The homes shown above recently sold for prices which correspond to the approximate monthly mortgage payment shown in the picture. Below is a comparison of how much you gain by paying $1,000/mo toward buying a home similar to one of the homes shown above, instead of rent.
Here is an example of how much you lose by paying $1,000/month rent.
- To keep the numbers simple, let’s say that your monthly payment (P+I) is $1,000/mo. That is approximately the payment (P+I) on a $200,000 loan at 4.5% for 30 years.
- In the Greater Raleigh area, home prices are increasing at about 3% per yr, on the average.
So let’s compare renting against buying a $200,000 house.*
In three years, where will you be?
After 3 years of renting, you will have spent $36,000 on rent and gotten NO return on that money.
After 3 years of owning your own home, you will have paid $36,000 in mortgage payments, with a return of about $45,000 on your investment!
If, at the end of the third year, you sell the house for $225,000, you made about $50,000 for living in that house for three years.
Stop Wasting Money On Rent
In order to advise you on your best pathway to home ownership, we must know a little about you. Please complete the Preliminary Information Form (click on the box) and send it to us. We will review and contact you to discuss your potential home ownership options.
*Numbers are approximations for illustration purposes only.
Helping Renters Become Owners
– Buyer Service Realty –
If you have any questions on becoming a homeowner or have any comments about anything that you see here, please let us know by writing or calling us at 984-200-7174.