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