KNOWING IF YOU ARE READY TO BUY A FLAGSTAFF HOME

You have to stop and ask yourself, am I ready to own a Flagstaff home
Throughout history home ownership has proven to be one of the smartest
investments you can make. You need to determine whether you are
ready. The responsibilities are huge – mortgage payments, taxes,
maintenance cost, utilities and, of course, the responsibility of taking
care of the house. If you are, then congratulations – you’re about to
embark on the journey of your life!

Why Do we buy 1st or even 2nd Homes

There are many reasons why different people choose home ownership.
Some enjoy owning a piece of the American dream. Others do it for the
potential financial rewards ‐ after paying off your mortgage you can
own your home free and clear of debt. Still others want something that
is their own – they can expand, paint, decorate and renovate – to make
it exactly what they want. What ever the reason, millions of people buy
homes every year.

Would chosing to rent be better for you

Many people instead choose renting in Flagstaff. Renting in Flagstaff has both positive and
negative areas, and I would like to tell you a bit about them.
Positives of renting:
• There is less to be tied to. It is easier to get out of renting then selling your Flagstaff home.
• Living somewhere befor you buy can benefit you in the future.
• Haveing a job t that causes you to move frequently and can make a lifestyle change quickly
• There is no upkeep with repairs and maintenance.
• Renting can keep your debt, especially long term debt down.

There are Some negatives to renting in Flagstaff as well

• You are paying someone else’s Flagstaff mortgage, Flagstaff taxes and putting
money in their pocket
• No tax deductions for renting a Flagstaff home
• You are not building any equity in Flagstaff real esatet
• You are less likely to establish yourself in the Flagstaffcommunity
• You will have to move if the owner chooses not to re‐rent to
you when your lease expires
• What you rent is what you get, unlike a property you own which
can be renovated and customized. Except for furnishings you
really cannot change a rental.
• Rents climb while mortgage payments in Arizona remain fixed.