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Blog Category - New vs Used

Report Finds that a Homeowner’s Net Worth is 36 Times Greater Than Renters

Categories: Buying a Home, New vs Used, Renting a Home | Posted: August 14, 2017

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, call Kristy, our Online Sales Counselor, who can put you in touch with a Grant Sales Professional who will guide you through the process of buying a new home.

(This article was reprinted from Keeping Current Matters at

Homeownership Remains Cheaper than Rent by 38 Percent

Categories: Buying a Home, Family Homes, New vs Used | Posted: August 10, 2017

More and more 20-30-somethings are still renting and waiting to purchase their first new home. According to the latest Buy-vs-Rent survey, the decision to purchase a new home instead of continuing to rent in the Memphis Metro area is a “no brainer.”

Trulia recently released their vs. Buy Report. The report explains that homeownership remains cheaper than renting in all of the 100 largest metro areas by an average of 38%!

Check out the detailed report and see why buying a new home may be the smartest investment you could ever make. Click here to go to the report.

To find out if buying is right for you, contact any Grant & Co. Sales Consultant, who can guide you through the process of buying a new home.

The Advantages and Disadvantages of Buying or Renting a Home

Categories: Buying a Home, Instagram, Millennials, New vs Used, Renting a Home, Save Money, Twitter, Uncategorized | Posted: June 3, 2016

Buying a home is a important decision that everyone must do. But what do one do if they can’t buy a home right now? Maybe renting a home is an option. Either way,  each option has their pros and cons. Here are just a few of them. Sources: here & here



Advantages of Buying: 

  1. The cost of owning a home can be less than the cost of renting.
  2. The buyer has “forced” savings, which can be important when the buyer pays down the balance by a substantial amount.
  3. The buyer experiences tax advantages. Property taxes and interest can be itemized for tax deductions.
  4. The buyer controls the property. They have the freedom to change the home as much as they want.
  5. There are a fewer rules that the home buyer must abide by, which includes restrictions as far as pets, children, and noise goes.
  6. When mortgage payments are made on time, the homeowner can achieve a better credit rating
  7. Greater privacy.
  8. Homes typically increase in value, build equity and provide a nest egg for the future.
  9. Your costs are predictable and more stable than renting because they’re ideally based on a fixed-rate mortgage.
  10. There’s pride in home ownership.

Disadvantages of Buying: 

  1. Home ownership is a long-term financial commitment.
  2. You’re responsible for all maintenance on your home.  No landlord to depend on.
  3. Owning a home ties you to your community, making it more difficult to suddenly pick up and leave a location.
  4. Although mortgage payments are usually fixed, they’re generally higher than rent payments.
  5. Buying a home requires a down payment, closing costs and moving expenses.
  6. The value of your house may not increase – especially during the first few years.
  7. Borrowing against your home equity, to help you with a debt consolidation, for example, can leave you ‘house poor’

Advantages of Renting: 

  1. The initial investment to rent a home or apartment can be quite low.
  2.  Renting a home can be cheaper than buying a home. The funds that would normally be used can be invested into savings accounts.
  3. Your landlord is responsible for performing nearly all maintenance and repair work on the property.
  4. The renter has less of a tax impact on their financial situation and is not impacted by such items as property taxes that can fluctuate often.
  5. The renter may be able to budget easier. Rent is an amount that is fixed and may even include utilities in the rental amount.
  6. The renter has more mobility and flexibility to move since leases tend to me short-term. Most leases are for 12 months. So, if your job requires you to move frequently, renting can be a desirable alternative to owning.
  7. Insurance costs are lower for renters because the renter only needs to insure the contents of the rental property and not the structure itself.

Disadvantages of Renting:

  1. You won’t be able to claim any deduction for mortgage interest and property taxes when you file your tax returns.
  2. Your housing costs aren’t fixed like they are with a fixed-rate mortgage. Your rent will most likely grow from year to year.


