for a lease.

3. Real Estate historically tends to appreciate, So over the next 5-10 years your home will gain value.

4.FREEDOM... Yes Freedom there is no landlord hasseling you, or telling you what you can and can't do in Your Home...

If you have any questions about the Local Real estate market please feel free ask them at

www.yourexitrealtor.com

Blake Roussel

 

Posted by

 

Buying and Selling a home is a huge Financial decision, Blake Roussel with Sandstone Real Estate Group is your Real Estate Professional for Conway, Little Rock, Maumelle, Benton, Bryant, Jacksonville, Cabot, and Searcy, Arkansas. My goal is to walk you through each step of the buying or selling of your home, so that we have a smooth transaction.  Call Us today 501-230-6082. Customer Satisfaction is our #1 GOAL, we are here to serve you throughout this process. Check out what my past clients have said about my Past Clients have said about my services. We look forward to hearing from you.

“Then Difference between FOR SALE and SOLD”

Comments (2)

Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

Blake, Thanks for Sharing & Welcome to the Rain! Active Rain is a great place to share your knowledge, expertise and thoughts, as well as network and learn so much from the vast pool of talent already onboard.

Welcome Aboard and Much Success

Nov 07, 2010 06:02 AM
Anonymous
Laura Roussel

You're absolutely right!  In fact the rent to own ratio is the best it has been in 25 years in Arkansas.  This means the conditions for buying a home greatly out way that of renting.

Mar 04, 2011 10:32 AM
#2