Renting a home is an expensive luxury! The average rent in the Phoenix area is now $809 per month. Occupancy rates are 98% occupied. Rentals are getting very scarce and costly now.If you were paying $809 per month, how much home could you buy? After converting this rent payment and factoring in the tax advantage of home ownership you could buy a home worth $140,000. There are currently 2200 homes for sale in the Phoenix area for $140,000 or less.Are you paying $1000 per month? A home valued at $175,000 is within your reach.All of this doesn't consider that historically, home ownership will also pay you approximately 5% a year in equity appreciation.Can you afford to rent?Call me to find out how to fire your landlord!Jim Little, Your Sun City Realtorhttp://jclittle.com/Ken Meade Realty17...
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