HōM 406

LIVE BOZEMAN STYLE

News

Imagine the Possibilities!

erin • Jan 17, 2020

Just Listed - $295,000 - 4018 Broadwater, Bozeman, MT 59718

Financing Scenarios - Under $1800 a month
Home ownership, is truly the American dream, especially in Bozeman, MT where $1,766.67 is the average rental cost for a three bedroom property in 2020 (according to Numbeo.com). Instead of buying your landlords house, why don't you purchase a home for yourself? Either way, you are paying someones mortgage!

According to Fairway Mortgage, there are at least three fairly accessible scenarios where you could be paying nearly the same (or less) than a rent payment while building your own future. FHA, Conventional or Investor Financing are all enticing options. Check out the infographic above and consider what option might be possible for you. Remember, rent and the mortgage payment are only roughly the same in the first year. Year two your rent will likely increase, but the mortgage can be a fixed cost... for thirty years!

A personal note about real estate investing:
I purchased my first condo in Bozeman at 23 years old thanks to a downpayment gift from my Grandparents and great local lenders! When I purchased that condo (ok, it was a few years ago now) the total mortgage payment was $700± roughly the same as rent at that time. When I sold that unit, the condos were renting for $1500± a month and my mortgage was still $700±. I was able to live alone in a market where most of my friends had at least one roommate.

I can't imagine how I would be where I am today without that first big step! Added benefit, when I sold that condo I had roughly $100,000 in down payment for my next house - meaning I purchased a three bedroom single family home for a lower monthly cost than renting, year one. The following years are all growth opportunities and I've maintained affordable living (with the flexibility of having a dog and the opportunity to paint whatever I wanted, when I wanted) while growing my personal portfolio. 

Are you ready to take the leap? Let's explore what is possible together... maybe 4018 Broadwater is the perfect property for you!

$25,000 Selling and Bonus and Buyer Income Opportunity!

By erin • 25 Aug, 2023
Vacation Rentals by Owner (VRBOs) are so hot right now even Celeb’s are getting in on the action, listing their properties for rent to the VRBO & Airbnb marketplaces. Capitalize on the frenzy with 6613 Blackwood in Bozeman!

Understanding Property Taxes: Why Mill Levies are Your Friend!

By erin • 31 Jul, 2023
This is a subtitle for your new post

Interest Rate Buy Down's

By erin • 30 Jun, 2023
This is a subtitle for your new post
More Posts
Share by: