Renting or Buying… Either Way You’re Paying a Mortgage

Renting or Buying… Either Way You’re Paying a Mortgage | Simplifying The Market

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.23% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.  Give me a call for a no-cost, no-obligation consultation about learning the process of buying your own home – J.P. Cook – 602-320-4253.

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4489 N Ocotillo Road Benson, AZ 85602

$2,250,000
5 Beds
4 Baths
3,600 SqFt
Status Active
MLS # 6746660
Property Type Single Family Residence
Price Type --
With irrigated pastures, barns, multiple homes, and the San Pedro River this property is one of a kind. This ranch has 55 acres of irrigated pasture and a 900 gpm irrigation well. Along with two horse barns, shop, clinic, hay storage, working corrals, tack rooms, feed rooms, and more. The ranch is the perfect place to raise cattle or horses in privacy. The 2400 sf home, 1200 sf ranch mangers home, and barn with office/apartment it provides space for all your crew or guests. Just 22 miles from Benson this location is great for expanding your livestock operation. Three domestic wells, a large irrigation well, and a pond supply water to the acreage. This location has an amazing water table and would make a perfect place to grow any crop or raise feed. A 350 acre private lease also available.

14216 S Canyon Drive Phoenix, AZ 85048

$2,250,000
5 Beds
5 Baths
5,561 SqFt
Status Active
MLS # 6751901
Property Type Single Family Residence
Price Type --
Custom estate sitting on nearly 2.5 acres in the prestigious of gated Canyon Reserve community. Stunning mountain views surround the main and guest house on this quiet cul-de-sac. Greeted with high ceilings, arched entryways, travertine floors, and large windows to provide natural lighting in the formal dining, great room with gas fireplace, and office/den with built-in floor to ceiling bookshelves. Chef's kitchen includes stainless steel appliances, kitchen island with additional sink, pantry, and eat-in kitchen. Primary suite includes built-in shelves, fireplace, private seating area, dual sink vanities, oversized shower, separate bathtub, and walk-in custom closet. Entertain family and friends in the backyard's custom pool/spa with expanded pool deck, covered patio, outdoor TV setup, built in BBQ, and exterior fireplace while enjoying your private mountain views and desert landscaping. Additional home features include a 3-car garage and guest house with mini kitchen and full bath. Located near your favorite Ahwatukee hiking, golf, and dining!

10141 N Mcdowell View Trail Fountain Hills, AZ 85268

$2,250,000
3 Beds
4 Baths
4,479 SqFt
Status Active
MLS # 6771738
Property Type Single Family Residence
Price Type --
A beautiful Fire Rock CC home priced to sell with furniture and finishes included.This well appointed home sets on over an acre and is move in ready.Majestic mountain views and city lights are undeniable through large picture framed windows.Vibrant views of the golf course are also present throughout the home and while enjoying numerous outdoor patios.A designer kitchen with timeless granite countertops with bar and a floor to ceiling Cantera fireplace showcase the great room.The split master suite has it all with mountain and sunset views, privacy, access to the pool/spa and separate study.Pride of ownership shows with many updated systems including the theatre room and backyard pool area with fountains and a rocking Sonos/Pioneer sound system. Live and enjoy the FireRock CC lifestyle!!!

4822 E Flower Street Phoenix, AZ 85018

$2,250,000
4 Beds
3.5 Baths
3,033 SqFt
Status Active Under Contract
MLS # 6759791
Property Type Single Family Residence
Price Type --
Stunning ranch style renovation/ new build in one of Arcadia's most coveted neighborhoods! Great room w/ vaulted ceilings, custom beams and 2 sets of sliding doors for indoor/ outdoor living. New Andersen windows, European Oak wood floors & custom millwork t/o. Gourmet kitchen w/ quartz island, custom cabinetry, 48'' dual fuel range, leathered granite counters. Beautiful large butler's pantry w/ powder room. Separate media room/ den. Split floor plan w/ formal office and 3 bedrooms/ 2 baths in separate wing. Primary suite w/ vaulted ceilings and sliding doors to covered patio, marble oversized shower and custom walk-in closet. Backyard w/ covered patio & Belgard pavers, plenty of room for pool, Camelback mtn views. New plumbing, electrical, sewer lines, gas lines & 3 new HVAC units.

9452 E Heritage Trail Drive Scottsdale, AZ 85255

$2,250,000
3 Beds
2.5 Baths
3,252 SqFt
Status Active Under Contract
MLS # 6766268
Property Type Single Family Residence
Price Type --
Exquisitely Remodeled Single Level DC RANCH Home in (Gated) Desert Haciendas. Rare find that does not come on the market often! Luxuriously Upgraded with Custom Designer Finishes. 3bed, 2.5bath, Den/Media, 3-Car, Soaring 20''ft ceiling w/ Wood Beams, White Oak Hardwood floors, Amazing Gourmet Kitchen, Expansive quartz island, w/Custom Cabinetry, WOLF Range, Newer 48'' SUBZERO, New BOSCH DW, Wine bar, Butler's Pantry! Spa Primary Suite , Marble Shower, Rift wood custom cabinets, w/Custom Double M-Closet w/Built-ins and French door to Backyard Paradise. Enjoy the double French Doors that open to the Courtyard w/ Fireplace. Outdoor areas w/ incredible Stone Finishes, Pool & Raised Spa, Fireplace & Pergola...a ton of Architectural details throughout! Check out this Very Special Home!

