Buy vs. Rent
house to buy house price $ down payment $ mortgage interest mortgage term (years) projected market real estate growth agent fee closing cost $ invested money growth 305,000 60,000 5.875% 30 monthly payments ($) own rent rent mortgage prop.tax community Grass Garbage Insurance Water Gas Term protection Pest protection Electricity maintenance Tax deductions total difference principal paid agent fees & closing cost 20936.3 21653.4 22402.8 23185.9 24004.3 24859.5 25753.1 26687.0 27663.0 28682.8 29748.5 30862.2 32026.0 33242.2 34513.1 35841.1 37229.0 38679.3 40194.9 41778.6 43433.7 45163.2 46970.5 48859.2 50832.9 52895.4 1450 1449.27 233.33 44.17 30.00 30.00 60.00 60.00 130.00 25.00 30.00 150.00 254.17 -356.49 2139.44 499.44 remained after returning mortgage 55868.3 72759.1 90460.2 109011.1 128453.1 148829.8 170186.8 192572.2 216036.1 240631.5 266413.9 293441.4 321775.4 351479.8 382622.4 415273.7 449508.3 485404.3 523043.6 562512.6 603901.6 647305.9 692825.3 740564.8 790634.6 843150.6
4.50% 5.00% 5,000 4.50%
60
130
1640
years
appreciation house value
earned on invested money 68874.8 78157.4 87866.4 98021.4 108642.9 119752.4 131372.3 143526.0 156238.0 169534.0 183440.8 197986.5 213200.4 229113.2 245757.1 263165.6 281373.9 300418.6 320338.2 341172.9 362964.8 385757.8 409597.9 434533.2 460614.1 487893.0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
318725.0 333067.6 348055.7 363718.2 380085.5 397189.3 415062.9 433740.7 453259.0 473655.7 494970.2 517243.8 540519.8 564843.2 590261.1 616822.9 644579.9 673586.0 703897.4 735572.8 768673.6 803263.9 839410.7 877184.2 916657.5 957907.1
3079.5 6344.9 9807.4 13478.8 17371.9 21499.9 25877.1 30518.5 35440.0 40658.6 46192.2 52059.8 58281.5 64878.8 71874.3 79292.0 87157.4 95497.5 104341.1 113718.4 123661.7 134205.2 145385.1 157239.8 169810.0 183138.9
27 28 29 30
1001012.9 1046058.5 1093131.1 1142322.0
197272.3 212258.8 228149.8 245000.0
55050.6 57302.9 59656.6 62116.1
898234.6 956014.4 1016624.4 1080205.9
516425.2 546268.2 577482.1 610129.9
balance ($)
-13,007 -5,398 2,594 10,990 19,810 29,077 38,815 49,046 59,798 71,098 82,973 95,455 108,575 122,367 136,865 152,108 168,134 184,986 202,705 221,340 240,937 261,548 283,227 306,032 330,021 355,258
381,809 409,746 439,142 470,076