It’s the age-old question:
Should I RENT or BUY?
The answer can be complex ... Whether you RENT or BUY depends on your unique lifestyle needs, financial situation, job situation etc...
BUT...What If We Showed How YOU Could Be £18,580.86 Better Off BUYING Rather Than RENTING?
If you've ever thought buying your own house ... look again as with Axminster Homes 'Cash Back' and the Governments 'Help to Buy' the cost is almost the same ... yet BUYING your own home gives you a massive advantage of building equity ...ie you keep the deposit and your home will grow in value each and will almost repay the cost of your mortgage repayments.
The comparison chart below list the costs over 24-months for RENTING and BUYING, then shows the difference between the two in the middle.
RENT or BUY Comparison
NEW 2 bed home
RENT DEPOSIT COSTS
Agents fees... £386.00
Deposit ... £1,398.50
RENT x 24-MONTHS
(£675 / Month)
TOTAL PAID OUT AFTER RENTING 24 MONTHS
TOTAL ... £17,598.50
RESIDUAL OR RETURNED MONEY AFTER RENTING 24-MONTHS
TRUE COST AFTER RENTING 24-MONTHS
RENTING ... £17,598.500
COSTS YOU £16,586.00
Cost over 24-Months Renting
THE BIG DIFFERENCE
The difference in COSTS TO YOU!
YES...BUYING Costs MORE ... Upfront!
The DIFFERENCE Starts with lower monthly payments
MORTGAGE Costs LESS ...
SO...Over 24-Months with BUYING you payout just a little MORE
THE BIG DIFFERENCE!
BUYING CREATES EQUITY IN YOUR HOME... COMPARED TO RENTING! SO YOU COULD BE SAVING...
BUYING COULD SAVE YOU
COMPARED TO RENTING OVER 24-MONTHS
It PAYS to BUY!
NEW 2-bed Apartment
BUYING DEPOSIT COSTS
Sub Total ... £12,805.50
- CASH BACK*... £5,198.50
MORTGAGE x 24-MONTHS
(£543 / Month)
TOTAL PAID OUT AFTER BUYING 24 MONTHS
TOTAL ... £20,639.00
RESIDUAL OR RETURNED
MONEY AFTER BUYING
Deposit & 80% Equity Retained In Your HOME After 24-Months...
TRUE COST AFTER BUYING 24-MONTHS
BUYING ... £20,639.00
Savings made from BUYING over 24-months (Cost - Residual value in home)
NOW WITH ‘HELP TO BUY’ … BUYING IS CHEAPER THAN RENTING
Getting your first step on (or even step up) the property ladder can be so hard … NOW with the Government's ‘Help To Buy’ scheme its made it so easy for you by reducing your deposit from 25%-30% down to just 5% DEPOSIT! To make it super easy ... we are helping you further with the first time buyers 'CASH BACK' deal by Axminster Homes. We will be helping you by paying... ALL your STAMP DUTY, up to £1,000 off your mortgage fees , up to £1,000 off your LEGAL FEES and £1899.50 CASH OFF your Deposit.
That's saving you up to an amazing £5,198.50 DISCOUNT.
Location and timing are everything when making the decision to buy a home. There’s three things to check if buying is right for you...
1: Interest Rates: They are at an all-time-low and any increase would be slow. Any concerns over interested rate increases can be offset by low fixed-rate mortgages. There are currently lots of great offers.
2: House Prices: House prices in Axminster are lower than the houses in many of the surrounding areas. The overall housing costs have steadily increased year-on-year making it a good time to buy.
3: YOUR Situation: Yes… you still need to find a lot of the money upfront, as there are the set-up costs (although we can cover your stamp duty, legal fees) there's still the remainder of the 5% deposit. However, these barriers are lower now and if you can buy you’ll be making money!