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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281 Dozier Road Ardmore, AL 35739

$295,000 - 3Br/2Ba -  for Sale in Metes And Bounds, Ardmore
Open House
$295,000
3 Beds
2 Baths
1,625 SqFt
Status Active
MLS # 1085188
Property Type Single Family Detached
WHAT ELSE COULD YOU ASK FOR? CUSTOM FULL BRICK HOME,GRANITE, HARDWOOD,VAULTED CEIL,LOFT,UNFINISHED WALK-IN ATTIC SPACE,PROPANE FIRE PLACE.2 CAR GARAGE,NEW PLUMBING(PEX) THIS 9+ ACRES HAS EVERYTHING YOU HEART DESIRES. 2 BARNS AND A STORAGE SHED WITH UTILITIES. IMAGINE THE POSSIBILITIES! SMALL STOCKED POND. LOTS OF WOODS TO EXPLORE. 75FT WELL, SUBMERSIBLE WELL PUMP. CAN USE CITY WATER AS WELL. NO RESTRICTIONS!!!

107 Pine Manor Drive Madison, AL 35756

$292,838 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$292,838
4 Beds
3 Baths
2,595 SqFt
Status Active
MLS # 1085174
Property Type Single Family Detached
You will love this great location off Hardiman Road in Madison City just 2 miles from James Clemens High School! The Ashton, a 4 bedroom, 3 full bath, 3 car garage plan boast lots of open space throughout! Gorgeous hardwoods in all main areas. Great kitchen with a large island, stainless steel appliances with natural gas range, granite counter tops and pantry. Formal Dining. Flex room. Separate family foyer with lots of storage off the garage. Stacked stone gas log fireplace in the great room. The owners suite has a tile shower, separate vanities soaker tub and walk in closet! BR 4 is also a suite! Time to make some color and option changes by Jan 31st! Ready in late May. Visit today!

113 Carnegie Loop Meridianville, AL 35759

$139,000 - 3Br/2Ba -  for Sale in The Crossing, Meridianville
Open House
$139,000
3 Beds
2 Baths
1,337 SqFt
Status Active
MLS # 1085125
Property Type Single Family Detached
Adorable starter home or perfect for downsizing! Huge, fenced yard. Open floor plan. New, laminate flooring with hand-scraped hardwood plank finish in foyer, family room and hallway. Updated light fixtures and neutral paint colors. Nursery bedroom boasts new carpet and storm shelter in re-enforced closet. Kitchen appliances remain. Breakfast bar w/ tiled dining area in kitchen. Hall bath perfect for siblings or guests with separation of vanity from toilet/ bath area. Ceiling fans in all bedrooms. Move in ready. 20 min. to Research Park, 25 min to RSA, 15 min to HSV and walking distance to shopping, restaurants and banking. Very nice home for under 140K! No rent or Lease Purchase considered.

109 Pine Manor Drive Madison, AL 35756

$322,704 - 5Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$322,704
5 Beds
3 Baths
2,948 SqFt
Status Active
MLS # 1084733
Property Type Single Family Detached
You will love this great location off Hardiman Road in Madison City just 2 miles from James Clemens HS! This Hayden, an award winning 5 bedroom plan boast lots of open space perfect for entertaining! Gorgeous hardwoods in all in main areas. Large formal dining. Bonus room can be an office, craft or living room. Beautiful stacked stone gas log fireplace. The kitchen consist of granite counter tops, natural gas cooktop, built in oven/microwave and large prep island. The owners suite has a trey ceiling, separate vanities, tile shower, soaker tub and walk in closet! BR 5 is a suite! Granite in baths and more! Ready in April. Get $5,600 in closing cost by January 31st! Visit us today!

