Real Estate News You Need
Welcome back, readers! We launched WHAT’S UP SOUTHEAST VALLEY with the intention of giving you the real estate news you REALLY need WHEN you need it. Last month we covered the TOP 3 TRENDS in the Southeast Valley Real Estate Market: Millennials, Investors, and Accidental Landlords.
Missed it? Check out ALL of our What's Up Southeast Valley editions for some super cool news.
This month we're switching gears a bit and giving you the inside scoop on renting versus buying in the Southeast Valley. We teamed up with our friends over at Trulia and here's what we found...
Save some cash and skip the rent - It’s cheaper to buy than to rent.
Inventory is low. Houses are moving quickly. Our clients are busy buying their first home, downsizing for retirement and adding to their investment portfolio for the future. But what about if you haven’t jumped on the buying train quite yet? Still sending your landlord money each month and not getting much in return? Wondering if it’s really cheaper to buy than rent in the Southeast Valley? One word - YEP. Let’s break it down for you with these handy dandy charts.
Do you know where Chandler is? If you are local - it’s off the 10 and between the 101, some above the 202 and some below. Not from around here? It’s about 25 miles southeast of Phoenix and one of the more southern cities in the Southeast Valley. With a median sales price of around $300,000 and a median rent price of about $1,600 per month, savvy renters could become their own landlords. It is 29% cheaper to buy a Chandler AZ home than to rent one. Pay for a trip to Europe with the annual savings of $5,256 annually - Eiffel Tower, anyone?
Just north and east of Chandler is Gilbert, think San Tan Village and Joe’s BBQ for you locals, where you can still find some sweet deals. Get a two-story house with a pool or a more modern condo because it is 30% cheaper to buy than to rent in Gilbert. The median rent is $1,500 per month but with the median sales price on homes slightly higher than those in Chandler, choosing to invest in Gilbert real estate will save renters a whopping $309 per month.
Gilbert and Chandler not your speed? Buying a pad in Mesa is a great option, too. The median sales price of a Mesa home is a super affordable $245,000 while median rent is still pretty high at $1,350. Opting for a piece of Mesa real estate is a wise choice. Expect to save 34% when renting and buying - we’re talking a whopping $441 per month cheaper which translates into a nice new Volkswagen.
Ready to hang up your renter hat?
Take a peek at the great homes we’ve got listed in these here parts and schedule an appointment to talk to us about all of the benefits of renting versus buying in the Southeast Valley and how to get pre-approved today. With interest rates on the rise, learn how to buy low with an experienced real estate agent today.
August's Closing Shout Outs
#Congrats #Holla #Thanks to these hard working folks who just moved into their favorite find!
And... the same to these fun loving families who just sold one of their most valuable assets!
Looking for something fun to do? So are we! We live, work and play in the Southeast Valley and this month we’ve got our eye on these upcoming events:
Have somewhere you are looking to be this month or want us to feature YOUR event in a future issue? Send us the details via email to [email protected].