Buy Vs Rent Calculator

Buy Vs Rent Calculator

The Buy versus Rent calculator is a fantastic way to answer a question that comes up so often when you are considering a new place to live. This calculator allows you to enter the rent you will be paying at a particular piece of property and also you can calculate the projected expenses you will incur if you buy a  Property. I always come down on the side of buying property because each time you make a payment to the bank you own a little bit more of your property. This is called equity… and you keep on increasing the amount of equity that you own in your property until that magical day that you own it 100% out right. in the meantime if you decide to sell your home you call your loan officer and ask “what is my current equity in this property”? Once you have that information, supply that to your real estate agent and then go purchase another home and hopefully each time you buy a home, you move up a little bit in quality and you continue to build equity>

Don’t pay someone else’s mortgage.  Pay yourself.

So as a hypothetical example if you if you were to buy a home in the next 2 months and it cost $250,000 at 5.5% interest you would pay approximately $1,419.47 per month. This is how you figure your principle and interest As you continue to make payments on your property the percentage that you own continues to grow up. So 10 years later, see below,  you decide you want to move into another house can you find out that because you have made 120 payments you have actually accrued a certain amount of equity let’s say hypothetically $43,000 worth of equity in your home …if this is the case you now have a bargaining chip you can use that $43,000 of equity as your down payment to move into your next property so you will list your current home for sale and on the day of closing you pay off your existing home pull out your equity and use that equity to leap frog into your new home.

Please call are text me at 978-590-5910 or email me curtis@curtisknight.com  if you have questions. I’m happy to come to your home and do a comprehensive comparative market analysis to see what your home will sell for in the current market.

