Rent Versus Mortgage Payments
Paying rent may be a good choice if you have no other choices, however, landlords are motivated to raise rents each year. Review a projected rent schedule to a mortgage note below. You can escape this endless rental cycle!
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The Renter's Long Term Scenario:
Year 2012 Monthly Rent: $1,000
Year 2022 Monthly Rent after 4% inflation: $1,480
Year 2032 Monthly Rent after 4% inflation: $2,191
Year 2042 Monthly Rent after 4% inflation: $3,243
Year 2012 Monthly Rent: $1,000
Year 2022 Monthly Rent after 4% inflation: $1,480
Year 2032 Monthly Rent after 4% inflation: $2,191
Year 2042 Monthly Rent after 4% inflation: $3,243
The Homeowner's Long Term Scenario:
$150,000 home at 5.5%
Year 2012 Monthly Mortgage: $852 + property taxes
Year 2022 Monthly Mortgage: $852 + property taxes
Year 2032 Monthly Mortgage: $852 + property taxes
Year 2042 Monthly Mortgage: $0 + property taxes
Once the mortgage is paid .... What do you think the home will be worth, probably a lot more than $150,000.
$150,000 home at 5.5%
Year 2012 Monthly Mortgage: $852 + property taxes
Year 2022 Monthly Mortgage: $852 + property taxes
Year 2032 Monthly Mortgage: $852 + property taxes
Year 2042 Monthly Mortgage: $0 + property taxes
Once the mortgage is paid .... What do you think the home will be worth, probably a lot more than $150,000.
Rent Expenses
Does not take into account annual rent increases, outlined above, that you are paying your landlord.
Rent 1 Year 5 Years
$1000 $12,000 $60,000
$1200 $14,400 $72,000
$1400 $16,800 $84,000
$1600 $19,200 $96,000
$1800 $21,600 $108,000
Does not take into account annual rent increases, outlined above, that you are paying your landlord.
Rent 1 Year 5 Years
$1000 $12,000 $60,000
$1200 $14,400 $72,000
$1400 $16,800 $84,000
$1600 $19,200 $96,000
$1800 $21,600 $108,000
Home Page Buyer Information Rent Vs. Mortgage Additional Information
Want to sell your note? Disclaimer
Want to sell your note? Disclaimer
The Homeowner's Long Term Scenario:
$140,000 home at 5.5%
Year 2012 Monthly Mortgage: $795 + property taxes & insurance
Year 2022 Monthly Mortgage: $795 + property taxes & insurance
Year 2032 Monthly Mortgage: $795 + property taxes & insurance
Year 2042 Monthly Mortgage: $0 + property taxes & insurance
Once the mortgage is paid off in thirty years, what do you think the home will be worth, probably more than $140,000.
$140,000 home at 5.5%
Year 2012 Monthly Mortgage: $795 + property taxes & insurance
Year 2022 Monthly Mortgage: $795 + property taxes & insurance
Year 2032 Monthly Mortgage: $795 + property taxes & insurance
Year 2042 Monthly Mortgage: $0 + property taxes & insurance
Once the mortgage is paid off in thirty years, what do you think the home will be worth, probably more than $140,000.