Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

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There are some people who have not purchased homes yet 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 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 3.94% last week.

Check out these open houses this weekend:

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114 Liverpool Drive Madison, AL 35758

$210,000 - 3Br/2Ba -  for Sale in Buckingham, Madison
Open House
New
$210,000
3 Beds
2 Baths
2,078 SqFt
Status Active
MLS # 1098772
Property Type Single Family Detached
Located in the heart of MADISON CITY this pristine 3 bed 2 bath full brick home has fantastic living space - indoors & out! Gracious floor plan offers vaulted ceiling living room with fireplace, updated kitchen with QUARTZ counter tops, breakfast area, formal dining room & study. Heavy crown molding with tray ceilings in master & dining. Isolated master with dual vanity en-suite & dual walk-ins. Fantastic backyard with extended stamped concrete patio & privacy fence. Perfect for a BBQ, game of catch, or just relaxing. Walking distance to neighborhood park & Columbia Elem. Great Curb Appeal! Minutes from shopping, Madison Hospital & I-565. Call to see before the Under Contract sign goes up!

830 Crestview Drive Madison, AL 35758

$205,000 - 3Br/3Ba -  for Sale in Crestview Estates, Madison
Open House
New
$205,000
3 Beds
2.5 Baths
1,910 SqFt
Status Active
MLS # 1098878
Property Type Single Family Detached
OPEN HOUSE SAT 7/22 & SUN 7/23 2:00 - 4:00**Great opportunity for a full brick home with side entry two car garage on an over sized lot on a cul-de-sac street in the heart of Madison walking distance to Dublin park. Beautifully updated with new carpet, paint and appliances. Three bedrooms and 2.5 bathrooms. Main floor has wood floors in the spacious Living Room, updated Kitchen with granite, and Dining Room. Dining Room provides access to the deck overlooking the fully fenced backyard. Family Room opens out to patio as well. Three bedrooms up with two full bathrooms. Master Bathroom boasts double vanity, tile shower and soaking tub. Don't miss out on this wonderful Madison City home!

2222 Towne Park Drive Huntsville, AL 35803

$315,000 - 4Br/4Ba -  for Sale in Renaissance, Huntsville
Open House
New
$315,000
4 Beds
3.5 Baths
2,820 SqFt
Status Active
MLS # 1098908
Property Type Single Family Detached
Beautiful one owner full brick home! This Jeff Benton home has been freshly painted throughout. You will love love this sprawling one story home with 4 bedrooms and 4 bathrooms. The master is isolated with double vanities, separate shower and tub and a large walk in closet! Large kitchen with ample storage, granite countertops and tile backsplash. The family room offers a gas log fireplace and crown molding. Large breakfast room plus formal dining room. Outside you will enjoy the covered patio and privacy fenced yard. Call today for your private showing!

131 Victoria Drive Madison, AL 35758

$250,000 - 4Br/3Ba -  for Sale in Victoria, Madison
Open House
New
$250,000
4 Beds
3 Baths
2,644 SqFt
Status Active
MLS # 1098753
Property Type Single Family Detached
Great location in Madison, this 2644 square foot home is in an established neighborhood. With 3 bedrooms downstairs plus 2 full baths. Upstairs, you will find a large loft area, bonus room, the 4th bedroom and full bath. Seller has replaced all flooring with laminate for easy care and cleaning. The kitchen has newer granite counters and stainless steel appliances with a spacious breakfast room. The great room wall has been opened up to the foyer and dining room for a nice open feel. You will love the lot size with mature trees and a private back yard. Roof and HVAC are less than 4 years old.

