Huntsville TX Real Estate, Conroe Real Estate and Lake Livingston Real Estate are going strong. If you have been waiting on the sidelines wondering if it's the right time to buy, this is your year.
--Interest rates are at historic lows
--There is an $8000.00 First Time Homebuyer tax credit--that's cash--$8000 dollars!
--Tax benefits of Owning vs Renting
| Rent vs. Buy Comparison |
The following data is for estimation purposes only and the accuracy of the figures is not guaranteed.
The actual costs with respect to each transaction will vary depending on the circumstances.
| Monthly Rent of Comparable House | $ | 900 | |
| Annual Rental Value of Comparable House | $ | 10800 | |
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| Purchase Price | $ | 130000 | |
| Annual Appreciation Rate | 4 | % | |
| Annual Appreciation Gained by Purchase | $ | 5200.00 | |
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| Interest Rate | 5.5 | % | |
| Annual Property Taxes | $ | 2300 | |
| Annual Cost of Mortgage | $ | 10714.00 | |
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| Years Expected to Own Before Selling | 10 | yrs | |
| Cost of Selling (commissions, etc) | 7 | % | |
| Annualized Selling Costs | $ | 1274 | |
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Net Investment Value | $4012.00 |
A Positive Net Investment Value generally supports the option of purchasing over renting,
but this is only an estimate, to be used as a general guideline.
It is always a good idea to consult a financial advisor before making any financial decisions.
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--The Pride of ownership---That great feeling that when you fix something or remodel something, you are investing in your life, not your landlord's
So, what do you say, it's 2010--call me...then, find home--and 2010 will be the year you bought your First Place!
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