G4 Realty

  • Increase font size
  • Default font size
  • Decrease font size
Home Buyers The Real Cost of Renting

The Real Cost of Renting

E-mail Print PDF
 

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  

Featured Homes


Newsflash

CHARLOTTE, –N.C. – CRRA reports on the residential real estate market in this region.  The number of closings for October 2008 was 1,848, which is a 30.6 percent decrease from October 2007.  The average sales price for October 2008 was $216,777, which is a decrease of less than one percent when compared to October 2007.  The average listing price for solds in October ($237,436) increased 4 percent over last year’s average list price of $228,082.