108 Wesley Clark Boulevard Madison, AL 35756

$470,000 - 5Br/5Ba -  for Sale in Taylors Crossing, Madison
Open House
New
$470,000
5 Beds
4.5 Baths
4,720 SqFt
Status Active
MLS # 1098678
Property Type Single Family Detached
Move in ready!Great location, excellent condition and priced to sell. There are many outstanding features in this home from casual living to formal entertaining it has it all. You'll enjoy relaxing in the b'ful sunroom. The kitchen has granite counters and stainless steel appliances with adjoining breakfast area that opens to the great room with fireplace. The master retreat has new carpet and a large glamour bath and huge dream closet. Also 4 other spacious bedrooms, 5 baths, bonus room & study. A nice bedroom suite with full bath on first floor. Plus 3-car garage & fenced back yard with mature trees.

14000 Sawyer Circle Sw Huntsville, AL 35803

$177,900 - 4Br/2Ba -  for Sale in Autumn Ridge, Huntsville
Open House
$177,900
4 Beds
2 Baths
2,356 SqFt
Status Active
MLS # 1098615
Property Type Single Family Detached
Great open concept SE home offers tons of room to grow. Kitchen was completely remodeled in 2015 with custom cabinetry and granite counters. Master suite has large bathroom with soaker tub and attached sitting room could be used as an office or nursery. Fully fenced backyard, located on a circle.

102 Greymont Drive Madison, AL 35757

$300,000 - 3Br/3Ba -  for Sale in The Ridge Of Kellywoods, Madison
Open House
$300,000
3 Beds
2.5 Baths
2,703 SqFt
Status Active
MLS # 1098623
Property Type Single Family Detached
Beautiful quality-built, custom home with brand-new paint throughout. This home has been meticulously kept and is move-in ready! 9' to 12' ceilings throughout, with heavy crown molding. The spacious entry foyer is very unique, and features a gorgeous central rotunda. Open kitchen has hardwood floors, large island with vegetable sink, and Corian counters. It overlooks the breakfast and Great Rooms, which have windows looking out to the covered porch and sparkling in-ground pool. Large isolated master suite, glamour bath with 2 walk-in closets, dual sinks and knee space. Oversized side-entry 2-car garage with 6' wide service door to the rear. Excellent opportunity to own in The Ridge!

300 Cliftworth Place Madison, AL 35758

$929,000 - 5Br/6Ba -  for Sale in Clifts Cove, Madison
Open House
$929,000
5 Beds
5.5 Baths
7,400 SqFt
Status Active
MLS # 1098596
Property Type Single Family Detached
First time listed, beautiful custom built home located just across from the Club House. Design elements include a two-story leaded glass door and window in the foyer and hearth room with 20' ceiling just off the kitchen. The kitchen features Wolf appliances, double ovens, warming tray, pot filler, and built-in Subzero frig. Main floor master suite. Upstairs features 3 bedrooms (each with its own full bath), a den, and a study with floor to ceiling bookcases. Downstairs includes another master suite, media room, rec room, TWO wood paneled offices and a full size sauna. Fresh paint and refinished hardwood flooring. Large lot with beautiful landscaping and wooded, private backyard.

7041 Camrose Lane Nw Huntsville, AL 35806

$249,900 - 4Br/2Ba -  for Sale in Ashton Springs, Huntsville
Open House
$249,900
4 Beds
2 Baths
2,712 SqFt
Status Active
MLS # 1098451
Property Type Single Family Detached
4Bd/3Bt with Large Bonus/Media room with over 2700 SqFt of living area in Immaculate Condition. Luxury living with an affordable price - Coffered Ceilings, Grand Foyer, Large walk-In Closets, Wood Floors, Chefs Kitchen, Covered Patio, Huge MBR/MBT with 2nd story deck, extensive professional landscaping. Move in ready with Many upgrades throughout and lots of storage. Convenient to Shopping, Arsenal, Providence. Be sure to check out the CILLC Virtual Realty Tour for a 3D fully immersive real estate experience of your next home! https://my.matterport.com/show/?m=RoJgRHsJXTc&brand=0

