CONSIDERATION #1:
When owning a home, each monthly
payment is like putting money into a
savings account rather than giving it to
the landlord when renting
CONSIDERATION #2:
Buying a home is also accompanied by
some interesting tax benefits
CONSIDERATION #1:
Buying a home means generating equity
CONSIDERATION #2:
Buying a home brings a sense of pride and ownership
CONSIDERATION #3:
Buying a home brings a realization that you are part of a permanent community in which you may be a contributor to the well being of others around you
RESPONSIBILITY #1:
As a tenant in a rented property, you have more freedom to move around the country
RESPONSIBILITY #2:
Many small improvements can add up to big dollars invested in upkeep expenses
RESPONSIBILITY #3:
If you find that you are not exactly thrilled with your new neighborhood, you may find yourself "stuck" until the value of your home increases enough to get your initial investment back
If Rent is: | 1 Year: | 5 Years: | 10 Years: | 15 Years: |
---|---|---|---|---|
$800 | $9,600 | $48,000 | $96,000 | $144,000 |
$900 | $10,800 | $54,000 | $108,000 | $162,000 |
$1,000 | $12,000 | $60,000 | $120,000 | $180,000 |
$1,100 | $13,200 | $66,000 | $132,000 | $198,000 |
$1,200 | $14,400 | $72,000 | $144,000 | $216,000 |
$1,300 | $15,600 | $78,000 | $156,000 | $234,000 |
$1,400 | $16,800 | $84,000 | $168,000 | $252,000 |
$1,500 | $18,000 | $90,000 | $180,000 | $270,000 |
$1,600 | $19,200 | $96,000 | $192,000 | $288,000 |
$1,700 | $20,400 | $102,000 | $204,000 | $306,000 |
$1,800 | $21,600 | $108,000 | $216,000 | $324,000 |
$1,900 | $22,800 | $114,000 | $228,000 | $342,000 |
$2,000 | $24,00 | $120,000 | $240,000 | $360,000 |