As a homeowner, you may have heard the term re-financing without being aware of exactly what it means, but there are a lot of pros and cons associated with what it can do for your financial situation. While getting a different new loan for your mortgage can be a good financial decision in certain situations, here are some things you should consider before you decide that this is the right choice for you.
Getting A Lower Rate
One of the main reasons that re-financing can be a popular option for many homeowners is that it can provide the opportunity for considerable money savings. Since you will be acquiring a new loan with a lower interest rate, this will be an opportunity to reduce your monthly payments, increase your equity at a faster rate and invest the extra funds into something else. While a lower rate can definitely mean money savings, it’s important to consult with a mortgage professional so you’re aware of any associated fees and can make a decision that will be financially beneficial.
Consolidating Your Debt
It is often the case that people will choose to refinance their mortgage with a lower-interest rate in the hopes of paying off the debt they’ve accumulated, but with the cost of refinancing this is not necessarily the best financial decision. While consolidating debt can be great if you go into it with a budget that you plan on sticking too, if you’re leaning too much on the idea of a lower interest rate meaning instant savings, it may be a good idea to take a look at the numbers.
Investing In Your Home
For many people, re-financing their mortgage is a good opportunity to renovate their home and increase its value. However, while renovating your home can be a good idea for resale, there are many home renovations that will not necessarily increase the value of your home and make up for the amount you’ve invested. If you’re making forward-thinking renovations, refinancing is one thing, but ensure you’ve seriously considered what will add value.
There can be a number of financial benefits when it comes to refinancing your mortgage, but it’s important to work out your tentative budget and crunch the numbers before you make a final decision. If you’re currently looking into re-financing your home and are curious about what it entails, give me a call for more information – J.P. Cook – 602-320-4253.
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9985 N 79th Place
Scottsdale, AZ 85258
$1,975,000
3
Beds
3.5
Baths
4,550
SqFt
Status
Active
MLS #
6731153
Property Type
Single Family Residence
Price Type
--
Finally, a resort-style home in Gainey Ranch, North Meadows community! AC unit (New Sept 2024) with a transferrable warranty to the buyer. Exceptional designs by the builder & owner add luxury and charm. First floor 2 Main bedrooms with full baths. Open kitchen and family room to enjoy fireplace. Large formal living space, dining, and office/den with custom cabinetry. The second floor has large bedroom, bath, and balcony for perfect guest quarters. Evap cooled storage and work space in the 3-car. Roof fully replaced 2021. Enjoy the private, low-maintenance backyard with a built-in BBQ. Luxury living extends to the Gainey Estate Club for all residents with state-of-the-art fitness equipment, pickleball & tennis, lap pool, spa, and luxurious gathering spaces.
12839 S 34th Court
Phoenix, AZ 85044
$1,975,000
3
Beds
3.5
Baths
4,952
SqFt
Status
Active Under Contract
MLS #
6747486
Property Type
Single Family Residence
Price Type
--
Immaculate Custom Pueblo Santa Fe Retreat in Ahwatukee Foothills Nestled into your private 1.5 acres in the stunning Ahwatukee Foothills, this custom Pueblo Santa Fe style home offers unparalleled mountain views from every window in every direction. Spanning nearly 5,000 square feet, the home is a masterpiece of design, featuring natural wood beams, flawless Mexican Saltillo tile, and pristine hardwood flooring. The Interior Santa Fe style's characteristic elements include round walls and edges, corner fireplaces, vigas, and a series of rooms fronted by covered porches, called portales, echoing the Pueblo rooms designed around a central plaza. Large custom iron & solid wood doors, adobe-inspired built-in lighting fixtures, every detail speaks to its exceptional craftsmanship. The multi-level resort-style backyard is an entertainer's dream, boasting balconies, patios, heated pool, in-ground jacuzzi, and pergola, all framed by a natural desert landscape. All outdoor planters will convey, enhancing the home's serene outdoor ambiance. You'll find 5 fireplaces strategically placed throughout, providing warmth and elegance. The primary retreat upstairs offers a private sitting area, a large walk-in closet, and a luxurious bathroom with a separate shower and jetted tub. Every bedroom provides direct outdoor access and its own private balcony, ensuring a seamless indoor-outdoor living experience. This home has been meticulously cared for by the original owner. Recent upgrades include a new Mexican tile roof (2024) and replacement of all 4 AC units within the last 7 years. The windows are in excellent condition, further underscoring the home's attention to detail and quality maintenance. No corners have been cut in this well-loved property, making it a truly unique opportunity in the heart of Ahwatukee. This home offers luxury, privacy, and timeless beauty.
