How To Throw Away $100,000

Reblogger
Real Estate Agent with Prudential Gary Greene-Friendswood

Too interesting not to re-blog. 

Original content by Terry Edwards

How To Throw Away $100,000

It's very easy.  Rent a house.  

  I was talking with a would-be home buyer the other day and he couldn't commit because of dropping home prices.  He said he was paying $850 per month rent for his house.  If he rents for 10 years he has thrown away $100,000!

Monthly rent

3 years

10 years

15 years

30 years

$500

$18,000

$60,000

$90,000

$180,000

$600

$21,000

$72,000

$108,000

$216,000

$700

$25,400

$84,000

$126,000

$252,000

$800

$28,800

$96,000

$144,000

$288,000

$900

$32,400

$108,000

$162,000

$324,000

$1000

$36,000

$120,000

$180,000

$360,000

30 year mortgage rates are below 5% today and that same $850/month will buy you a $140,000 house. 

We have no idea what that house will sell for in 10 years but most likely it will not lose $100,000 in value.

Rockbridge Area

For a list of homes for sale in Columbia or Hopkins contact

Terry Edwards     www.FeaturedColumbiaHomes.com

tedwards@sc.rr.com     803 920 5327

Cayce     Forest Acres     Hopkins     Rosewood     Shandon     SE Columbia    

and all of Columbia's great neighborhoods

 

Posted by

 

 

Tina Parker, Realtor

Prudential Gary Greene-Friendswood

www.tinaintexas.com

Call Tina for professional service with a personal touch- (832) 285-7475 

© 2009 Tina Parker, The Brian Worrell Team, Realtors in League City, TX - 832-285-7475. All Rights Reserved. LeagueCityBlog.com.  Prudential Gary Greene, Realtors.

 

Comments (1)

Maria McCaw
Urban Acres Real Estate - Iowa City, IA
REALTOR® at Urban Acres Real Estate

Nothing like putting things in perspective!   Every real estate office needs this chart hanging on the wall!

Aug 24, 2010 07:04 AM