Saturday, October 22, 2005

Rent VS. Buy

Freddie Mac has a great online calculator that I found. It helps determine whether you are better off renting vs. buying. Interesting little tool – I recommend you check it out.


http://partners.leadfusion.com/.../freddiemac/home10/tool.fcs


or

Find it in the resources section of their homepage at;

http://www.freddiemac.com/...


While playing with it, I assumed a 2,100 /per month rental vs buying a house for 359,900. The calculator takes into account, taxes, insurance, maintenance, cost of sale, and loan terms. Its response to my test was,



Owning will save you $331,428 compared to renting over the 7 years in today’s dollars.




Pretty good huh?


-Questions? Call me!

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