232 Bent Oak Circle Harvest, AL 35749

$200,000 - 4Br/2Ba -  for Sale in Tammys Place, Harvest
Open House
$200,000
4 Beds
2 Baths
2,024 SqFt
Status Active
MLS # 1098526
Property Type Single Family Detached
NATURE LOVER -BEAUTIFULLY PRIVATE BACKYARD, 4 BEDRM, ALL HARDWOOD & CERAMIC TILE! STAINLESS STEEL APPLIANCES! IF YOU DON'T MIND A LITTLE WORK, THIS IS A GREAT FIXER-UPPER! NEEDS PAINT INSIDE AND OTHER ITEMS NEED WORK. GARAGE WAS BEING CONVERTED. TO BE SOLD AS IS SELLER UNABLE TO MAKE ANY REPAIRS. HOME HAS BEEN CLEANED INSIDE AND READY FOR YOU TO ADD THE TLC! CALL TO SCHEDULE AN APPOINTMENT TODAY!

103 Nettles Drive Nw Madison, AL 35757

$326,000 - 5Br/4Ba -  for Sale in Stonegate, Madison
Open House
$326,000
5 Beds
3.5 Baths
3,547 SqFt
Status Active
MLS # 1097607
Property Type Single Family Detached
Well maintained and spacious 3500 sqft 5bdrm/4 ba open floor plan in cul-de-sac with wood floors and soaring ceilings throughout living areas, foyer, and dining. Tile in wet areas. Living Room/study and hearth room with double sided fireplace. Upstairs has 1 large bedroom, full bath, and huge bonus room.2 walk out floored attic areas. Beautiful cabinets, granite and stainless steel appliances. Isolated and spacious master offers an oasis in glam bath with custom tile shower and tile surround jetted tub and large walk-in closet. Irrigation system. Privacy fenced backyard.

14000 Percivale Drive Huntsville, AL 35803

$185,000 - 3Br/2Ba -  for Sale in Chimney Springs, Huntsville
Open House
$185,000
3 Beds
2 Baths
1,981 SqFt
Status Active
MLS # 1098386
Property Type Single Family Detached
WELCOME TO YOUR PRIVATE TREEHOUSE! That's the feeling you get when approaching this FABULOUS home located in S. HSV. The MAGNIFICENT trex/wood walkway leads you to the welcoming front door of this 3 BR/2 BA house offering rich hardwood floors in living areas, tile in wet areas, lots of crown molding, as well as a beautifully appointed kitchen and STUNNINGLY updated bathrooms! The Dining Room and Great Room are open to each other providing endless opportunities for entertaining or just enjoying as a family. Relax with your morning cup of coffee at the bay window in the breakfast area while catching glimpses of wildlife. Unwind after a long day on the back deck surrounded by trees and nature.

3997 Hawks Way Huntsville, AL 35811

$369,000 - 4Br/3Ba -  for Sale in Hawks Ridge, Huntsville
Open House
$369,000
4 Beds
3 Baths
2,800 SqFt
Status Active
MLS # 1098288
Property Type Single Family Detached
Convenient, Quality Built Comfort & VIEW! 3997 Hawks Way is your new address. 7min Downtown HSV, 12min Research Park & Redstone. All about Location! Beautiful HSV VIEWS from Subdivision & views from patio in fall/winter. Granite throughout, glass/tile backsplash, Wood cabinets w/custom features (Pull out shelves & bake ware storage) Icynene insulation keeps utilities low, High efficient 20 SEER HVAC for extra low utilities. Large 8’ doors for grand feel, Foundation footing, pier, & wood floor system construction, ¾” Solid wood flooring, upgraded tile, lush carpet in bedrooms. Privacy installed on patio for undisturbed relaxation. Oversized Garage, mud sink & extra garage level storage.

135 Kendrick Lane Madison, AL 35758

$239,900 - 5Br/4Ba -  for Sale in Stone Crest, Madison
Open House
$239,900
5 Beds
3.5 Baths
3,228 SqFt
Status Active
MLS # 1098363
Property Type Single Family Detached
This 5/6 bedroom 3.5 bathroom home offers all the space your family needs. Master bedroom with oversized master bathroom suite is the only bedroom located on the ground floor. Open floor plan flows to accommodate family time. Side entry 2 car garage for convenience and privacy. Large privacy fenced backyard encourages outdoor living. A must see!

