Deciding whether to rent or buy is contingent on several variables the foremost, of course, being your financial situation. If you haven't saved enough for a down payment, renting may be your only option. However there are loans available when you save as little as 3% of the cost of the home and can get you on your way to home ownership.

Perhaps owning a home isn't a personal goal of yours or you like the idea of being able to move more readily, have a job that tends to relocate you frequently, or you're still searching for that “perfect” area. Renting then becomes the obvious choice.

Others like the idea of owning a home but don't want to take on the responsibility of repairs and maintenance. They like the predictability of the monthly expenses without worrying about having to replace a leaky roof or purchase appliances unexpectedly.

Owning a home, on the other hand, offers benefits such as personal satisfaction in your house, stability, building equity and tax breaks. You also have all the freedom to decorate and remodel as you please, making the place feel more personal.

Either decision still requires you to have a steady income and a manageable debt-to-income ratio that landlords and banks will both look at when determining whether to accept you as a tenant or give you a loan. You must be able to prove your income and have a solid credit score.

Renting gives you time to build up your credit score, observe the maintenance required in up-keeping a residence, and deciding on amenities you'd like in your next home.

Some argue that renting is throwing your money away but owning a home has its pitfalls as well. Home prices fluctuate and sometimes market changes overall or in your general area can impact how much equity you can build though home ownership has proven over time to be a solid investment.

Many these days are purchasing homes and then leasing a portion of their home which covers some or all of their mortgage payments, making your home a money-making investment quickly while also creating an inexpensive home for you.

Whether you buy a home or decide to rent, there are still many criteria you should take into account before you sign your lease or mortgage. A good Realtor will help you make a sound investment or help you plan for your first purchase when you're ready.

Resorts with Discounts

Not many people vacation in Alaska in January. Similarly, not many people visit Phoenix in August. While I can't vouch for what Alaska offers their residents during their dark and freezing winters, I can tell you that life in the desert is fun-filled and less expensive!

Because summer is our low season for visitors, our 4-Star Hotels and Golf Courses offer generous discounts to year round residents. When you present your driver's license or similar, you can get hot deals during the hot summer at these amazing resorts: The Phoenician, The Palms, The Four Seasons, The Princess, The Biltmore and the Boulders. Not only that, but tee times are more available at morning and dusk times for die hard golfers.

The Troon Card which offers discounts on courses all over the valley is available for purchase but many of the resorts also reduce their fees for Arizona natives from Mid-May until September.

Staycations at these beautiful luxury resorts are a hot secret to the locals.

And while I can't imagine why anyone would want to go to sub-zero temperatures with 23 hours of darkness in January, I can offer hundreds of reasons why you should visit Phoenix during the summer.

Yes, it's hot – so what; we have air conditioning and pools. We also have extensive night life and artistic venues to keep you entertained. Go golf or hike early in the morning. Nap poolside in the shade to refresh in the afternoon. Then head out to see a concert or comedy show or just luxuriate in the spa at any of these elite spas.

Come see what the desert has to offer at great discounts for the daring.

https://www.thephoenician.com/offers/summer-escapes/

https://www.gurneysresorts.com/scottsdale/offers/hot-dates-cool-rates

https://www.fourseasons.com/scottsdale/offers/

https://www.hyatt.com/en-US/hotel/arizona/royal-palms-resort-and-spa/phxub/offers?src=prop_PHXUB_ub_nplk_Vanity_SpecialOffers_Link_Oct2019

https://www.scottsdaleprincess.com/special-offers/arizona-residents-offer

https://www.arizonabiltmore.com/offers/25-off-summer-staycation/

https://www.theboulders.com/special-offers/all-packages.html

https://www.troon.com/troon-golf-cards/

https://tpc.com/scottsdale/special-offers/

http://www.golfarizona.com/courses/phoenix/ocotillo-golf-club.htm

http://www.golfarizona.com/courses/scottsdale/kierland-golf-club.htm

http://www.golfarizona.com/courses/scottsdale/phoenician.htm

Indoor Kids Fun

The summer in the desert can be too hot for kids to play outside. If you grew up in a place that had super cold winters, just remember all the things you did as a kid and apply! Indoor forts. Playing at other houses. Roller rinks. Ice skating rinks. Etc.

