Are you renting your home? Renting your home long term is practically throwing away money! With home ownership, you will at least put your hard earned money to good use. If you are renting, take a closer look!
Rent is... | 1 Year | 5 Years | 10 Years | 20 Years |
$ 750 | $ 9000 | $45000 | $90000 | $180000 |
$ 800 | $ 9600 | $48000 | $96000 | $192000 |
$850 | $ 10200 | $51000 | $100200 | $204000 |
$ 900 | $ 10800 | $54000 | $108000 | $216000 |
$ 1000 | $ 12000 | $60000 | $120000 | $240000 |
$ 1100 | $ 13200 | $66000 | $132000 | $264000 |
$ 1200 | $ 14400 | $72000 | $144000 | $288000 |
$ 1300 | $ 15600 | $78000 | $156000 | $312000 |
$ 1400 | $ 16800 | $84000 | $168000 | $336000 |
$ 1500 | $ 18000 | $90000 | $180000 | $360000 |
$ 1600 | $ 19200 | $96000 | $192000 | $384000 |
$ 1700 | $ 20400 | $102000 | $204000 | $408000 |
$ 1800 | $ 24600 | $108000 | $216000 | $432000 |
$ 1900 | $ 22800 | $114000 | $228000 | $456000 |
$2000 | $ 24000 | $120000 | $240000 | $480000 |
Are these numbers shocking to you? They don't even take into account rent increases every year!
The point? "Don't pay rent all your life!"
There are plenty of positive points to home ownership now!
Mortgage Interest Likely Will Be Deductible Against Your Income Taxes!
With A Fixed Rate Mortgage Your Mortgage Payment Stays The Same!
(If you purchased a average 4 bedroom home for $250,000 in 1997 at the then available 7.5% interest rate under normal terms, your mortgage payment would still be $1,398.43 per month, to rent that same home today could easily exceed $2700.00 a month)
For Information On Buying or Selling a home in Morristown, Morris township, Madison or Florham Park Contact James Boyer. I will show you marketing materials for your home that will amaze you!!
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