Buying vs. Renting

Homeownership feels different

Most purchases take time before they truly pay off. A home is different. From the day you move in, you’re not just paying for a place to stay — you’re building something that’s yours and enjoying it at the same time.

When you improve your home by landscaping, adding a patio, or updating the interior, you get immediate enjoyment and you’re also increasing the long-term value of the property.

Ownership gives you freedom

When you own your home, you set the rules. Paint the walls, update the kitchen, listen to music, do laundry at midnight — it’s your space, and you don’t have to ask permission.

There are financial advantages, too

Homeownership also comes with meaningful tax benefits. In many cases, mortgage interest and property taxes can be deducted, which can significantly reduce the true cost of owning compared to what it looks like on paper. This often makes owning more affordable than people expect.

How much home can you afford?

As a general guideline, lenders prefer that your monthly housing payment (including principal, interest, taxes, and insurance) stays around 28% of your gross monthly income. When all monthly debts are combined, that total is usually kept around 36%.

Here’s a simple example. If a household earns $24,900 per year, that’s about $2,075 per month before taxes. Based on common lending guidelines, that family might qualify for a housing payment around $580 per month using the 28% guideline, or around $745 when using the 36% total-debt guideline.

Keep in mind that your actual payment will depend on the loan amount, interest rate, and loan term.

How we help

As your real estate team, we can show you any home that’s available — no matter who has the listing.

We simplify the process by helping you sort through the available properties in the areas you’re considering, saving you time and frustration.

We’re also happy to attend open houses, new construction tours, and private showings with you at times that fit your schedule.

There is no cost to you to have The Stewart Team represent you. We’d love to help you explore your options and find a home or condominium that fits both your lifestyle and your budget.

Start with Stewart.