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Buyer vs. Rent Comparison

Buy vs. Rent Comparison 

The chart below shows a cost comparison for a renter and a homeowner over a seven year period.

The renter starts out paying $800 per month with annual increases of 5%

The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000

After 6 years, the homeowner's payment is lower than the renter's monthly payment

With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years

 

http://www.realtor.org/sites/default/files/images/charts-and-graphs/ginnie-mae-buy-vs-rent-chart.jpg

Source: Ginnie Mae, (ginniemae.gov). Click on image to enlarge.

 

 

 

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Connected Real Estate, Inc.
CA DRE#01917860

PO Box 563, Ripon, CA 95366
Cindy's Cell: 209.324.2311
Lourdes' Cell: 209-678-3917
Email: Cindy@Connected-Real-Estate.com
LourdesBentoRealtor@gmail.com
CA BRE License #01470557

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