Payments
Pmt #PaymentPrincipalInterestBalance
1$1,419.47$273.64$1,145.83$249,726.36
2$1,419.47$274.89$1,144.58$249,451.47
3$1,419.47$276.15$1,143.32$249,175.32
4$1,419.47$277.42$1,142.05$248,897.90
5$1,419.47$278.69$1,140.78$248,619.21
6$1,419.47$279.97$1,139.50$248,339.24
7$1,419.47$281.25$1,138.22$248,057.99
8$1,419.47$282.54$1,136.93$247,775.45
9$1,419.47$283.83$1,135.64$247,491.62
10$1,419.47$285.13$1,134.34$247,206.49
11$1,419.47$286.44$1,133.03$246,920.05
12$1,419.47$287.75$1,131.72$246,632.30
Year 1$3,367.70$13,665.94
13$1,419.47$289.07$1,130.40$246,343.23
14$1,419.47$290.40$1,129.07$246,052.83
15$1,419.47$291.73$1,127.74$245,761.10
16$1,419.47$293.06$1,126.41$245,468.04
17$1,419.47$294.41$1,125.06$245,173.63
18$1,419.47$295.76$1,123.71$244,877.87
19$1,419.47$297.11$1,122.36$244,580.76
20$1,419.47$298.47$1,121.00$244,282.29
21$1,419.47$299.84$1,119.63$243,982.45
22$1,419.47$301.22$1,118.25$243,681.23
23$1,419.47$302.60$1,116.87$243,378.63
24$1,419.47$303.98$1,115.49$243,074.65
Year 2$3,557.65$13,475.99
25$1,419.47$305.38$1,114.09$242,769.27
26$1,419.47$306.78$1,112.69$242,462.49
27$1,419.47$308.18$1,111.29$242,154.31
28$1,419.47$309.60$1,109.87$241,844.71
29$1,419.47$311.02$1,108.45$241,533.69
30$1,419.47$312.44$1,107.03$241,221.25
31$1,419.47$313.87$1,105.60$240,907.38
32$1,419.47$315.31$1,104.16$240,592.07
33$1,419.47$316.76$1,102.71$240,275.31
34$1,419.47$318.21$1,101.26$239,957.10
35$1,419.47$319.67$1,099.80$239,637.43
36$1,419.47$321.13$1,098.34$239,316.30
Year 3$3,758.35$13,275.29
37$1,419.47$322.60$1,096.87$238,993.70
38$1,419.47$324.08$1,095.39$238,669.62
39$1,419.47$325.57$1,093.90$238,344.05
40$1,419.47$327.06$1,092.41$238,016.99
41$1,419.47$328.56$1,090.91$237,688.43
42$1,419.47$330.06$1,089.41$237,358.37
43$1,419.47$331.58$1,087.89$237,026.79
44$1,419.47$333.10$1,086.37$236,693.69
45$1,419.47$334.62$1,084.85$236,359.07
46$1,419.47$336.16$1,083.31$236,022.91
47$1,419.47$337.70$1,081.77$235,685.21
48$1,419.47$339.25$1,080.22$235,345.96
Year 4$3,970.34$13,063.30
49$1,419.47$340.80$1,078.67$235,005.16
50$1,419.47$342.36$1,077.11$234,662.80
51$1,419.47$343.93$1,075.54$234,318.87
52$1,419.47$345.51$1,073.96$233,973.36
53$1,419.47$347.09$1,072.38$233,626.27
54$1,419.47$348.68$1,070.79$233,277.59
55$1,419.47$350.28$1,069.19$232,927.31
56$1,419.47$351.89$1,067.58$232,575.42
57$1,419.47$353.50$1,065.97$232,221.92
58$1,419.47$355.12$1,064.35$231,866.80
59$1,419.47$356.75$1,062.72$231,510.05
60$1,419.47$358.38$1,061.09$231,151.67
Year 5$4,194.29$12,839.35
61$1,419.47$360.02$1,059.45$230,791.65
62$1,419.47$361.67$1,057.80$230,429.98
63$1,419.47$363.33$1,056.14$230,066.65
64$1,419.47$365.00$1,054.47$229,701.65
65$1,419.47$366.67$1,052.80$229,334.98
66$1,419.47$368.35$1,051.12$228,966.63
67$1,419.47$370.04$1,049.43$228,596.59
68$1,419.47$371.74$1,047.73$228,224.85
69$1,419.47$373.44$1,046.03$227,851.41
70$1,419.47$375.15$1,044.32$227,476.26
71$1,419.47$376.87$1,042.60$227,099.39
72$1,419.47$378.60$1,040.87$226,720.79
Year 6$4,430.88$12,602.76
73$1,419.47$380.33$1,039.14$226,340.46
74$1,419.47$382.08$1,037.39$225,958.38
75$1,419.47$383.83$1,035.64$225,574.55
76$1,419.47$385.59$1,033.88$225,188.96
77$1,419.47$387.35$1,032.12$224,801.61
78$1,419.47$389.13$1,030.34$224,412.48
79$1,419.47$390.91$1,028.56$224,021.57
80$1,419.47$392.70$1,026.77$223,628.87
81$1,419.47$394.50$1,024.97$223,234.37
82$1,419.47$396.31$1,023.16$222,838.06
83$1,419.47$398.13$1,021.34$222,439.93
84$1,419.47$399.95$1,019.52$222,039.98
Year 7$4,680.81$12,352.83
85$1,419.47$401.79$1,017.68$221,638.19
86$1,419.47$403.63$1,015.84$221,234.56
87$1,419.47$405.48$1,013.99$220,829.08
88$1,419.47$407.34$1,012.13$220,421.74
89$1,419.47$409.20$1,010.27$220,012.54
90$1,419.47$411.08$1,008.39$219,601.46
91$1,419.47$412.96$1,006.51$219,188.50
92$1,419.47$414.86$1,004.61$218,773.64
93$1,419.47$416.76$1,002.71$218,356.88
94$1,419.47$418.67$1,000.80$217,938.21
95$1,419.47$420.59$998.88$217,517.62
96$1,419.47$422.51$996.96$217,095.11
Year 8$4,944.87$12,088.77
97$1,419.47$424.45$995.02$216,670.66
98$1,419.47$426.40$993.07$216,244.26
99$1,419.47$428.35$991.12$215,815.91
100$1,419.47$430.31$989.16$215,385.60
101$1,419.47$432.29$987.18$214,953.31
102$1,419.47$434.27$985.20$214,519.04
103$1,419.47$436.26$983.21$214,082.78
104$1,419.47$438.26$981.21$213,644.52
105$1,419.47$440.27$979.20$213,204.25
106$1,419.47$442.28$977.19$212,761.97
107$1,419.47$444.31$975.16$212,317.66
108$1,419.47$446.35$973.12$211,871.31
Year 9$5,223.80$11,809.84
109$1,419.47$448.39$971.08$211,422.92
110$1,419.47$450.45$969.02$210,972.47
111$1,419.47$452.51$966.96$210,519.96
112$1,419.47$454.59$964.88$210,065.37
113$1,419.47$456.67$962.80$209,608.70
114$1,419.47$458.76$960.71$209,149.94
115$1,419.47$460.87$958.60$208,689.07
116$1,419.47$462.98$956.49$208,226.09
117$1,419.47$465.10$954.37$207,760.99
118$1,419.47$467.23$952.24$207,293.76
119$1,419.47$469.37$950.10$206,824.39
120$1,419.47$471.52$947.95$206,352.87
Year 10$5,518.44$11,515.20
Curtis Knight Real Estate LAER Realty 20 ounce Mug-600

Curtis Knight Real Estate LAER Realty 20 ounce Mug ( I bring your new Mugs with your CMA

[Comparative market Analysis] )

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