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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107 Arbor Hill Lane Huntsville, AL 35824

$235,000 - 4Br/2Ba -  for Sale in The Reserve-natures Landing, Huntsville
Open House
$235,000
4 Beds
2 Baths
2,534 SqFt
Status Active
MLS # 1091401
Property Type Single Family Detached
WELCOME HOME! UPDATED & MOVE IN READY LOADED W/EXTRAS. Freshly Painted exterior Trim & Interior. New Hardwoods, Bonus Room upstairs is counted as the 4th bedroom, 25x15 Hearth Room located off Kitchen! 23x19 Fresh Painted Pergola/deck built w/custom landscaping.This home offers Large Walk In Closets ,2 fireplaces-Plantation Blinds on back-High Ceilings in 2 rooms-Lg kitchen w/ island & Granite countertops Custom mantel in Den w/hidden component door-hardwoods & tile areas- Framed mirrors in baths + Culture Vanity Marble. Home's Wired for Home Theater, Security System, Audio Speakers, High Speed Internet. & close To Redstone Arsenal, Bridge Street, Town Madison & I565. Community Pool & Park.

106 Benoir Trail Madison, AL 35756

$299,900 - 4Br/4Ba -  for Sale in Brighton Park At Ashbury, Madison
Open House
$299,900
4 Beds
4 Baths
3,341 SqFt
Status Active
MLS # 1091168
Property Type Single Family Detached
The elusive sprawling Ranch with Bonus up! This home features a fantastic open floor plan including a kitchen with a gorgeous granite island that will fit the whole family around it, stainless steel appliances, and loads of cabinet space. The isolated Master Suite has a large walk in closet and roomy bath with separate shower and soaking tub. There are three additional bedrooms downstairs and a huge bonus up. Covered front porch and patio. Three car garage. Lots of natural light and windows throughout.

104 Fernleaf Drive Meridianville, AL 35759

$317,025 - 4Br/4Ba -  for Sale in Spencer Lakes, Meridianville
Open House
$317,025
4 Beds
3.5 Baths
2,891 SqFt
Status Active
MLS # 1090972
Property Type Single Family Detached
The ‘Morgan III’ by Bentley Walls, move in ready in Spencer Lakes. This very popular floorplan feels like home the moment you step in, with a two story foyer and large open spaces. Premium features of this home include: * Custom Cabinets * Granite Countertops * Tile Backsplash * Stainless Steel Appliances * Private Office Space * Spa Like Master Bath * Spacious Loft Area * Oversized 3-Car Garage * Navien Tankless System * Large Lot with Full Sod * Whole Yard Irrigation System * Large Covered Porch with Patio Extension and Firepit

310 Acorn Grove Lane Huntsville, AL 35824

$235,000 - 3Br/3Ba -  for Sale in The Reserve-natures Landing, Huntsville
Open House
$235,000
3 Beds
2.5 Baths
2,745 SqFt
Status Active
MLS # 1090853
Property Type Single Family Detached
Welcome Home! Over 2700 sqft with 3 large spacious bedrooms w/ loft area and open floor plan yet cozy feel. Many upgrades and move in ready. Close to Arsenal, Shopping, Entertainment, and Green space. Hard-wired front porch Camera to remain. Sprinkler system. Kitchen plumbed for gas. Security Sytem pre-installed. Smart features throughout. Wired for SS, fully insulated extra long garage w/ floored attic for plenty of storage. Private fenced on leveled lot backing to woods. Check out the 360 degree fully immersive CILLC Virtual Realty Tour for a walk-through perspective. https://my.matterport.com/show/?m=zpXoyFZMWka Vacant Lot of same dimensions adjacent also for sale - asking $38,000

