Some fears are healthy. Many are even vital for safety and survival. Fear that stifles homeownership is highly hazardous to long-term financial health, however. A wise man once said, “There is nothing to fear — except fear itself.” This quaint quip is quite correct.
Would-be buyers of Tucson Homes for Sale commonly get cold feet. While contemplating consummating major purchases, doubts begin dominating thoughts. Soon, hesitation and procrastination set in.
The final diagnosis is full-blown development of the dreaded “paralysis of analysis.” For such unfortunates, prompt action is paramount. To avoid the tantamount to financial death, immediate treatment is indicated.
A Comparative Analysis
Bill and Barbara Buyer’s combined annual income is $64,000. Through their Tucson Real Estate Agent, they find a ranch-style residence that’s just right. The Buyers negotiate a price of $126,189ሒ. Coincidentally, this figure coincides precisely with the overall average sum paid for Tucson Homes for Sale.
Beleaguered Banker offers a 30-year mortgage with a fixed interest rate of 5.61 percent. With a 5 percent down payment, here’s how their post-purchase picture pans out.
Current rent for 3-bedroom house: $1,136.00
Monthly mortgage payment: $689.65
Purchasing their new home puts an extra $446.05 in the Buyers’ pockets each month. But, that’s just the beginning. Mortgage interest is fully tax-deductible. The Buyers shave $1009.80 from their federal tax bill in the first year of homeownership. This equals $38.ȳ in federally-funded found money every payday. What would you do with this extra filler in your financial picture, folks?
30 Years Later
The Buyers have a debt-free home worth at least $ 306,562.55. Meanwhile, they have managed to divert a total of $32,068.57 from federal tax hoppers into personal household coffers. Their former neighbors Ralph and Rachel Reticent wind up with boxes of moldy rent receipts and regrets over missing the boat.
At the present moment, multitudes of Tucson Homes for Sale may be had for mere pittances. The market’s face is revolving rapidly, however. Every day, mortgage interest inches upward. Every hour, investors grab goodies. Don’t take a licking from the ever-ticking hands of time.
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- Assure Survival and Safe Arrival on Opposing Shores in the Sea of Tucson Homes for Sale