Are you throwing money down the drain by renting?

Are you throwing money down the drain?

By: Bill Panebianco

Are you still one of the many people in Southwest Florida who has a landlord?money-down-the-drain-waste

Are you sick and tired of helping someone else build equity? If so, think about these numbers: The cost of a brand-new Adams Home in Port Charlotte or North Port starts at $119,900.  This means nothing to most people unless we break it down into what really matters to you: the monthly payment.

Our preferred lenders’ current rates are 3.5 percent for a 30-year fixed rate on an FHA loan (only 3.5 percent down payment). With a down payment of $4,196, the monthly payments would be $519.56 per month (principle and interest). The average rent on a 3- bedroom, 2-bath home or apartment is $1,125 per month. It is $606 per month less to own.

Let’s look at it another way. Are you “waiting” to buy? If so, let’s say you wait five years and your rent never even increases. Multiply $1,125 by 60 months. That’s $67,500 in rent that could have been used toward buying your new home. Do you want to be told how to live, what walls you can’t paint, what carpet or tile or even wood floor you can’t add? Do you want someone else telling your children how much their pet can weigh or that they are not even allowed to have a pet?

If you’re tired of renting and want to own your own home, visit one of our five sales centers in Charlotte County. You’ll find them at AdamsHomes.com. Just to show that this works on any priced home, a $150,000 home with a down payment of 3.5 percent would have a monthly payment of $649.99 per month (principle and interest).

This is a great time to buy from Adams Homes.  They will even pay almost all of your closing costs if you use a preferred lender.  It is time to kiss your landlord goodbye and visit one of the five Adams Homes sales centers in Charlotte County or any of the three sales centers in Lee County or 24 hours a day at www.AdamsHomes.com.

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Adams Homes is one of the largest privately-held new home builders in the southeast. Adams Homes has built more than 35,000 new homes since 1991 and builds in seven states including AlabamaFloridaGeorgiaMississippiNorth Carolina, South Carolina and Tennessee in more than 100 communities.

Discover all Adams Homes communities, model homes and homes for sale anytime on our website, https://www.adamshomes.com/. While you’re there, explore our mortgage calculator and obtain financing information.

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