103 Pine Manor Drive Madison, AL 35756

$274,857 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$274,857
4 Beds
2.5 Baths
2,359 SqFt
Status Active
MLS # 1090679
Property Type Single Family Detached
Madison City Schools and a 3 Car Garage! This great location off Hardiman Road in Madison is minutes to schools, shopping, I-565 and Hwy 72! This great move in ready open concept has 4 bedrooms, 2 1/2 baths and a 3 car garage and lots of WOW factor! Hardwood floors, wainscoting and crown molding. Beautiful stone surround gas log fireplace in the family room. The cook with love the kitchen with a 5 burner gas range, stainless steel appliances, granite and a large island with seating space. Luxury isolated owners suite with double vanity, spa like tub and separate shower! Covered porches and builder warranty! Get $6,000 to use as you choose by April 30th. Restrictions apply. Visit us today!

104 Tori Drive Madison, AL 35756

$324,900 - 5Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$324,900
5 Beds
3 Baths
2,948 SqFt
Status Active
MLS # 1089601
Property Type Single Family Detached
Madison City Schools! You will love this great location off Hardiman Road in Madison just minutes to schools, shopping, Redstone Arsenal, I-565 and Hwy 72! This gorgeous move in rancher has 5 bedrooms, 3 full baths, a flex room and 3 car garage! The formal dining room offers elegant entertaining! Great kitchen with a 5 burner gas range, stainless steel appliances, granite, deco backsplash and a large island! Gas log stacked stone fireplace in the family room. Luxurious isolated owners suite with custom tile shower, spa like tub and his and hers granite vanities. BR 5 is also a suite! Granite in all baths! Great backyard!! Get $6,000 to use as you choose! Restrictions apply. Visit today!

20 Silky Oak Circle Huntsville, AL 35824

$282,109 - 4Br/4Ba -  for Sale in Lake Forest, Huntsville
Open House
$282,109
4 Beds
3.5 Baths
2,787 SqFt
Status Active
MLS # 1089514
Property Type Single Family Detached
The Willow is an exciting all new plan with two car garage and golf cart garage, perfect for resort style living in Oakwood at Lake Forrest. It features the master bedroom on first floor, with three bedrms and loft area upstairs. The spacious great room offers beautiful wainscoting and crown molding. The dining room is open to the kitchen as well with granite counters, stainless appliances, and designer cabinetry. The isolated master suite features a trey ceiling and very large master bath with standing shower, spacious soaker tub, and double vanity. Outside there is a great covered patio with our Game Day Porch, featuring a fireplace, cedar mantle and cable outlet, ideal for entertaining.

215 Bermuda Lakes Drive Meridianville, AL 35759

$136,544 - 3Br/2Ba -  for Sale in Bermuda Lakes, Meridianville
Open House
$136,544
3 Beds
2 Baths
1,434 SqFt
Status Active
MLS # 1042633
Property Type Single Family Detached
3 Beds and 2 baths with a 2-car attached garage and walk-in closets. Separate shower in the master suite, pendant lighting package and upgraded flooring as included options. Located just minutes from the new Winchester Rd. development. Closing costs paid w/use of preferred lender. Photos used are similar to the actual home. Model Open Daily. Ask about our current specials.

104 Bermuda Lakes Drive Meridianville, AL 35759

$170,520 - 4Br/2Ba -  for Sale in Bermuda Lakes, Meridianville
Open House
$170,520
4 Beds
2 Baths
1,665 SqFt
Status Active
MLS # 1089074
Property Type Single Family Detached
MODEL HOME. NOT FOR SALE. PLEASE VISIT AT 104 BERMUDA LAKES DR. MERIDIANVILLE, AL 35759

105 Pine Manor Drive Madison, AL 35756

$326,503 - 5Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$326,503
5 Beds
3 Baths
2,948 SqFt
Status Active
MLS # 1088891
Property Type Single Family Detached
Madison City Schools! You will love this great location off Hardiman Road in Madison just minutes to schools, shopping, Redstone Arsenal, I-565 and Hwy 72! This gorgeous new open concept home has 5 bedrooms, 3 full baths, flex room and a 3 car garage! The formal dining room offers elegant space for entertaining! Enjoy a dream kitchen that features a stainless steel gas cook top, built in wall oven/microwave, granite and a large island bar overlooking the cozy stacked stone gas log fireplace in the great room! Luxurious isolated owners suite with custom tile shower, spa like tub and his and hers granite vanities! Get $6,000 to use as you choose! Restrictions apply. Visit our model today!