3104 Arborshade Trace Owens Cross Roads, AL 35763

$455,000 - 4Br/4Ba -  for Sale in Hampton Cove-twelve Stones, Owens Cross Roads
Open House
$455,000
4 Beds
3.5 Baths
3,875 SqFt
Status Active
MLS # 1098171
Property Type Single Family Detached
Southern Livings' finest located in Hampton Cove INCLUDES the HAMPTON HOUSE MEMBERSHIP! Enjoy the open concept floor plan within this PRISTINE home! Hardwood floors, heavy trim and an abundance of windows with transoms grace the main level. Great Room, kitchen and breakfast room all flow together to allow for FABULOUS entertaining, or just enjoy as a family. Double ovens and gas cooktop make for fabulous meals which can be served in the breathtaking Dining Room serviced by a Butler's pantry. Access main floor master down a hall of windows and french doors. Work from home in the first floor study or enjoy football games, movies or games in the HUGE bonus room w/wet bar and fridge!

4000 Piedmont Drive Huntsville, AL 35801

$859,000 - 6Br/5Ba -  for Sale in Piedmont, Huntsville
Open House
$859,000
6 Beds
4.5 Baths
5,998 SqFt
Status Active
MLS # 1098197
Property Type Single Family Detached
Custom Built Exquisite Home in desirable Jones Valley! Featuring 2 stunning floors of pure excellence...6 bedrooms, 5 baths, 2 bonus rooms, large rec room, library with custom built ins, hardwood flooring throughout the main level, tile in wet areas, and new carpet upstairs. The grand foyer boasts a breathtaking staircase, and 18' ceiling. Gourmet EI kitchen w/island, granite counter tops, backsplash, double oven, tile, under cabinet lighting, and a butler's pantry. Also offering a screened-in porch w/privacy, which is accessible from 3 areas in the home incl the master suite. Plus ample storage, intercom w/radio and surround sound on a mature treed lot w/privacy fence and 3 car garage.

2431 Audubon Lane Hampton Cove, AL 35763

$339,900 - 5Br/3Ba -  for Sale in Hampton Cove-deford Mill, Hampton Cove
Open House
$339,900
5 Beds
3 Baths
3,367 SqFt
Status Active
MLS # 1098233
Property Type Single Family Detached
Short walk to Hampton Cove Elementary+Middle School. Hampton House membership conveys. Beautiful updated home! Updated fixtures, new recessed lighting, HARDWOOD flooring+ fresh paint. Perfect layout w/master suite downstairs + bonus/media/rec upstairs (4 BR MAIN+TOTAL 5 bedrooms).STORAGE: 400 SQ FT OF WALK IN FLOORED attic. Large eat-in kitchen w/ B'fast bar+ granite+stainless appliances. Large family room w/tons of natural light features a cozy fireplace-this room connects to breakfast room/kitchen. Beautiful landscaping, privacy fence+patio+flat spacious yard+google fiber+many other upgrades. Cooks termite bond. 2 sprinkler systems. Roof less than 10 years+3 HVAC units.

126 Turney Lane Toney, AL 35773

$164,900 - 4Br/2Ba -  for Sale in Ashnah Estates, Toney
Open House
$164,900
4 Beds
2 Baths
2,065 SqFt
Status Active
MLS # 1098104
Property Type Single Family Detached
No down payment with 100% financing (RD eligible). Country living so close to everything. Right off Jordan Lane and less than 10 minutes to Research Park Boulevard. This full brick rancher offers 4 bedrooms including a spacious master with his and her walk-in closets. The family room has a wood burning fireplace to warm up on those cool winter nights. The large eat-in kitchen has a tile floor and includes oven/range, dishwasher, microwave and a French door stainless refrigerator. Look over your huge level back yard, providing lots of room for kids and pets to roam, from the covered patio. Great home in a great location at a great price!