Stop Paying RENT! Own A New Home!!!
As a Renter, You May Not Be Aware that Your Monthly Rent Payment is Really Costing You.
For Example, Your $1,000 per month payment is
actually costing you $520 each month! As a Renter, You Miss Out on these
3 Advantages:
APPRECIATION:
the value of your home will increase as each year passes.
BUILDING EQUITY: a portion of the mortgage payment is used to reduce the amount owed on you home, hence increasing your overall equity.
MORTGAGE DEDUCTION: a tax benefit to home owners.
| |
RENT |
OWN |
| Monthly Cost |
$1,000 |
$1,000 |
| - Appreciation Benefit ** |
$0 |
$340 |
| - First year Principal Reduction * |
$0 |
$180 |
| Actual Cost of Living in Home |
$1,000 |
$480 |
| MORTGAGE DEDUCTION |
$0 |
$0 |
As you can see from above, you are actually LOSING the benefit of $520 each month by renting instead of owning this property.
WOULDN'T $6,240.00 WORTH OF EQUITY AT THE END OF 12 MONTHS BE BETTER THAN THE NOTHING THAT YOU HAVE NOW IN THE HOME AS A RENTER??
* This example is based on a $135,000.00 loan at 4.5% APR
** Calculated with a 3% annual appreciation value
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