Many people living in Conway, AR rent their homes. I have always asked them why do you just throw money away? The answer i get time and time again is, "i can't afforda a house, or i don't want to spend that much money a month."
Well folks her is the answer to them.
Renting a 1200 square foot home in Conway, AR cost the tenant any where from $750-$900 each month. That is money that is being thrown down the drain...
A 3 bedroom, 2 bathroom home in Conway, AR, that is 10 years old, has a market price of around $110,000.00. With a 30 year FHA fixed Rate mortgage at 4.5% interest (taxes, insuance, and PMI included in the payment) would run a home owner around $775.00 a month..
Benifits of owning your own home:
1. You can deduct the interest and property taxes on your tax return.
2. There is no annual increase in your Fixed Rate Mortgage payment, there might be a 3% increase annually for a lease.
3. Real Estate historically tends to appreciate, So over the next 5-10 years your home will gain value.
4.FREEDOM... Yes Freedom there is no landlord hasseling you, or telling you what you can and can't do in Your Home...
If you have any questions about the Local Real estate market please feel free ask them at
Blake Roussel
Your Central Arkansas Real Estate Specialist... I deal in: Foreclosures, New Construction, ReSale homes, Commercial and Residential Land, Farms, Hunting land. www.yourexitrealtor.com
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