Thinking of buying a home in Contra Costa County? This is the time to really look through our finances and if you are tracking your finances on a yearly bases, you’ll see an overall perspective on what you are spending your money on and what has generated a return. So, while FB users are participating in the “How Hard has Age Hit Me Challenge,” we challenge you to the “How Hard Has Renting Hit Me Challenge!”
If you are facing the difficult decision between renting and homeownership in the Bay Area, you are not alone. Everyone’s personal situation is unique and therefore there is no one correct answer. What is even more challenging is trying to navigate your options without becoming completely overwhelmed.
We thought it would be geat it would be a great idea to show you some great informaiton we came across from Nick Ridge @ RPM Mortgage in Alamo. There are financial opportunities that you are missing out on if you have been renting in the last few years. Lets take a look at what 10 years would look like.
Above the image shows you that buying a home, although may cost you a bit of money on the front end, it is completely worth it in the end. The comparison, shows you over $10,000 worth of savings a year, over $100,000 in 10 years. This is including closing costs, maintenance, 3% inflation, interest, etc. In this particular scenario, the renter invested the money saved from buying a home and earned $18,222. What you’ll notice under the buying benefits are tax savings of over $90,000 and Home Appreciation of over $206,000. So, if you are looking at this from a long term investment standpoint, buying a home is another way to save or earn more on your money.
We thought we would also show you what five years looks like. Check out the image below.
The estimate above shows a ssavings of over $32,000 if you purchased in the last five years.
Good news…our friends at Realtor.com have a rent vs. buy tool! All you do is enter your current rent and proposed purchase price of a home. The advanced tool option allows you to edit items such as down payment and interest rate to make it more specific to your situation. Then you hit calculate and you quickly see an overview of your options. Here are a few examples of the graphs and stats that they provide:
So now, we challenge you to run through your scenario and find out How Much Renting Has Hit Me Challenge! Click here to visit the Ridge Real Estate website so you can run your your scenario. Feel free to contact any one of the Ridge Real Estate Group if you have any questions or a more custom assessment.
The Ridge Real Estate Group has been Building Relationships for Generations as your Real Estate Team throughout Contra Costa County. Steve and Debbie Ridge are Real Estate Brokers who started their journey about 30 years ago in Benicia. Their knowledge, expertise and reputation in the industry has created a name that lasts and empowered their very own daughter, Jessica Evans, to join the Ridge Real Estate Group and to take the company to the next level!
Watch The Ridge Real Estate Group Story!
Together, the Family Real Estate Company covers a multi generational wealth of knowledge! Debbie and Steve Ridge brings you years of experiences and the main core of real the Real Estate industry, while Jessica Evans brings you her extensive background in marketing and technology.
“Still the same, in one important sense, and that is this is a relationship business. That hasn’t changed. The technology absolutely, but the core is building relationships and working with people.” Steve Ridge
Jessica’s vision to grow the Ridge Real Estate group is a combination of keeping family traditions, while building a strong team with a reputable name for their clients throughout the Contra Costa County.
“I see the Ridge Real Estate Group as a reputable team in the industry. We don’t over promise and under deliver and we don’t disappear after the transaction. We build relationships with our clients for generations!” —Jessica Evans
To read more about Jessica Evans and the Ridge Real Estate Group Click here.
If you want to know your Home’s Value Click the Link for a Complimentary home valuation
To learn more about the Ridge Real Estate Group, log on to www.RidgeRealEstateGroup.com
Realtor | Ridge Real Estate Group
Berkshire Hathaway Drysdale Properties
Cell: 707.315.9803 | Team Line: 925.289.9709