101 Pine Manor Drive Madison, AL 35756

$292,950 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$292,950
4 Beds
3 Baths
2,595 SqFt
Status Active
MLS # 1084652
Property Type Single Family Detached
You will love this great location off Hardiman Road in Madison City just 2 miles from James Clemens High School! At first stage of construction this Ashton, a 4 bedroom, 3 full bath, flex room, 3 car garage home boast lots of open space! Changes can be made by January 31st on options and some colors! Being built on a corner lot it will feature hand scraped hardwoods in all main areas. Natural gas range with stainless steel appliances, granite and a large island in the kitchen. Formal dining. Stacked stone gas log fireplace in the great room. Tile shower in the master bath and granite in all bathrooms! Visit today for more details and get $5,000 in closing cost! Ready in June.

28791 Cobble Creek Road Madison, AL 35756

$212,000 - 3Br/1Ba -  for Sale in Olde Cobblestone, Madison
Open House
$212,000
3 Beds
1 Bath
1,875 SqFt
Status Active
MLS # 1084435
Property Type Townhouse
Under Construction - Come choose your colors & upgrades! Beautiful One Level Town Home with open Floor Plan facing wooded lot. With peaceful surroundings and a beautiful quaint olde town feeling, you will love this community with a wooded paved walking trail, swimming pool, and low maintenance town home. The Rose Floor Plan features an open spacious great room with fireplace, crown molding, hardwood floors, Granite Kitchen Countertop, custom cabinets, tiled walk in shower with bench, large walk in closet in Master bedroom, and outdoor private side patio with attached 2 Car Garage! Scheduled Completion June 1, 2018. Minutes from Shopping, I565, and convenient to Madison Hospital.

115 Sw Rainwood Drive Huntsville, AL 35824

$319,900 - 5Br/5Ba -  for Sale in The Reserve, Huntsville
Open House
$319,900
5 Beds
4.5 Baths
3,355 SqFt
Status Active
MLS # 1084263
Property Type Single Family Detached
This is a must see spacious Full Brick Two Story Home conveniently located near Redstone Arsenal. This house is move-in ready with fresh paint, new carpet, and brand new appliances. Features include a grand two-story entrance with beautiful metal spindles leading up the staircase, a large dining room, a family room with fireplace, and a screened in porch with brand new tile flooring. The large backyard privacy fence has also been freshly painted. This 5 Bedroom home features exceptional architectural details throughout like Coffered Ceilings, Wainscoting, Hardwood floors, and Crown Molding.The kitchen is very spacious with Brand New Appliances, marble countertops and an open floor plan.

7490 Chaco Street Owens Cross Roads, AL 35763

$267,355 - 5Br/4Ba -  for Sale in Overton, Owens Cross Roads
Open House
$267,355
5 Beds
3.5 Baths
3,142 SqFt
Status Active
MLS # 1084022
Property Type Single Family Detached
Most home for the money!! The Lincoln- a 5 bedroom, 3.5 bath with an open bonus room is sure to please with its space and function for a large family! The stunning kitchen offers granite counter tops, natural gas range, and backsplash! The large, open great room with a gas fireplace is perfect for afternoons watching sports and tv! The large master sits in the back of the home with complete privacy! The upstairs offers 4 bedrooms and a large bonus for the kids or for a second living room! As you sit on your covered patio you are greeted with mountain views and privacy with nobody behind you! Builder to pay full closing costs with preferred lender!! Call Hunter Olive today for more details

107 Harwell Lane Meridianville, AL 35759

$139,900 - 3Br/2Ba -  for Sale in Frontier Village, Meridianville
Open House
$139,900
3 Beds
2 Baths
1,912 SqFt
Status Active
MLS # 1083922
Property Type Single Family Detached
There's a lot of room in the huge back yard of this well-maintained 3 Bedroom 2 Bath Contemporary Home that measures at 1,900 square feet. Beautiful granite counter tops are throughout the residence along with tile floors, updated appliances and engineered wood floors. It also has a massive great room that would be perfect for entertaining or spending time with the family.

