|
We
have
assembled
some
tables
to
allow
you
to
gauge
the
possibility
of
purchasing
instead
of
renting.
The
information
is
to
be
used
as
a
guideline
only,
please
send
us
a
message
for
more
specific
information.
If
it
is
at
all
possible
to
purchase,
you
will
see
that
it
pays
to
put
the
money
in
your
pocket
instead
of
your
landlords.
Please
have
a
look
at
the
tables
below:
|
| |
|
How
Much
Rent
Do
You
Pay?
|
| Monthly
Rent |
After
3
Years |
After
4
Years |
After
5
Years |
After
6
Years |
| $500.00 |
$18,000 |
$24,000 |
$30,000 |
$36,000 |
| $600.00 |
$21,600 |
$28,800 |
$36,000 |
$43,200 |
| $700.00 |
$25,200 |
$33,600 |
$42,000 |
$50,400 |
| $800.00 |
$28,800 |
$38,400 |
$48,000 |
$57,600 |
| $900.00 |
$32,400 |
$43,200 |
$54,000 |
$64,800 |
| $1,000.00 |
$36,000 |
$48,000 |
$60,000 |
$72,000 |
|
Comparison
of
Rental
Income
vs.
Mortgage
Payments
|
| Rent
Payment |
Mortgage
Payment |
Mortgage
Required |
Down
Payment
Required |
Purchase
Price |
Income
Required |
| $500 |
$500 |
$69,840 |
$3,586 |
$71,723 |
$21,552 |
| $600 |
$600 |
$83,808 |
$4,303 |
$86,068 |
$25,862 |
| $700 |
$700 |
$97,776 |
$5,021 |
$100,412 |
$30,172 |
| $800 |
$800 |
$111,745 |
$5,738 |
$114,757 |
$34,483 |
| $900 |
$900 |
$125,713 |
$6,455 |
$129,102 |
$38,793 |
| $1,000 |
$1,000 |
$139,681 |
$7,172 |
$143,446 |
$43,103 |
| $1,100 |
$1,100 |
$153,649 |
$7,890 |
$157,791 |
$47,414 |
| $1,200 |
$1,200 |
$167,617 |
$8,607 |
$172,135 |
$51,724 |
| $1,300 |
$1,300 |
$181,585 |
$9,324 |
$186,480 |
$56,034 |
| This
Illustration
Is
Based
on
a
Five
Year
Interest
Rate
of:
7.250% |
| The
annual
taxes
are
assumed
to
be
1.25%
of
the
purchase
price. |
|
|
