Why Are you still Renting?
Maybe you have no idea you qualify for a home, Or maybe the down payment is stopping you from moving forward. You may not even know you have options! If you are paying $2500.00 + rent a month you are in a position to buy you just do not know it.
Have you ever wondered how co-workers and friends own a home and you seem to be living paycheck to paycheck or at least it feels that wasy? I have news for you you are already paying a mortgage just not yours! You ar enot receiving the tax benifit your landloard is and he/She Thanks You by rasing your rate each year!
Over the the past several months I have been working with more and more buyers who have been renting for years and years! They have been waiting for the right time to buy and as the rents continue to go up they make the choice to become home owners.
My last three sales have been with buyers spending on average $2500.00 a month to rent an apartment! Each one had less space than they desired and were so tired of spending that much money monthly with nothing to show for it! Living in 1100+ sq feet or less gets old and rising rents really stinks!
I did some checking on the REALTORS MLS and found
right here in Lorton, Virgina by my office
we only have 5 available single fmaily homes
for rent now. You will notice on the graph to
right that the Avg Price of a 4 bedroom home avialable right now is $3210.0 and has only been on the market 6 days.
Now Look at the Rented section and you will see that the average Rented Home in th elast 90 days rented for $3111.00 for a 4 bedroom home! That suggest rental rates are increasing once again! OUGH!!!
So what are your options?
Continue to Rent and Pay the higher prices?
My three most recent sales have been people just like you who were searching the internet for Rentals and wondering if there was a better way. They had no idea of their options but they picked up the phone and called me. I am happy to say in less than 30 days each has found that buying was in their best interest and I mapped out a plan to help them acheive their goals of home ownership. All three are under contract for homes priced in the $500,000 or higher price range.
They had absoloutly no idea they could not only afford to buy a home much less at this price. Now they realise they could not afford not to! They not only tripled their living space they also now are headed to being proud owners who can put their personal style into decorating and starting to put donw some roots. The idea of not moving again had such appeal to these renters turned buyers.
If you are paying $2500.00 or more in rent an have good credit this Blog Post was meant for you. It costs nothing to explore your options. My services are always FREE to you the seller pays my fees.
The tax savings of owning can be substancial and add to that the opportuity to build equity and you have something to really think about. Right now Interest Rates are still under 4% but are expected to rise over the next six months. So if you have a lease that will expire within the next six months we need to talk.
Don't Beleive me take a look at two of my favorite tools for helping buyers .
My favorite is the After TAx Payment Calculator
or for those of you thinking of doing an FHA Loan with 3.5% down
http://www.anytimeestimate.com/FHA/fha-mortgage-insurance-calculator.htm
With Interst Rates on the rise you owe it to yourself to at least look in to the option of buying before you reew your lease.
If you are Veteran Renting please call me you are missing out on the best benefit you have and I would like to help you maxiimize it. My most recent Veteran just puchrchased a $440,000 hone for 97cents out of their pocket at closing! If you ar egoing to be in the area for 2 years or more you need to consider buying! I have people evey day who wish they had the No Money Down, No Closing Cost option!
I just checked in with one of my VA renters I helped hoe last July 2014. He purchased a home for $399,900 at 3.85%. Not only did he save money with the tax benedit but I had the pleasuse this week of showing him that he now has $45,000 euqity becuase he purchased at the perfect time and we has now has a wonderful nest eqq saved in equity! He was so excited !!
Contact Patty Now or call me at 703-8019367 and Let's talk about your specific situation and options.
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