Rental Comparison

If it is at all possible to purchase, you will see that it pays to put the money in your pocket instead of your landlords. Please have a look at the tables below:
How Much Rent Do You Pay? | ||||
Monthly Rent | After 3 Years | After 4 Years | After 5 Years | After 6 Years |
$500.00 | $18,000 | $24,000 | $30,000 | $36,000 |
$600.00 | $21,600 | $28,800 | $36,000 | $43,200 |
$700.00 | $25,200 | $33,600 | $42,000 | $50,400 |
$800.00 | $28,800 | $38,400 | $48,000 | $57,600 |
$900.00 | $32,400 | $43,200 | $54,000 | $64,800 |
$1,000.00 | $36,000 | $48,000 | $60,000 | $72,000 |
Comparison of Rental Income vs. Mortgage Payments | |||||
Rent Payment | Mortgage Payment | Mortgage Required | Down Payment Required | Purchase Price | Income Required |
$500 | $500 | $69,840 | $3,586 | $71,723 | $21,552 |
$600 | $600 | $83,808 | $4,303 | $86,068 | $25,862 |
$700 | $700 | $97,776 | $5,021 | $100,412 | $30,172 |
$800 | $800 | $111,745 | $5,738 | $114,757 | $34,483 |
$900 | $900 | $125,713 | $6,455 | $129,102 | $38,793 |
$1,000 | $1,000 | $139,681 | $7,172 | $143,446 | $43,103 |
$1,100 | $1,100 | $153,649 | $7,890 | $157,791 | $47,414 |
$1,200 | $1,200 | $167,617 | $8,607 | $172,135 | $51,724 |
$1,300 | $1,300 | $181,585 | $9,324 | $186,480 | $56,034 |
This Illustration Is Based on a Five Year Interest Rate of: 7.250% | |||||
The annual taxes are assumed to be 1.25% of the purchase price. |
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