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Focus on Real Estate
• A home that's not a house • As rentals go rondo, renters may face hikes • Rent vs. Buy |
- Information supplied by Renee Celli, ReMax Metro
In this very simple example, we're comparing payments for a higher end rental with a $150,000 home, condo or rondo that you buy. Here's how the two stack up:
Monthly rent: $1,100
Annual rent: $13,200
Expected appreciation: $0 (you don't own it)
Purchase price: $150,000
Interest rate: 5.5%
Monthly mortgage payment: $1,197.10
Annual mortgage payment: $14,365.2 0
Expected appreciation: 6%, or $9,000 a year
[Last modified February 9, 2005, 09:08:49]