3430 E Kachina Drive
Phoenix, AZ 85044
$1,975,000
7
Beds
5.5
Baths
6,048
SqFt
Status
Active
MLS #
6781862
Property Type
Single Family Residence
Price Type
--
Located on Phoenix's stunning South Mountain preserve w/ expansive mountain views. The paradise perfect backyard is complete w/ a gazebo, built-in BBQ, fireplace, pebble finished pool & spa & private gate to access the mountain for your morning hike. The gourmet kitchen features high-end stainless-steel appliances & gas cooking. Over 20' vaulted ceilings & Travertine flooring. 2 bedrooms, 2 full baths & a powder room down. The primary bedroom is upstairs featuring a 2-way fireplace, balcony, 2 walk-in closets & additional washer & dryer. One of the secondary bedrooms upstairs has its own kitchenette, a total of 5 bedrooms & 3 full baths up, including a separate staircase for secondary rooms. Recent updates include; exterior paint, full roof underlayment replaced, carpet, blinds & more!
8265 E Kramer Circle
Mesa, AZ 85207
$1,970,000
5
Beds
4.5
Baths
5,134
SqFt
Status
Active
MLS #
6743893
Property Type
Single Family Residence
Price Type
--
TOTAL REMODEL on arguably the best lot in Savona! Cul-de-sac AND backs to a wash! Total Privacy! Plus CASITA, OFFICE, and THEATER rooms. Inside upgrades include: Wolf + Sub Zero appliance package, double ovens, custom cabinetry, porcelain kitchen counters, brick & stone backsplash + accents, quartz bath counters, new lighting, plumbing fixtures, & LED can lights thru out, surround sound/multiple zones, security system, 20' x 10' multi slide door, cantera stone fireplaces, + more! Outside upgrades include: new commercial grade misting system, heated pool + spa, epoxy garage floor w/soft water hose bib for car washing, new garage doors, new eave trim lighting, gas firepit, HUGE yard w/new turf + putting green, surround sound speakers, and more! Close to everything!
30416 N 64th Street
Cave Creek, AZ 85331
$1,969,995
4
Beds
3.5
Baths
4,010
SqFt
Status
Active
MLS #
6770393
Property Type
Single Family Residence
Price Type
--
Experience the pinnacle of Arizona living in this stunning custom home located near N 64th Street, just minutes from the vibrant hubs of Scottsdale, Desert Ridge, and High Desert. Nestled on a sprawling 1.4-acre lot with no HOA restrictions, this exquisite property combines the serenity of desert living with the convenience of nearby urban amenities. The heart of this home is its resort-style backyard, featuring a sparkling pool, lush landscaping, and ample outdoor spaces designed for relaxation and entertaining. Whether hosting gatherings under the stars or enjoying a peaceful morning coffee while taking in breathtaking desert views, this backyard is your personal oasis. Inside, you'll find a meticulously crafted home with a thoughtfully designed split floor plan that provides both privacy and functionality. The open living spaces are adorned with high-end finishes, custom details, and large windows that bring in natural light and highlight the beauty of the surrounding desert landscape. With plenty of room to bring your vision to life, this property is ideal for car enthusiasts, equestrians, or anyone dreaming of adding additional amenities like a guest house or workshop. Located in Cave Creek, this home offers the perfect blend of tranquility and accessibility, with proximity to upscale shopping, fine dining, outdoor recreation, and top-rated schools. Don't miss this rare opportunity to own a luxurious retreat that embodies the freedom and beauty of Arizona living. Make this breathtaking home your desert sanctuary today!