12785 N 135th Street Scottsdale, AZ 85259

$2,250,000
3 Beds
2.5 Baths
3,431 SqFt
Status Active Under Contract
MLS # 6781211
Property Type Single Family Residence
Price Type --
Welcome to an exquisite luxury estate in the esteemed guard-gated community of Scottsdale Mountain. This privately gated property offers a harmonious blend of soft contemporary design, rustic stone accents, and modern lighting, creating an inviting and elegant ambiance. Perched high on an expansive hillside lot, the estate promises breathtaking panoramic views. Inside, every room is a masterpiece of refinement and detail. The gourmet kitchen is every chef's dream with three SubZero units - fridge, freezer, and wine fridge - alongside a built-in Miele coffee center. The spacious island is the ideal gathering spot for family and friends, while the sleek 5-burner induction cooktop adds to the home's contemporary aesthetic. Retreat to your luxurious owner's suite and indulge in breathtaking sunsets or savor your morning coffee with panoramic views from every window. The owner's bath is truly spa-like, boasting modern floating vanities, a massive walk-in shower, and a soaking tub - perfect for unwinding after a long day. Complete with an oversized walk-in closet, the space offers ample storage space that is highlighted by designer lighting. Designed for both relaxation and entertainment, the backyard features a low-maintenance paradise with silver travertine pavers, lush turf, an outdoor kitchen, a ramada, and LED accent lighting. Watch sunsets light up the mountains to the north and take in incredible 180-degree panoramic cityscapes to the south. This expansive lot is also surrounded by Natural Area Open Space (NAOS) to the east, ensuring no neighboring developments disrupt the tranquility. Discover the ultimate luxury living experience at Scottsdale Mountain, where breathtaking views and an active lifestyle converge. This community embodies the quintessential Arizona lifestyle with easy access to a myriad of outdoor activities. Enjoy pickleball, tennis, basketball, and neighborhood events all within the community's gates. Or venture out for a vibrant array of local attractions, including golf, hiking, mountain biking, and horseback riding. With the Lost Dog and Sunrise Trailheads into the McDowell Sonoran Preserve located just outside the community gates, you're just minutes from exceptional scenery and an active lifestyle. Don't miss out on this opportunity to live in one of Scottsdale's most coveted communities, surrounded by natural beauty, while still being close to all that this vibrant city has to offer. Come see why this is more than just a house - it's an experience you won't want to miss!

8049 E Via Sierra -- Scottsdale, AZ 85258

$2,250,000
4 Beds
3 Baths
2,539 SqFt
Status Active
MLS # 6781460
Property Type Single Family Residence
Price Type --
Stunning golf course property with picturesque lakes and the McDowell Mountains in the backdrop. This fully renovated home has it all: a spacious gourmet kitchen featuring a high-end appliances, wine bar and coffee station. The home boasts four bedrooms, including a luxurious master suite, and three beautifully designed bathrooms. Elegant hardwood and marble floors flow seamlessly throughout. Enjoy outdoor living with a private pool, or relax and take in the charm of your neighborhood from the comfort of the front patio. Ample parking space can be added in the front. Ideally located for those who love outdoor activities, dining, and coffee shops, this home is perfectly situated. An exceptional home, designed with unparalleled taste.

2304 Fox Tail Trail Carefree, AZ 85377

$2,250,000
3 Beds
3.5 Baths
4,202 SqFt
Status Active
MLS # 6780112
Property Type Single Family Residence
Price Type --
Desert Oasis: A Custom-Crafted Treasure: Experience the pinnacle of desert living in this exquisite, custom-designed home showcasing spectacular views of Black Mountain and the shimmering city lights. This meticulously appointed residence features 3 bedrooms, 3 ½ baths, and a built-in office, skillfully crafted by the esteemed architect Terry Kilbane. With its adobe style exterior walls, authentic fireplaces, and unique architectural elements, this home is truly one-of-a-kind. Set on two generous lots that back onto NAOS for added privacy and serenity, recent enhancements include a fresh stucco finish and new paint, complemented by elegant brick flooring throughout. Step inside to discover the inviting warmth of hardwood floors, the sophistication of custom wood doors and cabinetry,

