Home For Sale Contact Us FAQs Links Financing Insurance
 
 
 
Try Google Site Search

I've never looked at owning a Mobile Home, but I found that they are so much more affordable than site-built houses.  Debbie and Bob were very helpful and were there every step of the way.  I am now the proud owner of a new home and couldn't be happier.  R. & A. McNamee

My husband and I have been renting an apartment for 6 years.  Our family is growing and it was time to buy our own home.  Since it was our first, we had a ton of questions, Ken and the team at Gold Coast were very patient and answered all of them.  We love our new home.  Y. & C. Maness

We listed our home with Debbie and Ken and within 2 weeks we had 2 offers.  Our home sold and the process was very quick and painless.  T. & J. Simonton

I like the fact that when I call, I get to talk to a real person, or they return my call very quickly.  Usually though, they call me first.  J. & G. Nicholls

I found my dream home.  I've been looking for 4 years and finally found it.  Everyone at Gold Coast was extremely helpful.  M. Washington

 

 
 
You Can Afford To Buy
Rent vs. Buy...That is the Question

The Advantages of Ownership

Rent vs. Buy

It should cost you less to own a home than to rent. There is a fairly simple calculation that will tell you this:

Take your monthly rent and multiply by 200 = purchase price of home

$ rent per month x 200 = $

Example: $900 X 200 = $180,000

In this example, the payment on a $180,000 home would be comparable to a $900 monthly rental payment.

In addition to the current cost of renting vs. buying, you must also take into consideration the future cost. As a renter you are exposed to future rent increases because it is reasonable to expect an annual increase of 4% per year to your rent.

There are many advantages to home ownership. The value of a home usually increases during the years that you are paying your loan down. This increase in equity builds up the wealth that you accumulate in your home. Even without this expected increase in value, paying on a mortgage over 20 years can guarantee that you will own your home free and clear when you retire.

This reduction in monthly housing expense is something many retirees look forward to. If you choose to trade down after retirement to a less expensive home, you can use the difference in value to free up a lot of extra income you currently have in your home. The home equity you are building in your home can also be borrowed against at some future time for college expenses, vacations, remodeling the home or almost anything else you might need the money for.

Another benefit to home ownership is that you are not subjected to the intrusion of a landlord. Generally no one can tell you what you can and can not do with your property. If something is broken you are not at the whim of someone else as to when, how, or why, it should be fixed. A landlord can decide to sell the property and put you out into the street.

As a homeowner, you have the security of knowing that you have a place to live, as long as you continue to meet all your mortgage obligations such as timely mortgage payments, timely payment of tax and insurance obligations.