“Buy vs Rent Calculators” help renters see the overall benefits of home-buying vs. renting. These calculators take into account appreciation, income tax savings, property tax rates, interest rates, and even transaction costs.
The best Buy vs Rent Calculator can be found on HUD’s Website: Go to www.Hud.Gov. Then to Resources. Then to Buyer vs. Renting.
The link is below:
Almost any analysis we do seems to yield significant benefits from buying.
We compared a renter paying $2,500 per month in rent against a $450,000 FHA purchase with an estimated appreciation rate of 3%; the site showed the BUYER to be $300,000 BETTER off than the renter in 10 years.
If renters use this site, they will want to run out and buy as soon as possible. Likewise, this a wonderful selling tool for Realtors.
Founder/Broker | JVM Lending
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