4007 E Montecito Avenue Phoenix, AZ 85018

$2,250,000
5 Beds
4.5 Baths
3,545 SqFt
Status Active
MLS # 6712091
Property Type Single Family Residence
Price Type --
Wow! Discover the unparalleled beauty & exquisite craftsmanship of this 5-bedroom new construction in Suncrest Gardens! This 2023 Thomas James home offers over 3,000 SqFt of exceptional luxury with an impressive open floor design & high-end details. Heated pool with fountains and light settings all easily controlled through an app. Tall ceilings, recessed lighting, wood flooring, abundant natural light, and multi-sliding glass doors are features found throughout. The living room has a textured accent wall with a mounted fireplace. Elegance & modernity seamlessly mix in this magazine-cover white kitchen showcasing stacked shaker cabinetry, herringbone tile backsplash, lavish quartz counters, a massive island with w/breakfast bar, and state-of-the-art stainless steel appliances. The bright owner's suite is split & comes with a pristine ensuite comprised of two vanity sinks, a freestanding tub, an oversized walk-in shower with bench, and a walk-in closet. Secondary bedrooms on the main floor share a Jack & Jill bathroom. Upstairs, you'll find a sizable loft and a second primary bedroom with walk-in closet & an immaculate bathroom with a dual vanity & separate tub/shower. The stunning backyard boasts a covered patio, a pebble-tec pool, lush greenery, and an outdoor shower with travertine stone. This beauty has an excellent location with Camelback Mtn. Views, within minutes from restaurants & shopping, and close to major roads. Words don't make this modern farmhouse gem justice. You must see it!

9327 W Vereda Solana Drive Peoria, AZ 85383

$2,250,000
7 Beds
6 Baths
7,091 SqFt
Status Active
MLS # 6724854
Property Type Single Family Residence
Price Type --
This stunning Santa Fe-style north Peoria property, nestled on a serene 1.1-acre lot on a private cul-de-sac, boasts breathtaking mountain views & a host of premium features! The large main house features Energy-efficient solar panels, large 3-car garage & RV gate. Discover the large great room & gourmet kitchen, with plantation shutters & pre-wired surround sound throughout the home. The generous owner's suite offers direct access to the backyard & a luxurious bathroom. A den, teen/Bonus room and 3 large bedrooms make this the perfect family retreat. Outside you will find a sparking pool, putting green, batting cage, grill/outdoor kitchen and sprawling yard perfect for hosting and gathering. The large 3bed/2ba casita with separate entrance and private garage is perfect for extended famil The oversized backyard is an entertainer's dream, featuring a refreshing pool, a covered patio, & putting green for golf enthusiasts. A detached guest house provides additional living space, ample bedrooms, & a fully equipped kitchen, making it perfect for visitors or extended family. This residence is more than a home; it's a lifestyle!

7056 E Mighty Saguaro Way Scottsdale, AZ 85266

$2,250,000
3 Beds
2.5 Baths
2,600 SqFt
Status Active
MLS # 6760321
Property Type Single Family Residence
Price Type --
Prepare to be amazed by this one-of-a-kind, custom-rebuilt masterpiece! Completely reimagined with the finest luxurious materials and designer finishes, this home is a true gem unlike anything else Terravita has ever seen! From the moment you step onto the meticulously landscaped entry and pass through the stunning iron front door, you'll know you've found something special. This property feels like a brand-new home thanks to an extensive transformative rebuild, which included expanding rooms, removing walls, and adding entirely new spaces. The gourmet kitchen is a chef's dream, boasting a 6-burner Wolf stove, Wolf microwave, Sub-Zero column refrigerator/freezer, dual-zone wine chiller, Cove dishwasher, stunning quartzite island/dining table that comfortably seats up to 10. Custom cabinetry of the highest quality and a chic wet bar add convenience and elegance. The gorgeous primary suite boasts a rockstar worthy custom closet by Elevation Closets, easily convertible back to a bedroom if needed. Guests will be pampered in their own private two-room suite with a separate entrance. The north facing backyard provides ultimate privacy, where you can relax in your Pebble Tec pool. Please see the document section to view the extent of the rebuild and the specific top-tier finishes and features. This is an unparalleled opportunity for discerning buyers who value quality and desire the ease of moving into a show-stopping, like-new home in a world-class resort community with readily available memberships. Live the luxury lifestyle you've been waiting for without the wait!

3510 E Claremont Avenue Paradise Valley, AZ 85253

$2,250,000
6 Beds
4 Baths
3,718 SqFt
Status Active Under Contract
MLS # 6707201
Property Type Single Family Residence
Price Type --
Nestled in the tranquil back of a cul-de-sac within the prestigious Mirada Los Arcos subdivision of Paradise Valley, this extraordinary property offers breathtaking mountain views in multiple directions. Its prime location places you close to the finest amenities that Paradise Valley, Scottsdale, and Phoenix have to offer, including the scenic Phoenix Mountain Preserve trails, an array of popular restaurants, boutique shops, and top-rated public and private schools. The expansive lot tucked into the back of a gorgeous cul-de-sac provides the perfect opportunity to build your dream home, creating a custom living space that takes full advantage of the stunning natural surroundings. This one-of-a-kind property combines a prime location, stunning views, and exceptional potential. This is an unparalleled opportunity to create a luxurious and personalized living environment in one of the most desirable areas of Paradise Valley.

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