Are you trying to decide whether or not you should Rent or Buy a home in Grand Isles? Below are three Rent Vs. Buy comparisons on homes that have recently sold in Grand Isles, which is a guard gated community located in Wellington Florida.
Purchase Price: $180,000:
$893 for Principal & Interest*
$150 Homeowners Insurance*
$300 Property Taxes*
$136 Grand Isles Monthly HOA Fee (Includes amenities, basic cable & gated entry)
Total monthly payment $1,479 vs. $1,700-$1,900 a month to rent a 3 bedroom home.
Purchase Price: $185,000
$918 for Principal & Interest*
$154 Homeowners Insurance*
$308 Property Taxes*
$205 Grand Isles Monthly HOA Fee (Includes front lawn care, amenities, basic cable & gated entry)
Total Monthly Payment $1,585 vs. $1,800-$2,000 a month to rent a 4 bedroom home.
Purchase Price: $305,000
$1,514 for Principal & Interest*
$254 Homeowners Insurance*
$508 Property Taxes*
$136 Grand Isles Monthly HOA Fee (Includes amenities, basic cable & gated entry)
Total Monthly Payment $2,412 vs. $2,600-$2,800 a month to rent a 5 bedroom home.
RENT vs BUY in GRAND ISLES – WELLINGTON FLORIDA
While there is no doubt your monthly mortgage payment will be less than a monthly rental payment there are several pro’s and con’s to owning or renting a home in Grand Isles.
If you become a Grand Isles homeowner you will receive tax benefits, build equity, never have to worry about an increase in rent or having to move every year and in 30 years be mortgage free.
However when purchasing a home in Grand Isles you might have to come up with a down payment and closing costs. The most popular loan programs, VA, FHA & Conventional, offer as little as 0-5% down to those who qualify. You can also ask the seller to contribute towards your closing costs, most lenders approve a contribution of 3%-6% of the purchase price, which will typically cover all of your closing fees.
One benefit most Grand Isles tenants enjoy is zero responsibility when it comes to home repairs or exterior maintenance, which as a homeowner you will be responsible for these items, but you will never have to ask for permission to paint a bedroom, hang a picture on the wall or add a pet to your family.
BUYING: If you are thinking about buying a home in Grand Isles contact me today to review your options and I will be able walk you through the entire buying process.
RENTING: If buying isn’t an option, but you are interested in renting a home in Grand Isles you can fill out our Online Rental Questionnaire and receive a list of homes for rent that meet your needs.
You can start searching homes for sale in Grand Isles – Wellington FL now:
Showing properties
1 - 14 of 14.
See more Grand Isles Homes for Sale in Wellington FL.
(all data current as of
5/21/2013)
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$395,000 : 11143 Grandview Mnr, Wellington5 beds, 3 full baths
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$350,000 : 11134 Alameda Bay Ct, Wellington5 beds, 3 full baths
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$389,900 : 11192 Nantucket Bay Ct, Wellington4 beds, 3 full baths
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$289,900 : 3504 Miramontes Cir, Wellington4 beds, 2 full, 1 part baths
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$265,000 : 3629 Miramontes Cir, Wellington3 beds, 2 full baths
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$279,900 : 3672 Chesapeake Ct, Wellington4 beds, 2 full, 1 part baths
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$182,900 : 3812 Miramontes Cir, Wellington3 beds, 2 full baths
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$275,000 : 3668 Miramontes Cir, Wellington3 beds, 2 full baths
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$350,000 : 11172 Narragansett Bay Ct, Wellington4 beds, 3 full baths
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$479,000 : 11244 Narragansett Bay Ct, Wellington5 beds, 4 full baths
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$407,000 : 11200 Nantucket Bay Ct, Wellington5 beds, 3 full baths
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$269,000 : 3696 Miramontes Cir, Wellington4 beds, 2 full, 1 part baths
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$569,900 : 3782 Moon Bay Cir, Wellington4 beds, 4 full baths
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$320,000 : 3638 Moon Bay Cir, Wellington3 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
*Monthly Mortgage is based on a 30 year fixed FHA loan with a 4.625% interest rate and 3.5% down. This is not a commitment to lend and restrictions apply. Homeowners Insurance will vary, an estimate of 1% of the purchase price was used. Property taxes will also vary, an estimate of 2% of the purchase price was used and when purchasing a home in 2011 property taxes will be based off the current homeowners rate.
{ 1 comment… read it below or add one }
Beautiful Houses. In my own opinion, I’d rather own a car than rent.