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Renting Vs Owning

by The Stone Wood Team


Some would-be buyers have emotional reasons to own a home like having a place of their own where they can raise a family, feel safe and secure and enjoy their friends’ company. Other buyers’ dominant reasons might be financial in nature such as building equity or lowering their cost of housing.


Regardless of what might be motivating people to want their own home, it is easy to justify that now is a good time to purchase. Let’s look at a $250,000 example using a FHA loan.

The total payment will be about $1,835 dollars a month. If the payment is lower than the rent a person is paying, that should encourage a person to continue investigating.

In this example, when you consider the monthly principal reduction, the monthly appreciation and the tax savings, even with money added for monthly maintenance, the net cost of housing is less than half the total house payment.

Considering all those advantages, the would-be buyer is spending over $1,100 per month more to rent than it would be to own. In a year’s time, they would lose close to $14,000 which is more than the down payment of $8,750 required on this price home.

Most would-be buyers understand that a home is a big investment but they may not understand the advantage of the leverage caused by the low down payment mortgage. The benefits extend beyond a return on the down payment but to the value of the home.

In this example, the $8,750 down payment grows to an equity of $73,546 in seven years based on 2% annual appreciation and normal amortization on a 30-year loan. If you calculated that as a rate of return, you’d be challenged to find anything that could compare with it.

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To see what your numbers might look like, check out this Rent vs. Own. If you need any help or have any questions, contact us. Part of our greatest satisfaction is helping would-be buyers understand why they should-be.

Washington DC Early Cherry Blossoms Peak Bloom

by The Stone Wood Team



With such warm weather this winter, many people are wondering when the DC Cherry blossoms with bloom and be at their peak! On February 24, the indicator tree had sprouted green buds so some experts have predicted that the peak bloom will occur around March 15-19.

Tomorrow, March 1, The National Park Service will be announcing their prediction at a press conference. 

Keep up to date at CherryBlossomWatch.com

Halloween Events in Old Town Alexandria

by The Stone Wood Team

Ghost ToursFollow a lantern-carrying guide who gives you lots of early history, a little suspense and mystery and a dose of "ghost." Tour begins at Ramsay House Visitor Center! It's great for kids of all ages and large groups. Oct 29-31

Poe In Alexandria - Actor David Keltz returns to The Lyceum’s lecture hall to re-create Poe’s visit to Virginia in 1849, shortly before his death. Enjoy a night of spooky stories and classic poem readings! Oct 30-31
 

Chadwick's Monster Ball -  Feast and drink to your heart's desire! There will be devilish drink specials, a costume contest, and killer tunes all night. They promise that you'll have a howling good time. Oct 29
 

Boo Cruise - Experience a spooky cruise on the Potomac! The ever-popular Halloween BOO Cruise aboard Spirit of Mount Vernon is a Halloween party to take your costume game to a whole new level! Come decked out in your Halloween costume to participate in a live costume contest for the best getup. Oct 29
 

Doggy Trick Or Treat - We can't leave out our furry friends now! Come to The Dog Park in Old Town Alexandria to get your map and have pictures taken. Then tour the rest of the participating stores to get more treats and find a sale or two in town! Oct 30
 

Del Ray Halloween ParadeThe 20th Annual Del Ray Halloween Parade begins at Mount Vernon Ave., south of E. Bellefonte, and continues down to the Mount Vernon Recreation Center play fields at Mount Vernon and Commonwealth Avenues. Children, pets and strollers in costumes are invited to march and show off their finest and scariest Halloween garb with prizes in different categories. The parade and all activities are free! Oct 30
 

Bootiques - Start trick-or-treating early and stop by the dozens of shops of the Old Town Boutique District dishing out treats to goblins and ghouls of all ages from 2 to 6 p.m.! Oct 31

Displaying blog entries 1-3 of 3

Contact Information

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Stone Wood Team
EXP Realty
2165 Jamieson Avenue
Alexandria VA 22314
Office: (703) 739-4663
Office: (703) 739-HOME
Fax: 703-683-9692