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Home Buyers The Real Cost of Renting

The Real Cost of Renting

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Based on a 6% Rental Increase Each Year, If You Now Pay…

 

 $600/

month

 $700/

month

 $800/

month

 $900/

month

$1,000/

month 

 $1,200/

month

 $1,400/

month

 $1,600/

month

 This year$7,200$8,400$9,600 $10,800$12,000 $14,400$16,800$19,200
 Next year$7,632$8,904$10,176$11,448$12,720$15,264$17,808$20,352
 3rd year$8,090$9,438$10,787$12,135$13,483$16,180$18,876$21,573
 4th year$8,575$10,005$11,434$12,863$14,292$17,151$20,009$22,868
 5th year$9,090$10,605$12,120$13,635$15,150$18,180$21,210$24,240
 6th year$9,635$11,241$12,847$14,453$16,059$19,270$22,482$25,694
 7th year$10,213$11,916$13,618$15,320$17,022$20,427$23,831$27,236
 8th year$10,826$12,631$14,435$16,239$18,044$21,652$25,261$28,870
 9th year$11,476$13,389$15,301$17,214$19,126$22,951$26,777$30,602
 10th year$12,164$14,192$16,219$18,246$20,274$24,328$28,383$32,438
 TOTAL$94,901$11,0721$126,537$142,353$158,170$189,803$22,1437$253,073

 

Think about the home you could have purchased using that money.Not to mention the potential annual tax deduction for mortgage interest paid! 

Last Updated on Monday, 01 December 2008 19:12  

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Newsflash

CHARLOTTE, N.C. – CRRA reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data.  The number of closings for March 2009 (1,671) rose 24 percent over last month when closings totaled 1,348.  Closings compared to the same period a year ago (2,659) decreased 37.2 percent.  The average sales price for March 2009 ($191,433) increased 4.7 percent over last month ($182,865) but is down 13.2 percent when compared to March 2008 ($220,620).  The average listing price of solds in March 2009 ($216,135) decreased 7.6 percent over  March 2008’s average list price of $233,882 and increased 4.8 percent over last month’s list price ($206,172).