Benefits of Buying

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Planning your move

Not sure if you should buy a home? The rent you pay could build equity in your own real estate. Do you realize how much you pay in rent over a period of years? The chart below gives you a total picture of what is happening to your money. The rent you pay adds up to a sizeable sum.

Rent

- No interest payment deductions

- Rental amount may increase at any time

- Landlord approval needed for any changes

- No capitalization; your money disappears forever

- Rental is temporary and is often subject to 30 day’s notice

Buy

- Deductions for your 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

How Much You Afford Home Can

This formula is only a guide and not to be construed as actual lending calculations.