Renting VS Ownings Studies
This chart shows how much you will pay per year - for example if you pay $2,500 per month in rent, in 10 years you will have paid your landlord/s more than $377,337 !
Rent vs. Buy Comparison Chart
There are many advantages to home ownership, when you look at what it actually costs to Rent compared to actually owning, the difference is unbelievable.
The chart below shows a seven year period of cost comparison for a renter and a homeowner.
The renter starts out paying $2500 per month with annual increases of 5%
Assumption - If you purchase a home for $350,000 and pay a monthly mortgage of $2,700 (FHA 3.5% down payment, $8,000 in annual real estate tax
With the tax savings of homeownership, the homeowner's effective payment is less than the rental payment in 1 year!
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