There's plenty to do to keep the kids cool and safe during the Phoenix summer. Arcades, indoor gyms, museums, trampoline parks, crafting shops, theaters, and indoor sports leagues.

Here are some of Phoenix' fun spots:

https://childrensmuseumofphoenix.org/

arcades

glow in the dark mini-put

https://www.phoenixwithkids.net/odysea-in-the-desert/

Ice Den

https://www.unitedskates.com/great-skate/

https://www.hoopcode.com/

https://barneyindoorsports.com/

https://phoenixsportscenter.leagueapps.com/

Entertainment

There is a vibrant night life in Phoenix and Scottsdale. Roof top bars that are quite comfortable on hot summer nights which are a great stop before hitting the clubs, theater, or a comedy show. No matter what you like to do, the Valley has you covered.

During the day, pick out your evening outfit while shopping at the beautiful Fashion Square Mall. High end stores such as YSL, Gucci, Prada, Balenciaga, Cartier, Dior, and Louis Vuitton await you. There's also a food court, restaurants, and a movie theater.

Want to see a ballet? Go to the Opera? What about the Symphony? They are all available to you in the Valley! The Symphony also has amazing pop up events around town, performing at the Zoo, the Botanical Gardens, and other venues around town.

Theater is also alive and well in the Valley. From Broadway plays to local troops, and even children's theater companies, you can catch a great show just about any night.

For an evening a little less highbrow, Phoenix, Scottsdale, and Mesa boast a number of Comedy Clubs where the big name performers come to entertain. David Spade, a Scottsdale native, performs occasionally at the Celebrity Theater; Margaret Cho, Kevin Nealon, and others frequent the improv clubs around town.

Live music venues abound where you can grab a cocktail and enjoy dancing and letting go.

If you're fortunate to live in the area, June Days in Old Town Scottsdale offer fun activities all month, from wine tasting to painting classes where you can pick up a new hobby and make friends.

Here are a few places you can try out for some evening entertainment.

https://phoenixtheatre.com/

https://www.celebritytheatre.com/ concerts/comedians

https://www.tempeimprov.com/

https://improvmania.net/

https://copperblueslive.com/phoenix/

https://oldtownscottsdaleaz.com/junedays/

Educational & Fun Museums

I can promise you that there is a museum in the Phoenix area that will interest you! From history, science, art, to Native American Culture, Phoenix has collections of awe inspiring artifacts across all fields.

We know you want to stimulate, entertain, and exhaust your kids! Phoenix children's museums offer an abundance of hands-on and interactive experiences to keep the kids engaged and learning while having fun.

The Music Instrument Museum in Old Town Scottsdale is a fan favorite. Learn the history and development of your favorite musical instrument and all its variations. Plus enjoy making some of your own music with their daily kid activities.

Everyone MUST go to Odysea in the Desert – you have to. The butterfly garden will enchant everyone, the aquarium is stunning, the dinosaur exhibit enthralls the kids, plus you can have lunch and hit the Rocky Mountain Chocolate Factory. Don't miss it.

It might be too hot to walk the zoo in Phoenix, but you can drive through the Bearizona Wildlife Park and learn more about Black and Grizzly Bears. You might even get to meet a javelina or two – and if you don't know what these rodents of unusual size look like, you're in for a surprise! You can dine in their on-site restaurant too.

One of the most interesting environmental experiments continues to take place between Phoenix and Tucson at Biosphere 2. Learn how scientists enclosed themselves in this self-contained habitat to see how they could be self-sufficient. You'll learn what did and didn't work (there were some very sad coffee drinkers when they couldn't get coffee beans to grow). Also, this is where we discovered that trees rely on wind for their root strength. It's definitely a learning experience for kids of all ages.

The Idea Museum in Mesa has sections for all ages. The under 4 crowd can enjoy the Art Station where they can play with big blocks; A theater area with costumes and hats where kids can walk behind a curtain and give an unscripted show; A kitchen with lots of plastic food, with cooking preparation areas and tables; A home, next door to the kitchen, where you can sit and read books, or play with toys; Art studio where you can draw and paint on easels; A baby and toddler area; An area with cool light tables where kids can play with refracted light.

Then there's The Hub where kids can dive into crafts of all kinds. No one will be bored here!

The Children's Museum of Phoenix has summer camps for exploring and right now is offering a foam party experience with lots of bubble to play in! It's definitely a place to grow your child's imagination and build interest in science.