103 Pine Manor Drive Madison, AL 35756

$265,857 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$265,857
4 Beds
2.5 Baths
2,359 SqFt
Status Active
MLS # 1083760
Property Type Single Family Detached
You will love this great location on Hardiman Road in Madison City just 2 miles from James Clemens High School! Under construction now! This great new home features 4 bedrooms, 2 1/2 baths and a 3 car garage! Hand scraped hardwoods in all main areas. Natural gas range with stainless steel appliances, large island, granite counter tops and recessed lights in the kitchen. Spacious dining. Beautiful stacked stone gas log fireplace in the large great room. The master suite has a separate shower, soaker tub and large double vanity. There is also a double vanity in the 2nd full bath, trey ceilings, large covered porches and more! Get $4,600 in closing cost by Jan 31st! Ready in April. Visit today!

105 Pine Manor Drive Madison, AL 35756

$319,950 - 5Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$319,950
5 Beds
3 Baths
2,948 SqFt
Status Active
MLS # 1083761
Property Type Single Family Detached
You will love this convenient Madison City location off Hardiman Road just minutes to everything Madison has to offer! This Hayden, a 5 bedroom plan boast lots of open living space and is great for entertaining! Gorgeous hardwoods in all main areas. Beautiful wainscoting in the foyer and formal dining room. The cook with love the kitchen with large island, beautiful granite, natural gas cooktop with built in oven/microwave and pantry. You will love the beautiful stacked stone gas log fireplace with custom mantel in the great room! The owners suite has a tile shower, soaker tub, separate vanities and walk in closet! BR 5 is also a suite! Ready in April! Visit us today for more details!

108 Tori Drive Madison, AL 35756

$264,900 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$264,900
4 Beds
2.5 Baths
2,359 SqFt
Status Active
MLS # 1083723
Property Type Single Family Detached
A must see! This fabulous Deauville, a 4 bedroom, 2 1/2 bath with 3 car garage plan is perfect for the growing family or those looking to downsize but still want space for entertaining! Located off Hardiman Rd in Madison City you'll love being minutes to all Madison has to offer! As you walk into the foyer with wainscoting you see the elegance and beauty off all the features this home has to offer with hand scraped hardwoods. A large family room with stacked stone gas log fireplace and custom mantel. You'll love the kitchen with beautiful granite, stainless steel appliances with gas range and a large island. A great and spacious master suite await you along with much more! Come see it today!

104 Tori Drive Madison, AL 35756

$319,900 - 5Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$319,900
5 Beds
3 Baths
2,948 SqFt
Status Active
MLS # 1083733
Property Type Single Family Detached
A must see! The Hayden is a beautiful 5 bedroom home with spacious room throughout and is perfect for the growing family and those looking for more space to entertain! As you walk into the foyer with craftsman style wainscoting you see the elegance and beauty of this home! With Hand scraped hardwoods in all main areas you pass the formal dining room and bonus flex room to the large great room with a stacked stone gas log fireplace and custom mantel. The cook with love this kitchen with beautiful cabinets and santa cecilia granite, stainless steel appliances with gas range and lots of work space. A fabulous master suite, 5th BR suite and other great features await you! Come see it today!

110 Tori Drive Madison, AL 35756

$339,900 - 5Br/4Ba -  for Sale in Brentwood Manor, Madison
Open House
$339,900
5 Beds
4 Baths
3,257 SqFt
Status Active
MLS # 1083734
Property Type Single Family Detached
A must see! You will love this great location off Hardiman Road in Madison City convenient to all Madison has to offer! Be wowed by the gorgeous hardwood floors in all main areas! Formal dining. Bonus room up front. Beautiful stacked stone gas log fireplace in the large great room. The kitchen consist of a natural gas range with stainless steel appliances, a large island and a walk in pantry. Separate family foyer with drop zone and extra storage closet off the laundry is hard to find! The owners suite has a tile shower, soaker tub and separate large vanities! BR 2 is another full suite! Granite in baths, irrigation and a great backyard! Get $6,000 in closing cost by January 31st!

