Are you going to Rent forever or do you want to buy a house?

Many renters don’t realize that sometimes they can afford to buy a home.  So here is some information about what it costs to buy a home.  What a certain monthly payment will buy.  The example I am goin to use is $865 a month.  What can you get for $865 a month Metro Detroit house payment?  Many renters pay close to that if they are looking for a 2 or 3 bedroom apartment.  You can get a nice home in many Metro Detroit Cities for $865 a month.

If you

  1. Buy a Metro Detroit home for                         $80,000
  2. You have a mortgage of about                      $78,000
  3. your mortgage payment would be (est)          $445.33 a month
  4. your taxes (roughly estimated)                      $300.00 a month
  5. your homeowners insurance (estimated)         $60.00 a month
  6. Your PMI on the loan would be (estimated)     $50.00 a Month
  7. Total house Payment per month                    $855.33

$853.33 a month for an $80,000 house.  Yeah you say but what can I buy for $80,000.  And what kind of cities would I be buying in?  You probably think that they are crime ridden cities or bad areas.

Well here are some examples

The City of Livonia real estate – there are 61 Livonia homes for sale under $80,000.  They are mostly ranches and bungalows.  Most have basements.  Many have garages.  The exteriors are either brick or vinyl siding.  Most are 3 bedroom, and 1 or 1.5 bathrooms.  900 to 1300 square foot

The City of Dearborn Heights real estate – there are 241 Dearborn Heights homes for sale under $80,000.  They are mostly ranches and bungalows, though there are a few colonials.  Some have 2 car garages.  Most have basements.  The exteriors are either brick, aluminum siding or vinyl siding.  Most are 3 bedroom, and 1 or 1.5 bathrooms.  900 to as high as 1500 square foot.

Most of these cities below have homes like I described above.  Metro Detroit Homes for under $80,000

  • Warren              403
  • Garden City        117
  • St. Clair Shores   127
  • Waterford           146
  • Sterling Heights   141
  • Westland            207
  • Farmington Hills   42
  • Southfield           274

So if you are renting currently you may want to consider looking at buying a home.  On top of being able to live in your own home.  You get a tax deduction on the interest you pay.  You get to pay less income tax because you bought your own home.  Isn’t that great.  Interest rates are low, Home prices are low, and there is a lot to chose from in nice areas.  Call me if you are thinking about exploring your options to buy a home.

There are lots of Metro Detroit home bargains out there in all price ranges.  Here is another example You can buy a nice colonial home for under $200,000 in many Metro Detroit Cities.  So if you are ready to quit giving your hard earned money to a landlord give me a call to see if you qualify to buy a home of your own.

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My quote for Valentines Day

“Love is a temporary madness. It erupts like an earthquake and then subsides. And when it subsides you have to make a decision. You have to work out whether your roots have become so entwined together that it is inconceivable that you should ever part. Because this is what love is. Love is not breathlessness, it is not excitement, it is not the promulgation of promises of eternal passion. That is just being “in love” which any of us can convince ourselves we are.

Love itself is what is left over when being in love has burned away, and this is both an art and a fortunate accident. Your mother and I had it, we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two.
– Captain Corelli’s Mandolin. “Love is the beauty of the soul.” –St. Augustine

Enjoy Valentines Day with your loved one

 

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The data relating to real estate for sale on this website comes in part from the IDX program of Realcomp. Real estate listings held by brokerage firms other than Keller Williams Realty Commerce Market Center are marked with the IDX logo and detailed information about them includes the name of the listing brokers.


All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Keller Williams Realty Commerce Market Center shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.