Both are these homes are available in the same development in North Murfresboro. One is for sale, and the other for rent. Both were built in 2005. The home for sale is approximately 270 square feet larger than the rental home. Since there is no way to predict what this home would actually sell for after negotiations or determine what concessions the seller might take, I prepared the estimated monthly payment based on FULL list price and even added the taxes and insurance to the monthly note. I think it is fairly safe to assume that in our current market the home would probably not sell for full list price with no concessions. The rental property would require a separate insurance policy for the owners contents. Since this amount would vary greatly, I did not estimate that monthly expense which would needed to be added to the monthly rent. Even with the factors entered in favor of the rental home, the monthly payment is still approximately $350 less when the home is purchased on a FIXED rate mortgage.
FOR RENT: FOR SALE: $269,900
$1,850 per month PLUS Insurance $1,503 per month INCLUDES Taxes & Insurance
SQUARE FEET: 3007 SQUARE FEET: 3274
BUILT: 2005 BUILT: 2005
The benefits of buying a home over renting are many! Home ownership allows individuals to take advantage of:
- Tax Deduction
- Lock in your monthly payment with no annual rent increases
- Forced savings with the potential to own your home free & clear with NO monthly payment
- Control over décor – its YOUR home and can reflect YOUR personality
- Provides stability to the families & especially children. YOU control when you move not the landlord
- Potential for a nice financial gain when the market recovers
- Homeowners are happier than renters according to a 2010 report published by NAR
- BEST OF ALL: LOWER MONTHLY PAYMENTS NOW!
There is no way to know when and if home prices will go up. But, a home is a tangible asset and homes are more affordable now than they have been in generations. The Secretary of HUD just stated last week on CNN that he did not believe home prices would decline further and anticipated the housing market would start recovery by fall. The Today Show had a short clip on the nation's current credit crisis and it was stated that experts fear our interest rates will most likely rise in the near future.
Take advantage of this rare market with affordable housing prices accompanied with historical low interest rates! If you are interested in Murfreesboro TN homes, or new homes anywhere in the Middle Tennessee area, I would love to work with you. If you currently own a home and would like to take advantage of the great opportunity to move-up and sell your current home, I would be happy to sit down with you and go over my extensive marketing plan. I welcome the opportunity to interview with you to be your realtor! My website has a free MLS search tool that will allow you to view all the homes available for sell in Murfreesboro, Nashville, and Middle TN. You can even save homes to your personal folder or email listings to friends and family or use my Foreclosed Homes Only search.
I hope to hear from you soon!