Current Rent:		Note: The numbers in the boxes now are default values. Since nobody knows for certain how much houses will appreciate in your area in the future, it is impossible to be absolutely certain whether renting or buying will be advantageous for you.
Purchase Price of Home:
Percentage of Down Payment:
Length of Loan Term (years):
Interest Rate:
Years You Plan to Stay in This Home:
Yearly Property Tax Rate:
Yearly Home Value Increase Rate:
Results:   Rent Buy Price of Home After Appreciation:    Remaining Balance After Years:    Equity Earned:    Tax Savings (at 28%):    Avg. Monthly Payment Over Time:  Total Payment:  Total Savings On:

There are many advantages to buying a home versus renting one. In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax deductions or benefits you gain with homeownership, the overall savings can be significant. Your mortgage payment will be fixed with most mortgage programs while your rent will tend to increase with inflation.

Many home buyers forget that purchasing a home can also be a very savvy investment in your future. You can realize tens of thousands of dollars of equity over time when home values increase.

As a renter, your rental company takes part of your rent payment to cover certain housing expenses. When you decide to purchase a home, you accept responsibility for paying for these expenses. A great example of this would be maintenance of your home (such as a new water heater, roof, etc.). They are additional costs to your monthly mortgage payment and should be considered in your budget estimates. Make sure you contact us to review all options -

Renting versus Buying? A difficult question. If you‘re ready for the responsibility of home ownership, the benefits may be rewarding. The Internal Revenue Service lets home owners deduct their mortgage interest, property taxes and some other expenses of home ownership. You can also get a tax break when you sell your home. Under the current tax law, you are permitted in certain cases to exclude from taxable income up to $250,000 of gain realized (500,000 for married couples filing a joint return) on the sale or exchange of property that has been used as your principal residence.