Rent Vs. Buy? Checkout This Great Opportunity in Village Shires in Holland PA

This 1 Bedroom, 1 Bath, 733 sq. ft. condo in Village Shires recently dropped it's price to $118,900! This is a phenomenal deal as the lowest price for a 1 bedroom in Northampton this year was $153,000.

3023 Shepherds Way

Following is a closing cost estimate using an FHA Loan which only requires a 3.5% Down Payment and allows the seller to give the buyer a 6% Seller Assist reducing the buyers closing costs to under $5,000. The closing cost estimate below is based on a 4.5% interest rate on an FHA Loan, and includes paying the first years homeowners insurance estimated at $500 per year, paying the monthly & quarterly association fees, completing all home inspections estimated at $620, and escrowing the homeowners insurance monthly. So everything is included so there aren't any hidden costs.

Village Shires 1 bedroom condos tend to rent between $900 - $1,000 per month. The estimated closing cost above has the buyer paying $1,100 per month so for just $100 you can urchase rather than rent in the same development. The tax write offs the buyer would receive for Mortgage Interest & Real Estate Taxes would be just over $7,000 per year which would make up for the slightly higher cost.

On top of this you would own your own home instead of being subject to your landlord raising rent each year and considering the lowest price this year for a 1 bedroom condo in Village Shires was $153,000 every upgrade you made would be a sound investment. I personally toured this home & you could just move right in although I would replace the carpets myself. I can't speak for the utilities as you should always have a home inspector review the house, but it looks like the costs to move in could be fairly low.

If you've been thinking about buying intead of renting give me a call for a one on one no pressure no obligation consultation to discuss your situation. For a private showing of 3023 Shepherds Way just give me a call.

Dale Cosack

#215-860-4067

dale@thecosackteam.com

The postings on this site are my own and do not necessarily represent Prudential Fox & Roach's positions, strategies, or opinions.

Information re: homes listed for sale & recently sold properties was obtained from Trend MLS and the properties contained in the list were listed and sold by various participating Brokers in the MLS. If your property is currently listed with a Real Estate Broker, please disregard this notice. It is not our intention to solicit the offerings of other Real Estate Brokers. We co-operate with them fully. An independently owned and operated member of Prudential.