3852 E Expedition Way
Phoenix, AZ 85050
$1,964,000
7
Beds
6.5
Baths
6,850
SqFt
Status
Active
MLS #
6702557
Property Type
Single Family Residence
Price Type
--
$135,000 Price Drop and another $30,000 in remodeling since listed! Rare Basement Mirador in Aviano, w/$225K+ of remodeling in 2023/2024 Incl. Kitchen Expansion, 2nd Flr Laundry, Tile, Master Suite, Upgraded Pavers, Added 2nd Garage Entrance w/Drop Zone. Dual Gone-With-The-Wind style staircases, 9, 10 & 20ft ceilings, dbl kitchen islands w/quartzite waterfall edge, stainless steel appliances, wine cooler & butler's pantry w/ 2nd sink, 2 add'l refrigerators & all-in-one W/D, office/den, 4 car garage, 1st floor in-law suite w/separate garage entry, heated pool, spa, nat. gas fireplace & built in BBQ. Movie theater, seats, and 98 & 82 in. smart TVs. Aviano Club/Community features heated resort pool/spa, fitness center, tennis, pickleball. greenspaces, walking trails and parks. EASY TO SEE.
6032 E Thunder Hawk Road
Cave Creek, AZ 85331
$1,960,000
4
Beds
3.5
Baths
4,105
SqFt
Status
Active
MLS #
6764985
Property Type
Single Family Residence
Price Type
--
Newly listed in popular Lone Mountain gated community - Experience luxury living in this UPDATED Kingsgate model, featuring a rare four-car garage with an EV charging station + epoxy floors, and side yard with RV gate. The versatile layout offers ensuite guest bedrooms, bonus/den, and a stylish office. The split primary suite is a retreat, complete with a spa-inspired bath and custom closet. The chef's kitchen boasts dual ovens, newer JennAir 6-burner range, and two pantries. Enjoy seamless indoor/outdoor living with a 16-foot retractable glass wall leading to your nearly half-acre private backyard oasis, surrounded by lush landscaping. Relax in the heated pool, unwind in the spa, or entertain with the built-in BBQ, turf area, putting green, firepit, and pergola. Many Recent Upgrades!
35348 N 87th Street
Scottsdale, AZ 85266
$1,955,000
5
Beds
3.5
Baths
3,982
SqFt
Status
Active
MLS #
6620672
Property Type
Single Family Residence
Price Type
--
Motivated sellers! Welcome to this luxurious listing in North Scottsdale! This small niche, gated community of 34 homes offers a feel of privacy & custom living. The neighbors are warm and friendly. This stunning 2019 ''smart'' contemporary 5 bedroom, 3.5 bathroom luxury features mountain views from multiple rooms.This luxury home is the last one built in this subdivision and features a split floor plan with the master and den on the north side of the home and secondary bedrooms on the south side of the home. Luxury is the name of the primary suite with first class oversized private room, shower and tub. The primary bathroom features dual flush options, floating cabinets with his and hers sinks. You will not be disappointed by the walk in closet. The primary suite has a private entry to the backyard. The second room in an ensuite with dual flush options. It has a brand new dedicated Mitsubishi AC unit and upgraded walk in shower with grab bars. The 3rd and 4th rooms feature a Jack and Jill bath with a spacious walk-in shower and dual flush options. There are walk in showers for all rooms with gorgeous finishes and tiled to the ceiling! Relish the meticulously maintained beautiful 8' real hardwood, a chef's dream kitchen with top of the line Thermador appliances (6 burner range, built in fridge and 70 bottle wine fridge), pot filler, water filtration with RO, soft close drawers/doors with under cabinet lightning, quartz counters with dramatic marble look island with waterfall edge. The kitchen has a walk in pantry with a breakfast area. Enjoy soaring ceilings in every room, with eclectic lighting and fans throughout the home. The home features a formal dining and a large open great room with fireplace. Impressive laundry room with a laundry sink and lots of cabinets for storage. The backyard is perfect for entertaining with lots of travertine pavers, a heated sparkling pool, heated/jetted hot tub, and built-in BBQ. The backyard sunset never gets old. You can control your front door, light switches, nest AC/heat, outdoor cameras, landscape irrigation, pool features and garage from your phone! 3 car garage features water filtration system, tankless water heater and EV charger. There is an additional 30 amp outlet for your RV or other electric toys. This luxury residence is waiting for you to call it home.
