Over the past several years, choosing to rent a home has been an increasingly popular choice. This is particularly true for younger adults who were not ready, or felt that they could not afford to buy a home. There are pros and cons to both renting and buying, so weighing out your options and making the best decision for your circumstances, income, and future goals is what most real estate professionals will advise. The Brownstones at New Visions, has done an extensive comparison of buying a new townhome versus renting an apartment. You will be surprised to find how affordable buying a new townhome in Brick can be.
Renting Versus Buying
With pre-construction pricing and incentives to the first eight buyers at The Brownstones at New Visions, and the low interest rates buyers can take advantage of right now, buying a new townhome in Brick has never been more affordable. A monthly mortgage payment for a three bedroom townhome at The Brownstones at New Visions can be as little as $1,744 per month including taxes and HOA fees. In addition, the benefits of homeownership can far outweigh paying rent, which can cost more than $210,000 over ten years for $1,750 in monthly rental payments. At the end of your lease, there is nothing to show for your near quarter-million-dollars of rent payments.
Benefits of Buying
Investing in your own home provides a lasting asset for you and your family. With the average home increasing in value over time, real estate has proven time and again to be a solid long-term investment. In addition, homeownership can provide tax breaks, depending on your circumstances, and with a fixed rate mortgage provides a stable monthly payment year after year. In certain cases you may be able to borrow from the built-up equity in your home. This can help with things like college tuition, future upgrades to your home, or large purchases, like a car. Purchasing a new home can provide a solid foundation for any family’s future.
The pride of homeownership is still the American Dream, and it’s alive and well at The Brownstones at New Visions. The newest townhome community for sale in Brick, New Jersey is revolutionizing the way younger home buyers are making purchase decisions. We encourage you to use our mortgage calculator to see how affordable homeownership can be. For more information on the new homes for sale, please contact us today.