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The Lowry Team Asks, “Can You Really Afford To Keep Renting?”

October 8, 2014 by Eric Lowry Leave a Comment

Can You Really Afford to Keep Renting?

With the rising cost of renting, many people are considering buying a home. However, some are worried about affordability. If you are paying rent, you can afford to buy a home.

Consider this example:

Buying A Home:

Mary’s $900 mortgage payment includes $700 of interest. Her total annual house payments are $10,800. At the end of the year, $8,400 of that is tax deductible ($700 x 12months). She is in the 28% tax bracket, so her savings are $2,352. Her actual housing cost for the year is $8,448.

Renting An Apartment:

Joe believes he can’t afford to buy. He pays $800 in rent each month which makes Joe’s housing costs for the year $9,600. He thinks he is saving money by renting, but he is actually spending $1,150 more than Mary, and he is not building any equity.

Interest rates remain very low and have largely been very stable. The current rate for a 30 year fixed rate loan is approximately 4.25% for a conventional loan and approximately 4.125% for an FHA loan. However, interest rates are expected to increase. The National Association of Realtors is projecting interest rates to rise to 5.4% by June 2015.

So the question you should ask yourself is:

Can You Really Afford to Keep Renting?

The Lowry Team has first time home buyer specialists that can help you through the entire home buying process. From pre-approval to closing, the experts on The Lowry Team can answer all of your questions and concerns and guide you to the benefits of home ownership.

The Lowry Team is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

The Lowry Team is “Different by Design”…taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team, Keller Williams at 513-874-1830.

Ready to start searching for your first home? Start your home search here: www.LowryTeam.com

Here are some quick searches to get you started:

West Chester Ohio Homes For Sale Under $200,000

Liberty Township Ohio Homes For Sale Under $200,000

Mason Ohio Homes For Sale Under $200,000

Monroe Ohio Homes For Sale Under $200,000

Fairfield Township Ohio Homes For Sale Under $200,000

Fairfield Ohio Homes For Sale Under $200,000

The Lowry Team Keller Williams :: No Regrets For 1st Time Home Buyers

August 25, 2014 by Eric Lowry Leave a Comment

The Lowry Team Keller Williams :: No Regrets For 1st Time Home Buyers

The Lowry Team Keller Williams Realty does not want to see their first time home buyers have any regrets about their purchase. According to a survey by Zillow, some of the biggest regrets that first time home buyers have are size, cost, neighborhood, yard and parking. Approximately half of those surveyed had regrets and would have done something differently.

62% of those home buyers that had regrets were unhappy with the size and layout of their new home. They wished they had a larger kitchen, more storage or a bigger house overall.

Costs were another big regret of first time home buyers. Some felt that they paid too much or wished they had put more money down upfront. Other home buyers surveyed felt surprised by the cost of the closing or the actual cost of maintaining a home once it was purchased.

25% of first time home buyers with regrets ended up unhappy with the neighborhood they chose. Once moving in, they discovered things they didn’t like about the neighborhood. Some wanted to be closer to entertainment and dining options, others felt more of a walking community would have suited their needs better.

Another big regret of first time home buyers is the yard. Home buyers either wished they had gotten a home with a larger lot or wished they had a yard that was easier to maintain.

Lastly, parking options were a regret of home buyers. The home buyers surveyed wished for a different and better parking situation. On street parking is not always readily available or the driveway and garage were inadequate for the home buyers needs.

Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.

Some people have a notion that home ownership is like renting, but with the power to have pets and paint the walls whatever color you like. However, while these privileges are available to homeowners in most municipalities, they come with the responsibilities of a mortgage, taxes and home maintenance. Preparing for home ownership requires you to take critical stock of your finances and your expectations.

You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.

When you hire us to help you buy your first home, we want to know what you want and how much you can afford. Then we’ll find a way to merge these two priorities and find a residence that you’ll enjoy owning.

If you are considering buying your first home

or are looking to move into your dream home,

Contact a member of The Lowry Team.

Contact The Lowry Team of Keller Williams Realty Associate Partners today.

Don’t Hire an Agent, Hire a Team…The Lowry Team

Buyers and sellers can reach The Lowry Team – Keller Williams at: 513-874-1830.

Other Articles You May Be Interested In:

Buying A Home In The Current Housing Market

1st Time Home Buyer Specialists

West Chester and Liberty Township Ohio Real Estate Market Report

The Lowry Team Keller Williams Shares The 6 Most Essential Home Buyer Tips

1st Time Home Buyer Homes For Sale In West Chester

1st Time home Buyer Homes For Sale in Liberty Township

Search Homes In West Chester

Search Condos in West Chester

Find Out The Current Market Value of Your West Chester Ohio Home

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The Lowry Team – 1st Time Home Buyer Homes For Sale In West Chester OH

June 4, 2014 by Eric Lowry Leave a Comment

The Lowry Team –

1st Time Home Buyer Homes For Sale In West Chester OH

June is National Home Ownership Month. Owning a home is a personal accomplishment as well as a sound financial investment. Studies show that owning a home is associated with feelings of happiness, independence and achievement. Home ownership is considered the best long term investment by all age groups and most income levels.

West Chester Ohio features a large and varied selection of homes for sale, pool communities, luxury homes, first time buyer homes and many terrific condo communities. The neighborhoods of West Chester provide for quick access to interstate highways including I-75, I-275 and I-71. West Chester along with adjoining Liberty Township, Ohio are served by the Lakota School System, a highly rated school system.

Shopping and dining are also very plentiful in West Chester Ohio with the Voice Of America Shopping Centre and The Streets Of West Chester in the heart of West Chester. Also just minutes away is the Deerfield Towne Centre and Bridgewater Falls.

Consider investing in your first home and have The Lowry Team help you. You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.

When you hire us to help you buy your first home, we want to know what you want and how much you can afford. Then we will find a way to merge these two priorities and find a residence that you’ll enjoy owning.

Contact The Lowry Team of Keller Williams Realty Associate Partners today to get in touch with a West Chester Ohio real estate specialist.

Contact The Lowry Team Keller Williams Realty

The Lowry Team is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

The Lowry Team is “Different by Design”…taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team – Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Buying A Home In Today’s Market

The 6 Most Essential Home Buyer Tips