Renting Vs Buying What Are The Advantages

Renting Vs Buying What Are The Advantages

Image title

The long asked question...when to buy? Is it better to buy or rent?

It's probably the biggest expense you will ever have but the pride of homeownership and the benefits that come along with it are hard to pass up.

Search Homes

The rent you pay now adds up to a large chunk of money. For a clearer picture on how large the sum can be consider the following:

First, consider the lost return on investment. Real estate that you purchase may appreciate over time but rental payments will not. Let's calculate what your monthly earnings could be if you invested your monthly rent. For example, if your rent is $800 per month and you invested that amount for 10 years and received a 5% return on investment you would earn $28,225. This doesn't take into account that rent typically increases over time!

Let's look at what you pay in rent. This money could be equity in your OWN home.

 Monthly Rent   1 Year   2 Years   3 Years   4 Years   5 Years
 $1,800  $21,600  $43,200  $64,800  $86,400  $108,000
 $1,900  $22,800  $45,600  $68,400  $91,200  $114,000
 $2,000  $24,000  $48,000  $72,000  $96,000  $120,000
 $2,100  $25,200  $50,400  $75,600  $100,800  $126,000
 $2,200  $26,400  $52,800  $79,200  $105,600  $132,000
 $2,300  $27,600  $55,200  $82,800  $110,400  $138,000
 $2,400  $28,800  $57,600  $86,400  $115,200  $144,000
 $2,500  $30,000  $60,000  $90,000  $120,000  $150,000
 $2,600  $31,200  $62,400  $93,600  $124,800  $156,000
 $2,700  $32,400  $64,800  $97,200  $129,600  $162,000
 $2,800  $33,600  $67,200  $100,800  $134,400  $168,000
 $2,900  $34,800  $69,600  $104,400  $139,200  $174,000
 $3,000  $36,000  $72,000  $108,000  $144,000  $180,000
 $3,100  $37,200  $74,400  $111,600  $148,800  $186,000
 $3,200  $38,400  $76,800  $115,200  $153,600  $192,000
 $3,300  $39,600  $79,200  $118,800  $158,400  $198,000

Let's take a look at some of the other many benefits of being a homeowner:

  • Paint the walls any color you want...or knock a few down

  • Take advantage of tax breaks for homeowners (talk to your accountant about these benefits)

  • You gain equity in the home, not your landlord

  • Make improvements that benefit you

  • Get the pet you've always wanted

  • Throw wild parties, or not:)

  • Control how long you live there

  • Personalize the home to fit your style

  • Never worry about having to move because your lease has expired

You can start your home search herewe can even send you a few mortgage lenders to contact. All these services are complimentary so why not see if now is the time for homeownership...you might not be able to afford NOT too! Have more questions? Give us a call/text at Melody 703-785-8203

SEARCH HOMES NOW


Melody Visser Headshot
Author:
Phone: 703-785-8203
Dated: May 30th 2017
Views: 413
About Melody: Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Curren...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

COASTAL LIVING IN VIRGINIA BEACH CHESAPEAKE AND NORFOLK ITS A LIFESTYLE - I get a lot of inquires about
Renting Vs Buying What Are The Advantages - The long asked question...when to
Loudoun County Market Update For April 2017 - April 2017 Loudoun County Market
3 Reasons The Housing Market Is NOT In A Bubble - See the complete blog by clicking

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Rod Obee
43723 Lees Mill Square
Leesburg, VA
703-909-0937