Here are the links to check out these fun-filled kid friendly places.

Heard Museum

https://www.phoenixwithkids.net/idea-museum-mesa/

https://www.phoenixwithkids.net/odysea-in-the-desert/

https://www.mim.org/

https://childrensmuseumofphoenix.org/

https://bearizona.com/

https://biosphere2.org/

Indoor Activities for Groups

We all love a good pool party but when the sun gets too hot in July and August, we look for other fun group activities that are shielded from the sun.

Phoenix and Scottsdale offer an abundance of fun activities. There's always the fall backs like bowling and movies, but how about watching a ball game in an air-conditioned field? Chase stadium will protect you and your friends from sun burns and monsoon storms while taking in America's favorite past-time.

If you want a bit more activity, there's Top Golf where you can work on your swing while having cocktails with your friends. Perfect your game and you don't have to be quiet!

Okay, who doesn't love go-cart racing? Phoenix has K1 Speed to let you feel the excitement again! Bring your group, race, compete, smack talk, and then have a burger and a beer. It's so much fun you'll go back again and again.

For the adventurous yet reserved, indoor sky diving will help you get your courage up to try the real thing; or find out you don't have what it takes to jump out of a perfectly good airplane.

Here are the links to get tickets and reservations for these great activities:

https://www.mlb.com/dbacks/ballpark

https://topgolf.com/us/

https://www.k1speed.com/phoenix-location.html

https://www.iflyworld.com/phoenix/

Have Fun & Stay Fit

When it's 110 degrees outside, jogging and even walking can be dangerous. So during the summertime, Phoenicians know how to handle the heat and take their fitness activities indoors.

As always, there are die-hard mountain bikers and hikers who brave the desert heat, but for the rest of us who want to stay in shape without getting heat stroke, we get creative!

Of course there are a myriad of health clubs from The Village to Lifetime, to country clubs, and box gyms, but there are also a few niche sports that have their own venues.

Pickle ball has taken the country by storm and now Chandler has premier indoor courts for year round comfort.

Maybe you miss the skating rink? We have several ice rinks in town as well as roller skating. The ice rink is incredibly cool and refreshing on a hot summer Phoenix day!

You can build strength and maybe make it onto American Ninja Warrior when you learn how to rock climb at AZ on the rocks! Indoor rock walls will challenge your strength, balance, and courage as well as give you incredible grip strength without getting a sunburn.

Or perhaps let your inner child out and join a Kickball Team! Yes, kickball. The rules are simple: kick the ball and run! Great exercise and from what I hear, there's quite the happy hour that follows.

These are only a few indoor activities that will keep you in great shape in Phoenix during the hot season. You can also find indoor volleyball, tennis, and martial arts.

Here are a few links to get you started on finding indoor fun in Phoenix!

Indoor Fitness:

Pickleball Kindgdom.

Ice Den

AZ on the Rocks has something for all ages

https://www.phxfray.com/sport/kickball/

So, stay inside and have fun!

Websites Designers Use That YOU Can Too

Have you moved into your dream home and found out that your old furniture just isn't cutting it? Maybe you want some new lighting pieces or artwork that will make the place “yours.”

Of course, you can hire an interior designer but if you like to go the DIY route, it helps to know where to get the best ideas, furniture, and accessories from places the designers use themselves.

Wayfair, IKEA, and Amazon offer common products, but if you want to be more unique and stylish, check out these stores.

For the budget friendly:

Structube – Modern furniture to update your space.

Article – Modern furniture with a focus on mid-century modern.

Poly & Bark – Free shipping and returns for this whole house renovation site.

Equilibrium – Canadian made furniture and great prices along with design services.

Rove Concepts – Elegant indoor and outdoor furniture.

For the unique finds:

Aretmest – Curated handmade décor and furniture

Schumacher – From design to bespoke articles, you'll find tons of inspiration here.

Circa Lighting – You won't see these Light Fixtures in your neighbor's homes. Gorgeous and unique.

1^st Dibs – An auction site guaranteed to get you one-of-a-kind finds from furniture to art and décor.

If you love to decorate, redecorate, or are simply looking for a few focal pieces, all of these websites will help you create a dynamic, interesting, and totally-you space.

