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To rent or to buy? That is the question for many people in the Clarksville area. There are a few things to consider.
As you know, we’re in a military market. If you’re military and have been renting, the military pays a portion of your rent. What most people don’t know, however, is that you could be using that money to purchase a home and probably spend less than what you’re spending now! Your allowance for quarters will, in many cases, cover your mortgage payment!
Even if you’re not military, it’s still beneficial to buy instead of rent. Interest rates are still incredibly low and, because rates are so high here, monthly mortgage payments are often less than the cost of rent!
If you have VA eligibility, which a lot of people do here, there is no down payment involved when buying a home! If you’re not eligible, there are still many great mortgage packages available for you! We work with some of the best lenders in the business, so we would love to help you find a financing option that works best for you.
Closing costs can sometimes come out to be as much as 4% of the sales price of the house. Here in Clarksville, being a military town, depending on what your offer is, sellers will actually pay those closing costs for you! This reinforces the fact that you can often purchase a home for much cheaper than it is to rent!
If you want to find out more about whether you’re eligible to purchase a home, please don’t hesitate to give us a call or shoot us an email. We would love to hear from you!