Buying vs. Renting

        THE BENEFITS OF BUYING VS. RENTING

     The monthly rental amount you pay could add up, over several years, to be equal to the cost of owning your dream house, if not more!

BUY

RENT

Purchase Price vs. Rental Cost

$176,000.00

$1,250.00 per month

     Rate  

4.25%

*

     Term

 

30 Year

*

     Loan Amount

 

$167,200.00

0

     Down Payment

$8,800.00

$2,500.00

     Principal & Interest  

$423.00

*

     Taxes & Insurance

$427.00

*

     Monthly Payment

 

$1,250.00

*

Total of Payments after 3 Years

$45,000.00

$45,000.00

Equity After Three Years

 

$17,628.00

0

 
 
 Purchasing Advantages:
  •    Property builds equity
  •    Mortgage interest tax deduction
 Renting Disadvantages:
  •    No tax benefits or equity gains
  •    No control over rent increases