Perfect Rainbow for Sacramento Home Buyers

Buying a Home is Cheaper Than Renting

Sacramento home buyers I’m going to show you the difference between renting and buying a house. You will be able see the cash saved and the money thrown down the drain when renting.

Don’t want to miss out on a fabulous time to buy a house. Home buyers need to get PreApproved and get started with a Realtor finding your home.

Everyone talked about the “perfect storm” and yes it was with bad loans and home buyers who were not properly PreApproved as well as home prices at an all time high. Real Estate took a dive and now the rainbow has come out for all new Sacramento home buyers.

Well, if that was the “perfect storm” then this is the “perfect rainbow.”  With record low interest rates we have never seen and Sacramento home prices low this makes for an excellent time for 1st time home buyers to buy a house. According to National Association of Realtors and an article that came out today in Realty Times, the low interest rate which we are experiencing right now at a historic low will rise in 2012.  Not too far away.  This will effect new home buyers so now, is another reason this is a “perfect rainbow” for 1st time home buyers.

Many first time home buyers are renting and paying their landlord’s mortgage payment each month instead of paying their own house payment and getting a tax right off.  Money down the drain.

Below, I have listed homes and townhouses that are currently for rent in several Sacramento neighborhoods.  Under each current rental, I have found a home in the same neighborhood to show the difference a home buyer would pay each month to own a home versus paying rent.

In my calculations for monthly payment on a house for sale, I used 4% interest rate for a 30 year loan with a minimum of 3.5% down payment including PMI, taxes and insurance in order to give Sacramento home buyers a clear picture of how to save money by buying a Sacramento home versus renting.

Do you want to help pay the investor’s mortgage or would you rather pay your own and get the tax right off?  Just sayin’ I would love to help you find your next home and save you money!

Examples Below of Rent Costs versus Buying a Home

Check this out…surprising, hugh?

Arden Arcade, 95821 Renting vs Buying a Home

3 Bedroom, 2 bath home rents for $1495

3 Bedroom, 2 bath home for sale $199,900 for $1,250/month payment. Click to see the Arden homes for sale

Arden Park, 95864 Rent vs Buying a Home

4 Bedroom, 2 bath home with pool rents for $3,195

4 Bedroom, 2 bath home with pool for sale $379,000 with $2,299/month payment. Click to see Arden homes for sale

Carmichael, 95608 Renting vs Buying a Home

4 Bedroom, 3.5 bath home near Ancil Hoffman rents for $5,395

5 Bedroom, 2 bath home near Ancil Hofffman home for sale $299,000 with $1,831/month payment. Click to see all the homes for sale in Carmichael

Campus Commons, 95825 Rent vs Buying a Townhome

3 Bedroom, 2 bath Townhouse rents for $2,750

3 Bedroom, 2.5 bath Townhouse for sale $185,000 with $1,163/month payment. Click to see the Townhomes for sale at Campus Commons

Curtis Park, 95818 Renting vs Buying a Home

4 Bedroom, 2 bath home rents for $2,195

4 Bedroom, 1.5 baths home for sale $304,900 with $1,865/month payment. Click to see Curtis Park homes for sale

East Sacramento, 95819 Rent vs Buying a Home

3 Bedroom, 2 bath home rents for $2,195

3 Bedroom, 2 bath home for sale $285,000 with $1,749/month payment. Click to view East Sacramento homes for sale

Elk Grove, 95758 Renting vs Buying a Home

4 Bedroom, 3 bath home rents for $1,745

4 Bedroom, 3 bath home for sale $149,950 with $958/month payment. Click to view Lakeside in West Elk Grove homes for sale

Folsom, 95630 Rent vs Buying a House

4 Bedroom, 4 bath in Empire Ranch rents for $3,095

5 Bedroom, 2.5 bath home in Empire Ranch costs $399,000 with $2,417/month payment. Click to see homes for sale in Folsom

Garden of the Gods, 95864 Rent vs Buying a House

3 Bedroom, 2 bath home rents for $1,595

3 Bedroom, 2 bath home for sale $194,000 with $1,216/month payment. Click to see Garden of the Gods homes for sale

Greenhaven, 95831 Rent vs Buying a Home

3 Bedroom, 2.5 bath Townhouse rents for $1,595

3 Bedroom, 2.5 bath Townhouse for sale $149,000 with $952/month payment. Click to view Greenhaven homes for sale

Land Park, 95818 Renting vs Buying a Home

3 Bedroom, 2 bath home rents for $1,995

3 Bedroom, 2 bath home for sale $249,900 with $1,543/month payment. Click to view Land Park homes for sale.

Natomas, 95835 Rent vs Buying a Home

3 bedroom, 2 bath home rents for $1,795

3 Bedroom, 2 bath for sale $149,000 with $952/month payment. Click to see all Natomas homes for sale

Rocklin, 95765 Rent vs Buying a House

4 Bedroom, 3 bath home with pool in Whitney Oaks rents for $3,595

4 Bedroom, 3 bath home with pool for sale in Whitney Oaks $439,000 with payment of $2,651/ month. Click and check out Rocklin homes for sale

Roseville, 95678 Renting vs Buying a Home

3 Bedroom, 2 bath home rests for $1,695

3 Bedroom, 2 bath home for sale $159,000 with $1,011/month payment. Click to see Roseville homes for sale

West Sacramento, 95691 Rent vs Buy

3 Bedroom, 2.5 bath home rents for $1,445

3 Bedroom, 2.5 bath home for sale $134,900 with $870/month payment. Click to see current homes for sale in West Sacramento

Sacramento home buyers, if that doesn’t paint a pretty picture with relevant facts I don’t know what will.  It’s a shame to pay more in rent than you would if you bought your own home. Not to mention the fact, no one will tell you, you can’t have pets or charge you an additional fee for your pet when you buy your home…home buyers you might want to take that giant leap and save yourself a lot of money!

For More Helpful Real Estate Tips:

What Every Home Buyer Should Know About Homeowners Associations

What is a CMA that Sacramento Realtors Use?

Are YOU a Sacramento Home Buyer Buying Your First Home?