The question of should I rent or buy a home has been around forever. With rent prices rising, now is the perfect time to reconsider your housing options and figure out if owning is cheaper than renting.
The first thing you need to decide is how long you’re planning on living somewhere. If you only intend to stay for a year, renting is usually the better option. Renting has upfront costs that are lower than a down payment to buy a house and you often receive this money back when you’re finished renting. Buying a home requires a down payment, which is a certain percentage of the sale price or home’s value.
Also be sure to consider the benefit of stable monthly costs with a mortgage vs renting. Keep in mind with a mortgage, you can have the monthly cost fixed and it will be consistent until you have paid off the amount due. Often landlords will raise rents at the beginning of each year. This may be a small percentage raise, to hundreds of dollars added to what you initially thought you were going to pay.
If you are still wondering whether you should rent or buy, check out Mel Foster Co.’s rent vs. buy calculator. You can enter the price of the home with your expected interest rate and find out what your monthly payment will be. You can compare this to your monthly rent payment, and determine if buying a home would be a better solution for you.
The Mel Foster Co. Color the Quads committee is pleased to announce the charity recipients for the fourth and final Color the Quads race to be held on Saturday, May 21, 2016. The 2016 charities are Jordan’s Joy, NAMI (National Alliance for Mental Illness) Greater Mississippi Valley, and YMCA for Camp Abe Lincoln and Youth Solutions Programs. In 2015, the Color the Quads event raised over $73,000 that was distributed to local charities, 3 main charities and 13 other charities, and a similar goal is in place for fundraising in 2016.
Michelle McMullen with Jordan’s Joy said, “Jordan’s Joy is extremely honored to have been selected as a 2016 Color the Quads charity recipient. Jordan’s Joy supports families battling life-threatening illness or facing life-altering events by filling funding gaps for comfort items, meals, gas cards, or medical bills that are not traditionally covered by other charitable sources. We are thrilled to be involved in one of the area’s premier events and look forward to our partnership in 2016!”
“We are grateful that Mel Foster agents and employees continue to support NAMI outreach efforts. Funds raised through Color the Quads will be used to bring even more education to Quad Cities families to effectively support a loved one living with a serious mental health condition,” said Michael Freda, board president, NAMI Greater Mississippi Valley.
“Our community and our YMCA is made healthier and stronger by the volunteers who bring together great people with events like Color The Quads,” said YMCA CEO Brad Martell. “Color The Quads helps more kids, families, adults and seniors have access to healthy programs at the Y.”
Lynsey Engels, president of Mel Foster Co. Brokerage Division and Color the Quads committee chair, said, “We are thrilled to partner with three amazing charities on this colorful community event. We look forward to giving the participants another fun filled day with an exciting race course for 2016!”
The 2016 Color the Quads 5K will take place on Saturday, May 21 near Cumberland Square at 2300 Spruce Hills Drive, Bettendorf, Iowa. Registration fees and sign up date will be announced before the end of this year. Stay tuned at www.colorthequads.com for more information.
About Mel Foster Co. Inc.
Mel Foster Co. is a recognized leader for real estate and insurance. Mel Foster Co. Real Estate specializes in residential sales and offers services for a broader spectrum of property transactions including commercial, farm and land, land development and management, relocation and new construction. Founded in 1921, it is one of Iowa’s largest independently owned real estate companies. Mel Foster Insurance was founded in 1932 and represents over 25 insurance carriers and offers coverage for residential and commercial clients.
About Jordan’s Joy
Jordan’s Joy was established in memory of Jordan Schmidt. Jordan was a true hero that passed away at the age of 15 from a rare and aggressive form of cancer. Though he faced tough battles, his spirit and positive attitude never wavered, and he was an inspiration to all that knew him. The purpose of Jordan’s Joy is to fill the void that a Quad City family may have while battling life-threatening illnesses that cannot be met by other charitable organizations. 100% of the funds raised by Jordan’s Joy stay in the Quad Cities and go to local families, as all operating expenses are donated by a local business.
About NAMI Greater Mississippi Valley
One in 10 children and one in four adults experience a serious mental health condition in any given year. This grassroots organization is an affiliate of the National Alliance on Mental Illness, providing support, education and advocacy to individuals and families living with mental illness. It serves residents in Muscatine, Clinton, Scott Counties in Iowa and Mercer, Henry, Rock Island Counties in Illinois.
About the Scott County Family Y
The Scott County Family Y has been serving Eastern Iowa since 1858. We build a stronger community through Youth Development, Healthy Living, and Social Responsibility. Today, we serve 1 out of 3 people in Scott County.
You’ve decided to sell your house, but how do you make sure potential buyers see it at its best? Follow these golden rules to properly stage your house and get the top dollar when you sell.
1. Remove personal items from your home.
When someone is looking at your home, you want them to be able to see themselves living there. If you have pictures of your family and friends, it seems less like a blank canvas for someone to paint their own story on and more like a stranger’s home. You want potential buyers feeling all of the possibilities that come with buying your house.
2. Maximize the space in your home.
You want your home to appear as large as possible. You want to present a clutter free home that looks taken care of, and capable of holding someone else’s possessions. You want buyers to imagine their things in the home, which is difficult to do if it looks cramped. A major mistake people make is trying to hide everything in closets, which makes it appear as though the home has no closet space. Consider renting a storage unit for nonessential items while your home is on the market.
3. Make sure your home is clean and sanitized.
This may seem like a no brainer, but you want to be sure your house is sparkling clean. Clear off and wipe down counter tops, and make sure bathroom floors are cleaned. A simple trick to make your home seem more open and clean is to hang up small white bath and hand towels to create a spa like feeling to your home. You want your home to look spotless so potential buyers know it has been taken care of.
4. Modernize your home furnishings.
You want your house to look up to date so there is less work for a buyer to do after purchase. Update your older cabinets with a fresh coat of paint and new silver or stainless steel handles. It’s a quick, affordable switch that can make your home look more modern. Don’t neglect your floor either. Something as simple as adding a new rug may really tie the room together.
5. Use neutral colors in your home.
You may love your daughter’s bright pink room, but it may alienate potential buyers. It may clash with their furniture and be seen as an additional project that might deter them from buying your home. Try to stick to more neutral colors such as grey or white so anyone can be pleased by the color scheme. You can also use this strategy for setting a table or kitchen island, so it creates a nice calming feeling when you enter the room.
