The Real Cost of Buying Versus Renting

By
Real Estate Agent with ERA Lakeway Real Estate

Useful Tool: The Rent vs. Buy Calculator
The real cost of buying versus renting.

How many times have you heard someone say, "In this market, it makes more sense for me to rent"? The truth is, many people don't understand how to truly evaluate whether or not renting is really in their best interest. Offering prospective clients a free analysis is a great way to start a homeownership conversation.

Move.com offers a number of useful calculators, one of which is the "Rent vs. Buy" calculator:

"This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision."

http://www.move.com/home-finance/financial-calculators/rent-vs-buy-calculator.aspx

 

Feel free to visit my website also to see all of my listings as well as thousands of listings in the area:  www.lakewayera.com.

Best Wishes!

Comments (1)

Brenda Busch
Morris Real Estate - Bridgewater, MA

Great blog Sean.  I will have to check that website out.

Oct 12, 2010 03:19 AM