7027 Camrose Lane Huntsville, AL 35806

$194,668 - 3Br/2Ba -  for Sale in Ashton Springs, Huntsville
Open House
$194,668
3 Beds
2 Baths
1,685 SqFt
Status Active
MLS # 1087372
Property Type Single Family Detached
Under Construction! The Provence is a 3 bedroom / 2 bath single story home. The spacious living room offers beautiful wainscoting and crown molding. The great room is open to a very large dining room with coffered ceilings. The dining room is open to the kitchen as well with granite counters, stainless appliances, and designer cabinetry. The isolated master suite features a trey ceiling and very large master bath with standing shower, soaker tub, and double vanity. Two other bedrooms are in the home and another full bath. Outside there is a great covered patio perfect for entertaining. With 5” hand-scraped hardwoods and rear entry garage. Photos and features are of similar home!

0101 Pine Manor Drive Madison, AL 35756

$298,399 - 4Br/3Ba -  for Sale in Brentwood Manor, Madison
Open House
$298,399
4 Beds
3 Baths
2,595 SqFt
Status Active
MLS # 1087313
Property Type Single Family Detached
Madison City Schools and a 3 Car Garage! You will love this great location off Hardiman Road in Madison with a peaceful country setting just minutes to schools, shopping, I-565 and Hwy 72! This great new home has 4 bedrooms, 3 full baths, flex room and a 3 car garage! Hardwood floors in all main areas. Formal dining. The kitchen has a 5 burner gas range, stainless steel appliances, granite and large island with seating space! Gas log stone fireplace with custom mantel. Luxury owners suite with custom tile shower, spa like tub and granite vanities! Corner Lot! Ready in May. Get $6,000 in closing cost by April 30th! Restrictions apply. Visit us today for more details before its gone!

5112 Devonshire Drive Owens Cross Roads, AL 35763

$323,840 - 4Br/3Ba -  for Sale in Southgate, Owens Cross Roads
Open House
$323,840
4 Beds
3 Baths
3,212 SqFt
Status Active
MLS # 1087318
Property Type Single Family Detached
The Everest by Valor Communities features over 3,200 heated sq.ft.living space & has a wonderful open floor with custom amenities throughout. Prepare your favorite meals in this home's spacious chef's kitchen with designer cabinets, granite counter tops & a spacious breakfast area. Additional features include 5 hand-scrapped hardwood floors in the foyer, kitchen & breakfast area, recessed lighting, custom trim package & cultured marble vanities in all baths. SUPER Master Suite & sitting room. Photos are of a similar home.

289 Bermuda Lakes Drive Meridianville, AL 35759

$167,545 - 4Br/3Ba -  for Sale in Bermuda Lakes, Meridianville
Open House
$167,545
4 Beds
2.5 Baths
2,025 SqFt
Status Active
MLS # 1037494
Property Type Single Family Detached
Awesome Floorplan! Four HUGE Bedrooms! Large living room on second floor; open floor plan on main level; large master closet; level yard perfect for BBQ and sports. Located just minutes from the new Winchester Rd. development. 1-2-10 Year Warranty! Builder Pays Closing Costs With Use Of Preferred Lender. Preferred Lender Will Also Pay Up To 1% Of Prepaid Taxes & Insurance.