If you’re ready to buy a home and live in the Memphis,TN/North Mississippi area then let Grant & Co. Builders · Realtors be your home builder. We’ve been building and selling new homes for over 70 years! Give us a call at (901) 854-0525 or visit us at

Grant & Co.: A Tradition of Quality You Can Take for Granted


Report Reveals BUYING is 55% Cheaper than Rent

Categories: Family Homes, Mortgages, New vs Used | Posted: May 18, 2015

Trulia is an online residential real estate site for home buyers, sellers, renters and real estate professionals in the United States. It lists properties for sale and rent as well as tools and information needed to be successful in the home search process.  The well- known website has recently released its Rent vs. Buy Report with excellent news for new home buyers.

In the latest report from Trulia, they explained that homeownership remains cheaper than renting in almost all areas of the United States. The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!  In the Memphis Metro area, it is now 55% cheaper to buy a new home than to rent!

The other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country (3.9%), they haven’t greatly outpaced rental appreciation (3.7%). “In the past year, these two trends have made homeownership even more affordable compared with renting.”
  • Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy. This means that buying a new home now instead of waiting is a smart move.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so lock in your housing cost with a mortgage payment now by contacting a Grant Preferred Lender.


Top Reasons Why Now is the Best Time to Buy a New Home

Categories: Family Homes, Interest Rates, Mortgages, New vs Used, Preferred Trade Partners, Ready to Move In Homes | Posted: January 7, 2015

The Christmas tree and all its trimming are put away for another season. Christmas 2014 is officially behind us and most folks are making plans for a new year. If your plans for 2015 include a new home for your family, here are the top reasons why choosing your new Grant home during the first quarter of 2015 is a good idea.

1. Prices Will Definitely Be Going UP

The bottom in home prices has come and gone. According to The Home Price Expectation Survey, a poll of over 100 economists, investment strategists, and housing market analysts, we can expect an appreciation in home values over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic). Home values will continue to appreciate for years to come and that’s great news for our homeowners.  As for buyers, waiting for lower prices no longer makes sense. 

2. Mortgage Interest Rates: What Goes Down Must Come Back Up

We have enjoyed low interest rates for the past couple of years and, hopefully, the Grant preferred lenders like Community Mortgage can stay in the low rate range for 2015. However, the Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors agree that rates could be up almost a full percentage point by the end of 2015. An increase in rates will impact YOUR monthly mortgage payment, how much you pay for your new home in the long haul and how much home you can quality for.

3. Why Not Pay Your Own Mortgage – Not Your Landlord’s

This question has become a mantra for real estate sales agents, but paying rent is getting harder and harder to justify with the rising costs of rent in the Memphis Metro area. You are going to pay something for a place to live. Why not pay down the principal of your own mortgage instead of the mortgage for your landlord. Plus, you get the home you want in the location that is right for you, the tax benefits and a place YOU own.

4. Carpe Diem! Seize the Right Time to Buy a New Grant Home

Is it really worth waiting to buy your new home? What is the real reason you are considering a move? Is it convenience to work? A good school for your children? More space for your family? More up-to-date home features? Concerned about home prices? They are going up. Undecided about mortgage rates? A Grant Preferred Lender can answer all your questions and concerns and provide the best rate/terms.  Looking at a home and trying to make a decision about whether or not to buy?  With a historically low inventory of homes – especially new homes – on the market, someone else is also looking at that same home.   If you decide that purchasing a new home for your family in 2015 is the right decision, buying now rather than later could lead to substantial savings, greater peace of mind and a great start to the New Year.  For a complete list of Grant homes in Olive Branch, MS, Arlington, TN, Bartlett, TN, Lakeland, TN, and Memphis, TN, click here.


