Deciding where to live is only half the battle. You also need to decide how to live. Should you buy or rent? Here are a few factors that might help guide your decision.
With current interest rates, the cost of a mortgage payment can be about the same as your monthly rent check. In a survey of 20 rentals in the same zip code as The Village at North Glen, the average price for a 3-bedroom rental is $1,414 a month. By comparison, the mortgage payment on a $230,000 home is about $1,500 a month. That’s only $86 more a month – and you own the house!
Here’s a side-by-side comparison of the features of owning vs. renting:
|The Village at North Glen (owning)||Rentals in the same zip code|
|Pets allowed||Yes||Varies by landlord|
|Community pool||Yes||Varies by property|
|Age of property||Brand New||10-50 years old|
In terms of features, it’s hard to beat The Village at North Glen. For about the same amount you’d pay in rent, you can live in a house that you own. No security deposits, no pet deposits, and you’ll never worry about parking, landscaping, or the noise that comes with living above – or below – another tenant. Plus, everything is brand-new, from the paint to the carpet to the appliances. Now may be the best time ever to stop renting and start owning.