Rent vs. Buy Flyer 1 JCHI - Jonathan Chi
RENTING VS. BUYING
Due to trends in home prices and mortgage rates, this is an excellent time to look into buying your dream house. If you've been thinking about buying a home, one question you've probably asked yourself is "Can I afford to buy a home?" Perhaps a better question to ask is "Can I afford to rent?" No matter how much you pay in rent, chances are that the amount you pay could add up over several years to be the price of your dream house, if not more. The following chart shows how much rent payments would add up to, considering the money invested would earn 5% interest.
Rent
10 Years
20 Years
30 Years
$600
$93,168
$246,920
$499,855
$800
$124,226
$328,827
$665,807
$1,000
$156,282
$411,034
$832,269
$1,200
$186,339
$493,240
$998,710
$1,500
$232,823
$616,561
$1,248,388
$2,000
$310,566
$822,067
$1,664,517
$2,500
$388,206
$1,027,584
$2,080,647
In addition to the investment gains lost through renting, you may want to keep into consideration common concerns most of us have as a renter as well as a home owner.
Advantages
Considerations
Property builds equity
Responsible for maintenance
Tax deduction of Mortgage interest
Responsible for property taxes
Buy
Free to change d?cor and
landscaping
Responsible for Hazard Insurance
Not dependent on landlord to maintain property
Less mobility than renting
Sense of community, stability, and security
Rent
Easier to move
No tax benefits No equity gains Possibility of eviction
No control over rent increases
Compliments of Jonathan Chi 626-606-5716
J.Chi@
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- renting vs buying effect of the standard deduction
- engr 360 economic analysis p2 deciding to buy or rent
- hargreaves rent or buy that is the question
- renting vs owning a home springfield public schools
- rent vs buy flyer 1 jchi jonathan chi
- this choice often comes down to a financial decision can
- first county bank
- adjusted gross income worksheet hud
- the use case model
- core questions for housing needs surveys
Related searches
- enterprise rent to buy program
- should i rent or buy a home
- better to rent or buy house
- suze orman rent or buy a home
- rent or buy a house
- hertz rent to buy program
- hertz rent to buy cars
- rent versus buy comparison chart
- better to rent or buy a house
- rent vs buy a house
- should you rent or buy in retirement
- rent vs buy home spreadsheet