8436 N VÃa Linda --
Scottsdale, AZ 85258
$1,950,000
3
Beds
3.5
Baths
3,239
SqFt
Status
Active
MLS #
6758809
Property Type
Single Family Residence
Price Type
--
Magical opportunity in McCormick Ranch. This 3,200 sq. ft. home is situated on the McCormick ranch golf course with unobstructed views of the course, Camelback Mountain and incredible sunsets. Three bedrooms, den and 3 baths are all generous in size and flow beautifully, Being close to dining, Salt River fields and Old Town Scottsdale makes this home the perfect landing spot.
30927 N 117th Drive
Peoria, AZ 85383
$1,950,000
5
Beds
5
Baths
4,424
SqFt
Status
Active
MLS #
6786408
Property Type
Single Family Residence
Price Type
--
Nestled within the exclusive confines of Blackstone Country Club, this magnificent 4,424 square feet residence epitomizes luxury living in the heart of the desert. Its semi-custom desert contemporary architecture seamlessly blends with the surrounding landscape, offering a harmonious fusion of modern elegance and natural beauty. The main house boasts spacious interiors adorned with sleek lines and upscale finishes. An attached casita provides additional comfort and privacy for guests.PLUS, adjacent to the main residence, a detached guest house offers a tranquil retreat, ideal for extended stays or hosting gatherings. The centerpiece of the outdoor oasis is the resort-style pool, complete with a Baja shelf and a mesmerizing reverse negative edge that cascades into a tranquil fountain. Overlooking the pool area is a sunken fire pit, creating the perfect ambiance for alfresco entertaining or quiet relaxation under the starlit sky. This exceptional property represents the epitome of sophisticated desert living, where every detail has been meticulously curated to provide an unparalleled experience of luxury and serenity. Owner's retreat highlights a mirrored custom barn door to the elegant ensuite comprised of two vanities, a soaking tub, enclosed glass shower, and a walk-in closet. Wait, there's more! This gem also includes a fully equipped Casita for your guests! Spectacular resort-like backyard boasts mountain views, a covered patio, fire pit, gazebo with a built-in BBQ, artificial turf, and a sparkling pool & spa.
4678 N Bear Flat Road
Payson, AZ 85541
$1,950,000
6
Beds
4
Baths
4,378
SqFt
Status
Active
MLS #
6765214
Property Type
Single Family Residence
Price Type
--
Retreat on Tonto Creek. It was just a 700 SF cabin when Bill bought it in January 1973, but it sat high above Tonto Creek in a small enclave called Bear Flat. Over the years, Bill traveled the world as an executive in the hospitality industry, but no matter the exotic destinations he visited, he always returned to Bear Flat. Its allure, its remoteness, its peace, fulfills its residents. Once you've been to Bear Flat it enters your blood; you find yourself drawn to its beauty. Over the years, there were several additions. The great wall and steps down to the creek were built by Bill and his sons with stones gathered from the surrounding land. Today this retreat on Tonto Creek includes a large island kitchen, over 200 feet of view decking, a treehouse and over 700 square foot garage.
5141 N 35th Street
Phoenix, AZ 85018
$1,950,000
4
Beds
3
Baths
3,707
SqFt
Status
Active
MLS #
6762208
Property Type
Single Family Residence
Price Type
--
Updated Arcadia ranch style home in the sought after Biltmore Heights neighborhood on an oversized private corner cul-de-sac lot. Indoor/Outdoor living at its finest with a front courtyard to take in Arizona sunsets, great room living with french doors leading to the spacious backyard with artificial grass, heated pool, multiple patios, built in bbq, putting green, and views of sunrises to start your day. Open floor plan in the main living area with a great room for formal or informal gatherings, updated kitchen with breakfast bar, large Owners Suite with access to the pool, 3 guest bedrooms, 3 full baths, large laundry room/craft room, detached art studio or office, and air conditioned third car garage currently used as workout room. Brand new roof and newer HVAC units. Conveniently located to some of Phoenix's best restaurants, shopping, and the Arizona canal path.