Whether you've been in your home two or twenty years, these tips can help you re-envision your spaces, get specific about your wants and needs, and create the “feeling”  you want your house to convey.

So how to begin?

Step 1: Purge

Yes, it's time to get rid of some things or re-purpose them. This is the time where anything that is broken must be fixed or tossed.

Step 2: Clean the House

I mean really clean the house. Deep clean every room, area rug, carpet, and window. Wipe down the cabinets, baseboards, and doors.

Step 3: Survey your home and ask these questions:

·        Would a piece of furniture improve the mood of the room?

·        Do I have a piece of furniture in a different room that would work well here?

·        Is there too much furniture in the room? Does it feel crowded or cramped?

·        Would the room feel brighter and more open if I rearranged the lighting or added more lamps?

·        Could moving the furniture around make the space more inviting?

·        Are there items in the room you don't even notice that could be parted with?

·        Do you really need to keep that gift you don't like out on display? (Even if you love the person who gave it to you??) The answer here is NO. You have my permission to hide it in the basement and take it out when the gifter comes to visit.

Step 4: Check out Pinterest

Pinterest is safer than watching home shows where they remodel a home over a week. That's not going to happen. Really, it's not. Create a few mood boards on Pinterest to help define your taste and understand the look you're going towards.

Step 5: Be more particular about your purchases

Trendy, cool looks are fun for sure, but are you willing to re-decorate every 5 years for the next trend? Traditional pieces and designs that have held the test of time can be updated without extravagant costs. Save trendy for accents like pillows.

Step 6: Paint

Paint anything and everything you like. Cabinets. Walls. Furniture. You can hire professionals or get crafty and transform a home completely just with paint. It's one of the most cost effective ways of updating your home.

Step 7: Decorate with Houseplants

I'm not talking about creating a jungle, just a few pieces to accent a room. There's something about a little greenery that perks up any room.

Step 8: Buy Pretty Storage Bins Baskets

You might be surprised what you can pick up at Walmart or estate sales. Keeping your home organized brings a feeling of calm and peaceful to your life.

Step 9: Change the Window Treatments

Okay, draperies can be expensive but maybe you can switch them to another room or create a new look by adding sheers or a different hanging rod.

Step 10: Invite Friends Over

Create a gathering with people you love. Inviting people into your home for a relaxed evening like cocktails and hors d'oeuvres brings the house to life and gives your the opportunity to show off all your hard work.

I hope that once you finish your home revision, you'll see all the things you fell in love with when you first bought it.

If not, call me and we'll look for a new home. I'm sure yours will sell quickly now!!

Cost to Rent vs. Buy in 2022

**Owner Occupant Buyers Retreated in 2021

For Buyers:

As the cost of purchasing a home increases in Greater Phoenix, the question of whether to rent or buy becomes harder to answer for some buyers. The overall median cost of a home is currently $425,000, and for a typical 1,500-2,000 square foot home, the median cost is $420,000. The estimated payment, assuming 10% down and including principal, interest, taxes and insurance, is $2,123. The median monthly rental rate for the same size range, recorded through the Arizona Regional MLS, was $2,195 in the 4th quarter of 2021; just $72 per month more.

Some buyers might question the advantage of purchasing a home in order to save $72 per month. However, the financial advantage of owning vs. renting is typically realized for those who own their home for at least 3-5 years.

Let’s assume, hypothetically, that a buyer purchased a home today for $420,000 with a $42,000 down payment (10%). Over the next 5 years, their home’s value fluctuates up and down and in the end doesn’t appreciate. That may sound horrifying, however during this time the loan principle has been paid down to $336,000. The homeowner’s equity has doubled from $42,000 to $84,000 without their home appreciating a dime, and with 20% equity they no longer have to pay private mortgage insurance. Their payment declines $200. Still a win.

Now let’s assume, hypothetically again, that while our homeowner is paying down their loan, the home value fluctuates up, down and sideways, but still averages a 6% appreciation rate over 5 years (close to the current rate of inflation). The home would then be worth $562,000, an increase of $142,000.

After 5 years, this hypothetical homeowner went from $42,000 to $226,000 in equity, and their monthly cost was nearly the same as what they would have paid in rent anyway. For this reason, even when the monthly payment required to buy is close to that to rent, buying still wins in the long game.

Mike Balzotti