Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

Whether You Rent or Buy, 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, however, 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 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 as opposed to 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 building 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 4.22% 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 to get started – J.P. Cook – 602-320-4253.

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7740 E Rose Lane Scottsdale, AZ 85250

$1,375,000
4 Beds
4 Baths
2,178 SqFt
Status Active
MLS # 6743935
Property Type Single Family Residence
Price Type --
Supreme location. Custom designed home. Fully remodeled. Elegant and elevated. A very rare find and the definition of luxury. No HOA. 4 bedrooms and 4 full baths. Brand new kitchen, Delta Terra quartz countertops, high end appliances, large custom hood. Soaring high ceilings. Smooth texture walls throughout. Large master bed and bath. Double laundry with one conveniently inside the master closet. New AC. Complete, resort style front and back yard. Smooth stucco exterior. Pristine large pool with tanning ledge, Baja shelf. A resort sanctuary of outdoor living. This is one unicorn of a home. Imagine yourself here!

3116 N 47th Street Phoenix, AZ 85018

$1,375,000 - 4Br/4Ba -  for Sale in El Coronado Estates Unit 2, Phoenix
Open House
$1,375,000
4 Beds
3.5 Baths
3,008 SqFt
Status Active
MLS # 6703562
Property Type Single Family Residence
Price Type --
Tucked away on one of the largest lots, 10,800 sq ft, in El Coronado Estates lies this charming quintessential 3000+ Arcadia Ranch built by modern builders and remodeled by well-known local contractor Don Matteson. The Gourmet Kitchen has a commercial grade gas stove top, luxurious custom cabinets and oversized island which opens to cozy family room & dining room designed to look like her previous Calle Del Norte house. It is Perfect for entertaining & family gatherings. There are 4 spacious beds, 3.5baths, laundry room & storage one only dreams about. Imagine having coffee or a glass of wine on one of the many patios in the enchanting lushly landscaped grounds with arbors & English gardens. Top rated Arcadia Schools. This amazing neighborhood with cul de sac lots has a community pool!

10154 E Happy Hollow Drive Scottsdale, AZ 85262

$1,375,000 - 4Br/4Ba -  for Sale in Estates At Cave Creek, Scottsdale
Open House
$1,375,000
4 Beds
3.5 Baths
3,798 SqFt
Status Active
MLS # 6756125
Property Type Single Family Residence
Price Type --
Nestled on a pristine acre of Sonoran Desert land, this exceptional residence offers captivating mountain and sunset views that perfectly embody the essence of Arizona living. Located in the coveted gated community of Cresta Norte, this well-maintained home by its original owner exudes both elegance and comfort. Boasting 4 spacious bedrooms, 3.5 bathrooms, and a versatile layout that includes two flexible office spaces, this home is designed for both luxury and practicality. The updated open kitchen, adjacent to the family room and informal dining area, features modern finishes and seamlessly flows into the living spaces. A formal dining room and inviting living room create an ideal setting for both intimate family moments and larger gatherings. (Continued ) Step outside into the meticulously designed outdoor oasis, where two covered patios offer shaded areas to relax, while a sparkling pool and two tranquil fountains provide a serene ambiance. A stone-surfaced pergola completes the outdoor entertaining space, perfect for enjoying the breathtaking Arizona sunsets. The north/south exposure ensures optimal light and comfort throughout the day. Inside, recent upgrades include a freshly painted interior and an updated master bathroom, adding a touch of modern luxury to this timeless desert retreat. Tile and wood floors flow throughout the home, enhancing its warm, sophisticated appeal. The residence also includes a detached casita, ideal for guests or additional workspace, and a 3-car garage for ample storage. Cresta Norte offers residents access to tennis and pickleball courts, a neighborhood park, and unparalleled serenity, all within the embrace of the natural desert surroundings. This is more than just a homeit's a private sanctuary in one of Scottsdale's most exclusive neighborhoods.