240 Bermuda Lakes Drive Meridianville, AL 35759

$135,794 - 3Br/2Ba -  for Sale in Bermuda Lakes, Meridianville
Open House
$135,794
3 Beds
2 Baths
1,434 SqFt
Status Active
MLS # 1042638
Property Type Single Family Detached
Under Construction estimated completion April 2018....Visit model home located at 104 Bermuda Lakes Drive in Meridianville. BEAUTIFUL 3 BED/2 BATH, TOP GRADE GE APPLIANCES, PENDANT LIGHTS, ARCHWAYS AND ROUNDED CORNERS THROUGHOUT, DOUBLE VANITIES, SEPARATE SHOWER, COVERED PORCH AND PATIO, AN ALL AROUND SMART DESIGN. THIS IS THE PERFECT COMBINATION: AWARD WINNING QUALITY, USDA RURAL DEVELOPMENT LOAN (100% FINANCING) AND AN EXCELLENT 1-2-10 YEAR WARRANTY. BUILDER PAYS CLOSING COSTS WITH USE OF PREFERRED LENDER. ASK ABOUT OUR MONTHLY SPECIALS.

5113 Devonshire Drive Owens Cross Roads, AL 35763

$316,780 - 5Br/3Ba -  for Sale in Southgate, Owens Cross Roads
Open House
$316,780
5 Beds
3 Baths
2,783 SqFt
Status Active
MLS # 1038642
Property Type Single Family Detached
Welcome to the Westin! Walk into a grand 2 story entrance and immediately focus on the coffered ceilings in your Dining room. The great room w/fireplace is open to the kitchen, breakfast area, huge island w/room for 4 barstool for entertaining. Valor offers various kitchen appliance packages to suit chefs of all levels. Downstairs features a study and a large guest room with a full bath. Walk upstairs to find a huge master suite with vaulted ceilings and a large bathroom with a dream closet. 3 more bedrooms and a bathroom complete the 2nd level. Photos are of similar home and the price of this home may or may not include options shown in pictures.

201 Bermuda Lakes Drive Meridianville, AL 35759

$140,900 - 3Br/2Ba -  for Sale in Bermuda Lakes, Meridianville
Open House
$140,900
3 Beds
2 Baths
1,503 SqFt
Status Active
MLS # 1075367
Property Type Single Family Detached
Visit model home located at 104 Bermuda Lakes Drive. BEAUTIFUL 3 BED/2 BATH, TOP GRADE GE APPLIANCES, PENDANT LIGHTS, ARCHWAYS AND ROUNDED CORNERS THROUGHOUT, DOUBLE VANITIES, SEPARATE SHOWER, COVERED PORCH AND PATIO, AN ALL AROUND SMART DESIGN. THIS IS THE PERFECT COMBINATION: AWARD WINNING QUALITY AND USDA RURAL DEVELOPMENT LOAN (100% FINANCING). OUR FULL-BRICK HOMES ARE LOADED WITH INCLUDED FEATURES AND AN EXCELLENT 1-2-10 YEAR WARRANTY !! BUILDER PAYS CLOSING COSTS WITH PREFERRED LENDERS !! MODEL HOME OPEN DAILY! **ASK ABOUT OUR CURRENT SPECIAL!!!**

293 Blue Creek Drive Harvest, AL 35749

$224,392 - 4Br/2Ba -  for Sale in Shadow Brook, Harvest
Open House
$224,392
4 Beds
2 Baths
2,026 SqFt
Status Active
MLS # 1086563
Property Type Single Family Detached
You'll love coming home to peaceful country living with crepe myrtle tree lined streets & a community pool & cabana! The Clayton is an absolutely stunning NEW 4BR home which is on a wooded back home sit for privacy! The perfect location near Madison just off Jeff Road! Your one level open floor plan is great for entertaining & family gatherings! Plus our Spring Incentive will assist in making this home even more customized to your liking. Wouldn't you like 4500 towards selections for your new home.This Home is in the beginning stages of construction so there's about 2 weeks left that you can choose the selections basically on us! 100% USDA RD Loan if eligible! See Agent for Details