|
3 YEAR OVERALL TOTALS: RENT VS BUY
| |
Rent @ $500.00 per month |
Buy @ $500.00 per month
$71,508 for 30 yrs. @ 7.5% |
| Initial costs |
$1,160.00 |
$500.00 |
| 1st Year
Payments |
$6,000.00 |
$6000.00 |
| 2nd Year
Payments |
$6,120.00 |
$6,000.00 |
| 3rd Year
Payments |
$6,300.00 |
$6,000.00 |
| 3 Year Total
Payments |
$19,580.00 |
$18,500.00 |
| Security Deposit
Return |
$350.00 |
0 |
| 1st Year Int.
for Taxes |
0 |
$5,340.00* |
| 2nd Year Int.
for Taxes |
0 |
$5,290.00* |
| 3rd Year Int.
for Taxes |
0 |
$5,234.00* |
| 1st Year App.
@3% |
0 |
$2,145.00** |
| 2nd Year App.
@3% |
0 |
$2,209.00** |
| 3rd Year App.
@3% |
0 |
$2,275.00** |
| 3 Year Total
Paid Out |
$19,580.00 |
$18,500.00 |
| Returns To You |
$350.00 |
$22,493.00 |
| Your “Net”
Return |
$-19,230.00 |
$+3993.00 |
| |
|
|
| |
TOTAL DIFFERENCE TO YOU |
|
*This amount of
int. may
or may not be deducted
from your taxes |
$-19,230 While Renting
$+3,993 While Buying |
|
| |
|
|
**3% appreciation
may or may not be the actual amt.
depending on the market
and the subdivision |
TOTAL DIFFERENCE
***$15,237 |
This is not actual money
that you would receive and
is not to be construed as
such. |
|