900 E Peach Tree Place Chandler, AZ 85249

$1,375,000 - 4Br/4Ba -  for Sale in Mission Estates, Chandler
Open House
$1,375,000
4 Beds
3.5 Baths
3,754 SqFt
Status Active
MLS # 6725095
Property Type Single Family Residence
Price Type --
Nestled in the small, exclusive gated community of Mission Estates, this exquisite home is the perfect setting for both indoor and outdoor living and entertaining. Entering thru the private courtyard into the home, you are greeted with an impressive wall to wall slider providing a view of the newly renovated backyard, exhibiting an abundance of natural lighting. The lofty 12 foot ceilings amplify the sense of space and luxury showcasing the natural wood flooring and custom designed wainscoting all adding to the feel of luxury living. The heavily upgraded chef's kitchen includes a large island, custom cutout for ample stainless steel fridge and freezer, double ovens, farmhouse sink, sizable walk in pantry and spacious butler's kitchen. The primary suite features an elegant chandelier, separate his and her closets customized by California Closets for floor-to-ceiling organization and an oversized luxe bathroom with a private expansive shower. This home has 4 bedrooms, including a built in Murphy's bed and storage in guest room and an intimate gym with newly padded flooring. Additional game room has plenty of flexibility to customize the space to suit your needs, whether it be a cozy media room, craft room, playroom for the kids or a private retreat for guests. Substantial 3 car garage encompasses additional overhead storage. The private outdoor retreat embraces an impressive backyard with a built in BBQ, fire pit, half court sports area, expansive turf play area & multiple seating spaces creating an ideal environment for both everyday living and entertaining guests. This premium north/south facing home on a large (nearly 1/3 acre) lot allows for both privacy and tranquility offering the perfect backyard brimming with family appeal and balance of location & Arizona lifestyle.

37018 N Tree Lined Trail Carefree, AZ 85377

$1,375,000 - 4Br/3Ba -  for Sale in Carefree Rolling Hills Unit 1, Carefree
Open House
$1,375,000
4 Beds
3 Baths
3,721 SqFt
Status Active
MLS # 6754507
Property Type Single Family Residence
Price Type --
: Walk through the gated courtyard into this Mediterranean inspired home that sits on over an acre. This gorgeous home is perfect for multi-generation living or simply pampering your guests with complete privacy and their own separate entrance from the courtyard. Each of bedrooms are ensuite. you will enjoy fireplaces in two of the primary suites. The wall of windows opens to an entertainer's paradise with incredible mountain and amazing city light views Enjoy the peacefulness, privacy & beauty of the lushly landscaped grounds. From this vantage point you will enjoy breathtaking Arizona sunsets! The bench-height pool offers additional seating for your guests. The kitchen is a gourmet cook's delight, beautiful custom cabinetry, refrigerator, dishwasher and microwave oven, A wall of glass opens to panoramic mountain and city light views, creating an entertainers haven. Revel in the tranquility of lush landscaping and Arizona sunsets from the bench-height pool.The gourmet kitchen is a showstopper with custom cabinetry, a walk-in pantry, and direct garage access. With travertine flooring throughout(except in two carpeted bedrooms). Meticulous attentions has been given to littlest detail with recent roof, exterior paint and epoxy coating for the garage floor. This property is truly unique.

1155 E Fillmore Street Phoenix, AZ 85006

$1,374,000
3 Beds
2.5 Baths
3,660 SqFt
Status Active
MLS # 6747184
Property Type Single Family Residence
Price Type --
An incredibly unique opportunity to invest in and/or live in the Garfield district of Phoenix! A brand new custom home, to be sold with another home MLS# 6130207 on the same lot, resulting in multiple buyer options. Investors can expect estimated rents in the range of $5500-$6000 per month. The attached garage accessed via an electric gate is not available in most of the historic homes! This 3 Bedroom/2.5 Bath home is finished with custom cabinetry in the kitchen along with an 'eat at island', quartz counter tops, stainless steel appliances, ceiling fans and is rated for high energy efficiency. The bathrooms and powder rooms have floating custom vanities. Soft Water Loop... The master bedrooms are downstairs with walk-in closets and boast luxury jetted showers and bathtubs. Two additional bedrooms and the laundry room are on the second floor, with views of downtown. The finishes are worthy of luxury high end homes. The highly desirable Garfield district affords easy access, walking distance to Phoenix's downtown offering of entertainment, sports, leisure, restaurants bars, ASU, U of A, Mayo, Genomics.

