Buying vs. Renting
Use the chart below to compare the advantages and
considerations of owning vs. renting this hypothetical home.
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| Hypothetical Example: Suppose you could rent this 2BR, 3 level townhouse for $1,680/month, or buy it for $300,000 with 10% down? Which option would be the better deal over the next ten years? |
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Note: The chart above uses these items in its calculations: private mortgage insurance, homeowner's insurance cost, loan closing costs, cost of selling a home, property tax, homeowner's tax saving, and rent increases. Chart results are estimates only.
These calculations come from Ginnie Mae.
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