Most renters don’t know how easy it is to purchase a new home or realize that their mortgage payments could be equal or less than what they are currently paying in rent. Homeownership is a great way to establish roots within your community, provide stability and build equity.
The perks of home ownership far outweigh those of renting. In many cases the cost of ownership can be less than renting. Property taxes and interests can be itemized* (be sure to speak to a tax advisor). Owning gives you the opportunity to remodel or renovate and make the space truly yours. With stable monthly payments, you don’t have to worry about lease renewals or increases in rent. Plus you can make a positive impact on your credit score when paying loans on time.
|
Rent Per Month |
10 Years |
20 Years |
30 Years |
|
$700 |
$84,000 |
$168,000 |
$252,000 |
|
$800 |
$96,000 |
$192,000 |
$288,000 |
|
$900 |
$108,000 |
$216,000 |
$324,000 |
|
$1,000 |
$120,000 |
$240,000 |
$360,000 |
|
$1,200 |
$144,000 |
$288,000 |
$432,000 |
|
$1,500 |
$180,000 |
$360,000 |
$540,000 |
|
$2,000 |
$240,000 |
$480,000 |
$720,000 |
Ready to make homeownership happen? Contact Penny & Team today!
If you have any questions, please don’t hesitate to call (206 842-8421 / 360 697-9966) or email Penny@TheOrginalPenny.com. We serve Bainbridge Island, Poulsbo, Kingston, Silverdale, Bremerton, Port Orchard, Port Ludlow and every place in-between.
Image by Horst Tinnes from Pixabay