Millennials Don’t Have to Settle for Less Than New

Categories: Featured Olive Branch MS Neighborhoods, Millennials, Mortgages, New vs Used | Posted: October 10, 2014

The Mid-South housing market has started to rebound and with this recovery has come rising home prices. While this is great news for the overall economy, this is not so great for the first time home buyers.Millennials buying a new home

For many of these Millennials – young professionals in their 20’s and early 30’s) entering the housing market for the first time, it can be pretty tough to find an affordable home in good condition in just the right location. At Grant & Co., we have not forgotten these young buyers.

Grant has great options for young buyers who are frustrated with looking at used homes that need repairs or are not in the right locations. There is no better condition than new – no needed repairs, no wear & tear on appliances, much more energy efficient than older homes and with a builder’s warranty.  The problem is that most Millennials don’t realize they don’t have to settle for less than new.

Grant has not forgotten these first time buyers. Grant builds new homes in Olive Branch, MS in Maplebrook starting at $173,950 – payments are comparable to a nice apartment.  In Trinity Park in Olive Branch, a new home is priced as low as $194,950.  A first time buyer can live in Gwin Farms in Olive Branch right now for as little as $189,950.  All of these homes are eligible for the USDA Rural Housing Finance Program for First Time Buyers – which allows qualified buyers to purchase a new home with no down payment with attractive interest rates.

In Bartlett, TN, a new home in Rivercrest can be purchased for a little as $214,950 or in Brookmeade for only $203,950.

With Grant & Co., there are still plenty of options for Millennials who are looking for home plans that feature open living spaces instead of stuffy formal rooms and for bathrooms that treat you like royalty with Grant’s exclusive King Spa Shower. Grant has energy efficient homes that help our environment and interior finishings like granite, hardwood and tile.   You can personalize your new home to your life style with a variety of options available in the Grant Design Center.

Don’t be discouraged, Millennials, just because prices are rising doesn’t mean that you have to settle for homes that don’t have the features that are important to you. You don’t have to keep throwing your money away on high rent.  Grant has new homes that are designed for you and that are easy to maintain  – with special incentives and finance programs.  For more information, visit our website at

The Advantages to Buying a New Home

Categories: Interest Rates, Mortgages, New vs Used, Uncategorized | Posted: June 26, 2014

SOLDWith home prices and mortgage rates both still at historic lows, the monthly cost of owning a new home is more affordable now than in the past 15 years. In the Memphis, TN and North Mississippi area, owning your own home is  less expensive than renting one.
Grant & Company Preferred Mortgage Lenders are still offering 30-year, fixed rates in the 4 percent range, giving today’s Grant home buyers more buying power than in the past and the best opportunity to buy a new home instead of settling for a used one.
The benefits to owning a new home are many, but here are a few that we especially like right now:


  •  Get what you want. New home builders like Grant & Company offer unparalleled quality and value. Choose from an incredible selection of new home models, then work closely with your builder to decide on the features and finishes that work best for you and your family.
  •  You choose the builder. When you buy a brand new home, you get to choose your builder based on their reputation and track record. Grant and Company is proud of the work we have been doing for the past 65 years throughout the Memphis, TN area.  We have the skills, experience and integrity to do the job right. We are committed to your satisfaction.
  •  You know what you get. With a new home, you know how the house was built and what went into it—both what you can see and what is behind the walls. And if you have questions later, your builder will be there to give you helpful and accurate information.
  •  Quality construction. The quality of your new home is based on solid construction and attention to details. We combine the latest construction techniques with timeless craftsmanship to create homes that are comfortable, attractive and great to live in – in the perfect locations in the Memphis/Mid-South area.
  •  Well-designed communities. New developments are designed to foster a spirit of community by carefully balancing private and public areas—welcoming home designs, recreational areas for children, safe and attractive roads and pathways. Want to see an example? Click here.
  • Great designs. Today’s new homes combine function and style, with open, inviting living areas, lots of light, well-planned work spaces and built-in convenience. Check out all our home plans by clicking here.
  • Advanced products and materials. New homes use the most advanced building components. From construction materials to heating systems, the technology built into every new home ensures high performance, durability and long-term satisfaction.
  • Finishes with flair. From flooring to faucets, the latest finishing products spell great looks and superior performance. Grant offers a wide selection of standard and upgrade options—you can pick and choose what best suits your lifestyle, personality and budget. Check out our Design Center by clicking here.
  •  Easy maintenance. With today’s careful construction, thoughtful design and improved building products, it is easier than ever to keep your home in great condition inside and out.
  • Energy-efficiency. Thanks to advanced construction, higher levels of insulation and energy-efficient heating and cooling systems, you not only save money on your energy bills, you also enjoy a far more comfortable home.
  • Indoor air quality. New homes are designed to give you and your family the best possible indoor living environment.
  • Safety. Constructed to the latest building codes, a new home includes a wide range of safety measures to protect you and your family.
  • Warranty. One of the great advantages of buying a brand new home is the warranty that comes with it. Grant and Company stands behind our work with an after-sales service program and a guaranteed builder warranty.
  • Stable financial planning. Plan for the future with confidence. With a new home, you know what you are getting. Everything is brand new—there will be no major repair bills and no replacement costs for years to come. Check out a Grant Preferred Lender for all the details.