20478 E Marsh Road Queen Creek, AZ 85142

$1,370,995
5 Beds
4.5 Baths
4,004 SqFt
Status Active
MLS # 6766178
Property Type Single Family Residence
Price Type --
Spectacular open floor plan with attached casita! An oversized pantry and expansive kitchen island create an entertainer's paradise! The soaring ceilings in the kitchen and great room are open and airy, taking you right out to your generous back yard through stacking multi-slide doors! This large North-South home site is perfect to capture the coveted Arizona indoor/outdoor lifestyle!

7113 E Mcdonald Drive Paradise Valley, AZ 85253

$1,370,000
2 Beds
2 Baths
1,830 SqFt
Status Active
MLS # 6707837
Property Type Townhouse
Price Type --
Welcome to your dream home in the heart of Paradise Valley! This newly renovated townhome with new custom designer flooring and baseboards in the prestigious Villa Serena community offers an unparalleled blend of luxury, comfort, and modern living. Boasting 2 spacious bedrooms plus a den and 2 beautifully appointed bathrooms, this home is perfect for those seeking a serene and sophisticated lifestyle. Step inside to discover a stunning open-concept floor bathed in natural light, high ceilings, with large windows to enjoy the lush landscaping. The brand-new gourmet kitchen features top-of-the-line stainless steel appliances, including Wolf gas cooktop, quartz countertops, and custom contemporary cabinetry, making it a chef's paradise. The adjoining dining and living areas flow seamlessly, ideal for entertaining guests. Relax in the inviting den that looks on to the patio with large new sliders and plenty of room for a desk. The luxurious master suite is a private retreat complete with an en-suite bathroom featuring a dual vanity, shower, and walk-in closet. The additional bedroom offers ample space next to a fully renovated bathroom with modern fixtures and finishes. Enjoy Arizona's beautiful weather on your private patio, perfect for morning coffee or evening relaxation. This home also includes a two-car garage, providing convenience and additional storage. Villa Serena is known for its lush landscaping, tranquil ambiance, and exceptional amenities. Residents enjoy access to a sparkling community pool, spa, fitness center, and clubhouse, all within a secure environment. Located in the heart of Paradise Valley, you are minutes away from the new Ritz Carlton Resort Hotel, world-class dining, shopping, golf courses, and hiking trails.

2304 E Blue Bell Circle Payson, AZ 85541

$1,370,000
4 Beds
4 Baths
3,842 SqFt
Status Active
MLS # 6744402
Property Type Single Family Residence
Price Type --
*Please view the video tour, 3D walk-though tour and documents to see all this home has to offer* Welcome to your dream home in the beautiful guard gated community of Chaparral Pines Golf Country Club. This stunning residence exudes luxury, function and comfort, offering an impressive array of updates and features that cater to your every need. As you enter the main level, you are welcomed into a spacious and open living area. The living room, dining room, and kitchen are thoughtfully connected, creating a harmonious flow that is perfect for entertaining. The natural light floods in through windows with cellular shades, highlighting the elegance of the gas fireplace and creating a warm, welcoming atmosphere. The primary suite on the main level is a true sanctuary with its expansive seating area, sliding door access to the deck, and walk-in closet. The en-suite bathroom featuring a large shower with dual shower heads and body jets, a built-in tub, dual vanities with a makeup area and ample linen storage. On the opposite side of the main floor, a guest room offers privacy and comfort, complete with direct access to a bathroom that also serves the hall and access to the deck. The laundry room is designed for convenience with a utility sink, countertop space and storage, leading directly to the 2-car garage, golf cart garage and workshop, all with epoxy flooring. Venture to the lower level to discover a spacious setup, perfect for guests, extended family and entertaining. This level features a comfortable guest room with direct access to a bathroom also acting as guest bathroom and an oversized guest suite with an ensuite bathroom plus generous seating area. The office is thoughtfully equipped with two built-in desks, functional storage including a closet making it ideal for working from home. The kitchenette, with a fridge/freezer, dishwasher, sink, and microwave, provides everything you need for relaxed living. A sliding door opens to the patio, where an above-ground spa invites you to unwind. Situated on a large corner lot between two cul-de-sacs, this home offers views of the mountains and the golf course from the upper deck. Please view documents tab for a list of all improvements and additional information. This exceptional home in Chaparral Pines is more than just a place to live; it's a lifestyle. Experience the elegance, comfort, and community this remarkable property offers. Don't miss the opportunity to make it yours! *Owner had a pre-listing inspection completed and are happy to provide that information.

