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Blog 
Thursday, March 31 2016

Buy vs. Rent Comparison 

The chart below shows a cost comparison for a renter and a homeowner over a 7 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

Posted by: Tera L. AT 03:35 pm   |  Permalink   |  0 Comments  |  Email
 

 

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