If you have any questions, or need help, we’re glad to assist. Call a Grant & Company New Home Sales Representative today!

New vs Used: Easy Choice

Categories: Mortgages, New Option & Upgrades, New vs Used | Posted: August 5, 2013

Why Buy a New Home Instead of One That’s Pre-Owned?

Many homebuyers wrestle with the decision of whether to buy a new home or one that’s pre-owned. Years ago this decision was even more difficult to make because the features in new and existing homes were similar. However, new building materials, building codes and requirements and construction techniques have created financial and lifestyle advantages, making the new home purchase a far superior choice. Here’s why:

Energy Efficiency

A new Grant home is more energy efficient than a home that was built even a few years ago. There have been huge advancements in building techniques, systems and materials that provide a drastic reduction in monthly energy costs from homes that were built 5 years ago – let alone 20 years ago! Even the remodeling efforts that are used to update older homes and make them more energy efficient will probably never be as effective as those that are built into a new Grant home.  Grant uses energy efficient materials from nationally known brands like Honeywell and Amana.

Fresh Architectural Designs

Some pre-owned homes just look outdated. A new Grant home is designed for today’s families and their active lifestyles. With a new home, buyers can enjoy the most current advancements in technology, appliances, floor plans, and current designs in lighting, faucets, paint choices, brick, countertops and flooring.

Lower Costs of Ownership

New homes have almost no maintenance requirements for many years after they are constructed and most issues that could come up are covered by the builder’s warranty and service agreements. Homebuyers who choose to purchase pre-owned homes do not enjoy this advantage and often these simple maintenance tasks are overwhelming. Older homes are also in constant need of painting, flooring replacement, kitchen appliance replacement, plumbing and other expensive updates. With a new Grant home, you can enjoy the benefit of all new materials.


Personalization of a New Home

Choose a new Grant home and make it your own! Unlike a pre-owned home, which might have been designed for a completely different family from yours, a new Grant home allows the buyer to choose the perfect floor plan and add options that accommodate the individual needs of their family. Customized colors, finish-work and other personal touches are just some of the options available in the Grant Design Center.

The Workmanship

You’ve probably heard the phrase: They don’t make’em like they used to. This is true. Quality homebuilders make’em BETTER than they used to! Homeowners have learned that they can enjoy the best materials, products and workmanship in a new home.  Construction methods have also advanced dramatically. The builders at Grant & Company build new homes that are both environmentally friendly and energy efficient.

Grant & Company Homes are Inspected by Code Enforcement Professionals

In addition to Grant’s own quality assurance professionals, each Grant home undergoes inspections by County/ City Code Enforcement professionals to guarantee that all Grant homes meet the latest, stringent building codes.

All of these benefits make it an easy decision to choose a new Grant home!