Offered by: Dan Cochran – The Haven Team, Keller Williams
Buying a home is a big financial investment – perhaps the biggest one you’ll make in your life. Be sure to do your homework and carefully evaluate how you want to live and how much you can comfortably afford.
Home ownership can be very rewarding if you are properly prepared, know what to expect, and make informed financial decisions.
Maybe it is time to start making your money work for you. When comparing buying a $350,000 house vs paying $1,800 a month for rent, the break-even point is only 1 year and 11 months. Here is what that means:
In our Rent vs Buy calculator, we compare the total cost of buying vs the total cost of renting over a period of time. The “Break Even” point is the time it will take for the cost of buying a home to become even with the cost of renting a home.
The “Gain” we use is the Buy Costs vs Rent Costs. If Rent Costs are less for your chosen period of time, then it is a better deal for you to rent for that time frame; a Rent Gain. The higher the Rent Gain amount, the more you are saving over buying.
If the Buy Costs are less for the chosen period of time, then it is a better option to buy; a Buy Gain. The higher the Buy Gain amount, the more you are saving over renting.
I would be more than happy to assist you with a Rent vs. Buy comparison. Or, if you are interested in knowing what your current home is worth, feel free to contact me to complete a free home market analysis for you.
Please reach out to me with any questions about real estate. I would be honored to be your real estate professional. Please visit us on-line at: www.thehaventeam.kwrealty.com or call Dan Cochran at: 303.709.3501