111 Pine Manor Drive Madison, AL 35756

$291,399 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$291,399
4 Beds
3 Baths
2,595 SqFt
Status Active
MLS # 1083745
Property Type Single Family Detached
You will love this great location off Hardiman Road in Madison City! This Ashton, a 4 bedroom, 3 full bath, 3 car garage plan boast lots of open space! Featuring gorgeous hardwoods in all main areas. Formal dining room. Bonus room. Beautiful stacked stone gas log fireplace in the great room with custom mantel. The kitchen consist of a natural gas range with stainless steel appliances, a large island, granite counter tops and pantry. The master suite has a tile shower, large soaker tub and separate large vanities! BR 4 is a separate suite! Granite in baths and more! Great lot at the end of the street means no traffic! Ready in late March! Visit today and ask sit agent about incentives.

131 Tybee Drive Madison, AL 35756

$190,331 - 4Br/2Ba -  for Sale in Savannah, Madison
Open House
$190,331
4 Beds
2 Baths
1,820 SqFt
Status Active
MLS # 1069352
Property Type Single Family Detached
MOVE IN READY. GORGEOUS 4 BEDROOM, 2 BATH, FULL BRICK HOME LOADED WITH UPGRADES: PENDANT LIGHTING ,ISLAND W/GRANITE KITCHEN AND BATH, GARDEN TUB WITH JETS, LUXURY VINYL WOOD-LOOK FLOORING IN FAMILY DINING AND KITCHEN, WOOD BURNING FIREPLACE AND SO MUCH MORE. SAVANNAH IS THE PERFECT COMBINATION: MADISON CITY SCHOOLS AND USDA RURAL DEVELOPMENT LOAN ( 100% FINANCING ) !! EXCELLENT 1-2-10 WARRANTY !! CLOSING COSTS ARE PAID WITH PREFERRED LENDERS !! WHEN LIVING IN SAVANNAH, REDSTONE GATE 7,HSV. INT'L AIRPORT, BRIDGE STREET, AND REASEARCH PARK ARE JUST MINUTES AWAY. MODEL HOME OPEN DAILY LOCATED AT 127 HAROLD MURPHY DRIVE!! **ASK ABOUT OUR CURRENT SPECIAL!!!**

111 Teakwood Drive Huntsville, AL 35801

$313,000 - 4Br/3Ba -  for Sale in Piedmont, Huntsville
Open House
$313,000
4 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 1083244
Property Type Single Family Detached
Location!! Location!! Location!! This beautiful full brick rancher sits in Piedmont which is one of the most desirable neighborhoods in Huntsville. It's nestled in a quaint private neighborhood yet is walking distance to restaurants, shops and parks with aggregate driveway and sidewalk. The sun-room looks over a gorgeous pool with a separated fully fenced backyard with plenty of room to play. The kitchen has detailed cabinetry that over-looks a breakfast nook and family room that has a welcoming fireplace. A side entry garage with a below ground storm shelter. Also, it has an electrical hookup for an RV. This house is a must see!

105 Kinglet Way Madison, AL 35756

$275,999 - 4Br/3Ba -  for Sale in The Hamptons At Piney Creek, Madison
Open House
$275,999
4 Beds
2.5 Baths
2,638 SqFt
Status Active
MLS # 1077934
Property Type Single Family Detached
Introducing the Crestwood! 4 bedrooms, 2.5 baths, plus bonus! Large great room with trey ceiling and fireplace opens to spacious kitchen equipped with granite and large center island. Breakfast area looks out over covered porch. Private owners suite with walk in closet and luxurious glamour bath complete with tiled shower with frame-less glass door. Formal dining room may also be used as a flex room or office. Entertaining is easy with a 2nd floor bonus room and half bath. Standard features include hardwoods in main areas, extensive trim, granite throughout, tankless gas water heater, & more! Estimated completion late February.