3109 E Sports Court Gilbert, AZ 85298

$1,370,000
4 Beds
3.5 Baths
4,412 SqFt
Status Active Under Contract
MLS # 6754022
Property Type Single Family Residence
Price Type --
Introducing this stunning luxury home in the highly desirable Seville neighborhood, where elegance and modern upgrades meet resort-style living. Step inside to experience luxury upgrades throughout, including a sleek, modern white kitchen featuring quartz countertops, pull-out cabinets, a custom coffee bar, and charming barn doors. Outdoors, escape to your private resort-style backyard oasis. Take a dip in the heated pool, unwind in the spa, or enjoy the sunken Ramada complete with a built-in grill and swim-up bar. The space also includes a basketball court, a golf simulator with a putting green, and plenty of outdoor entertainment. For the sports enthusiast, a dedicated workout space with gym machines and weights ensures you can maintain your fitness regimen from home. The wine connoisseur will love the custom wine room, perfect for storing and displaying your collection. For entertainment, the five-TV theater room, which includes a pool table, a bar with two built-in fridges, and a three-tap keg, is the perfect space to gather with family and friends. Recently upgraded front yard landscaping, featuring gorgeous palm trees and low-maintenance artificial turf, offers beautiful curb appeal year-round. This home is a rare find with extensive outdoor amenities, offering the perfect blend of luxury, convenience, and relaxation. Don't miss your chance to own this dream home!

2845 S Sexton Ranch Road Cornville, AZ 86325

$1,365,000
4 Beds
3.5 Baths
3,306 SqFt
Status Active Under Contract
MLS # 6763920
Property Type Single Family Residence
Price Type --
Stunning 2016 four bedroom ranch farmhouse on 4.95 acres in Northern Arizona's 'wine country', featuring creek property with water rights and turn-key availability with designer furnishings and John Deer tractor sold separately. Includes a metal roof with warranty, a red barn perfect for a workshop or storage, and a cold cellar ideal for wine or fruit. The home boasts an upstairs loft and spacious recreation room with a bathroom and ample room for additional sleeping. Enjoy beautiful fruit trees, equestrian-ready grounds, and no HOA, offering ultimate freedom and privacy. This exclusive property attracts those seeking a serene, tourist-free versatile country lifestyle. A great property for a few horses or small farm. Less than 20 minute drive to Sedona. More info available in MLS listing. Many recent upgrades including a 75-gal H2O heater, new sauna, gutters, dog washing room, new interior paint, new bedroom added, new water softener, new dog yard; new lighting and more, with a new outdoor patio deck coming.

2190 E Nolan Place Chandler, AZ 85249

$1,361,587
4 Beds
3.5 Baths
3,610 SqFt
Status Active
MLS # 6755382
Property Type Single Family Residence
Price Type --
Quick Move-in Ready Home! McKinley Glenn is an intimate gated enclave of luxury single-level homes offering modern home designs by Cachet Homes. This Aspire Plan 1 is situated on a North/South lot and features 3,610 SF, 4 bedrooms, 3.5 baths, a 4-car garage, den, and an open-concept kitchen with two large islands and quartz countertops. Additional upgrades include desert front yard landscaping, Shaker Maple painted and stained cabinets, luxury vinyl plank wood look floors, and more!

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