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Joan Divincenzo's Blog

By Joan DiVincenzo | Managing Broker in 06525
  • How does buying a washer and dryer compare to buying a home?

    Posted Under: Home Buying  |  May 4, 2011 6:52 PM  |  151 views  |  No comments

    How does buying a washer and dryer compare to buying a house?  Follow my week and you will understand.   Last week my washing machine broke.  So my husband and I went off the Laundromat.  It cost us $16.00 do our laundry for one week.  I started to think, how much would this cost if I had to do this every week.  After I calculated it, I couldn't believe the number, $832.00 per year!!!  I would be renting their machine each week.
    We then finally took the time to go buy a new washing machine.  I realized that anyone can buy both a washer and dryer for about $650.00.  So why would someone go to the Laundromat each week and throw their money away?  They could pay for the washer and dryer in less than a year!
    Renting vs. buying a home has the same effect.  Think about it, if you are paying $1,200 a month in rent, you are paying $14,400 per year !  You are throwing away $14,400 a year, with no tax deduction.  When you buy your home, you not only pay down the principal you also get a tax deduction for the interest!  After 30 years, you will have paid off your mortgage and have a fully paid asset in your portfolio. If you rented for thirty years, you will have nothing to show for your money!!!
    For all of the people asking, should I keep renting or buy? The answer is never rent and always buy, whether it's a washer or dryer, or a home.  Renting, you always throw your money away!
  • The Spring Market Is Here!

    Posted Under: Market Conditions in Hamden, Home Buying in Hamden, Home Selling in Hamden  |  April 30, 2011 4:40 PM  |  197 views  |  No comments

    Spring has sprung, finally!  After a long and snowy winter, people are out and about looking for their new home. Many feel that they don't want to live in their home another snowy winter.  They just want to move to a condo, and have someone else deal with five feet of snow.  Others have waited several years to buy, now they are ready because prices and mortgage rates are at all time lows.  If you have been sitting on the sidelines, ready to make your move, now is a great time!
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