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Benefits of Buying

Not sure whether you should buy a home? When you consider the sizable amount you pay to rent, it may make financial sense to instead use that money build equity in your own real estate.

The chart below provides a snapshot of how much you’ll pay over 30 years.

RENT

5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

30 YEARS

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

$2,200

$2,400

$2,600

$2,800

$3,000

$60,000

$72,000

$84,000

$96,000

$108,000

$120,000

$132,000

$144,000

$156,000

$168,000

$180,000

$120,000

$144,000

$168,000

$192,000

$216,000

$240,000

$264,000

$288,000

$312,000

$336,000

$360,000

$180,000

$216,000

$252,000

$288,000

$324,000

$360,000

$396,000

$432,000

$468,000

$504,000

$540,000

$240,000

$288,000

$336,000

$384,000

$432,000

$480,000

$528,000

$576,000

$624,000

$672,000

$720,000

$300,000

$360,000

$420,000

$480,000

$540,000

$600,000

$660,000

$720,000

$780,000

$840,000

$900,000

$360,000

$432,000

$504,000

$576,000

$648,000

$720,000

$792,000

$864,000

$936,000

$1,008,000

$1,080,000

RENT

No interest payment tax deductions

Rental amount may increase at any time

Landlord approval needed for any changes

No equity; your money disappears forever

Rental is temporary and you may be asked to vacate the property with as little as 30 day’s notice

BUY

Tax deductions for mortgage interest paid

Mortgage payments could be fixed

Decorate and make changes without prior approval

The value of your property may increase in time

Your house will become a home, not a temporary living situation; you are not at the mercy of a landlord

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