It is acutally more expensive in today’s real estate market to rent!
Stay with me on this example, if you are paying around $2600 per month for the average mass community rental, did you know that with as little as $20,300 down payment, you could buy a home in the median range for Orange County at or around $580,000 and in five years you will save almost $118,197.01 if you buy instead of rent. Yes $118,197.01 in just five years. You can see for yourself below or run your own numbers here. Or you could download my latest ebook
Renting vs Buying Free E Book-Which is best for you? Click Here
What you’ll learn in this eBook:
- The pros and cons of renting
- The pros and cons of buying
- How to consider your income when buying a home
- How to calculate your debt to income ratio
- The factors to consider when buying a home
- What factors mortgage lenders pay close attention to
If you’re the kind of person who is looking for a real estate team in Costa Mesa, CA that is passionate about helping you achieve your real estate goals, you’ve found a home at The Kurt Real Estate Group. Kurt has achieved 5 Star status in Orange Coast Magazine 5 years in a row because he gets the job done ethically, honestly and with unparalleled professionalism.
From representing Sellers, Buyers and Investors, while also being connected to Hollywood’s Film Industry, Kurt is always in tune with the latest trends and opportunities that are unknown to other agents. That’s why The Kurt Real Estate Group is consistently recognized as one of the top real estate and property management teams in Orange County you owe it to yourself to give them a call- 877-957-6677
| Rent | vs. | Buy | ||
| Monthly Rent Payment: $2,600.00 Annual Return on Investment: 7.00% |
Purchase Price: $580,000.00 Down Payment: $20,300.00 Mortgage Term: 30 years Interest Rate: 3.75% Monthly Mortgage Payment: $2,592.06 |
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| Cost Benefit Analysis Calculations are based upon a 4% annual inflation rate over the course of 5 years (the time between now and when you estimate you would sell the home). Please allow for slight rounding differences. |
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| Renting Costs | Amount | Buying Costs | Amount | |
| Total Rent & Insurance Payments: | $169,889.26 | Total of Interest Payments: | $99,986.22 | |
| Total Closing Costs: | $5,597.00 | |||
| Total Property Tax Costs: | $35,095.76 | |||
| Total Maintenance Costs: | $7,019.15 | |||
| Total Homeowner’s Insurance Costs: | $16,962.95 | |||
| Total Association Dues: | $0.00 | |||
| Total PMI Costs: | $7,985.01 | |||
| Cost of selling home: | $0.00 | |||
| Total Costs | $169,889.26 | Total Costs | $172,646.09 | |
| Renting Benefits | Amount | Buying Benefits | Amount | |
| Interest Earned on Invested Funds: | $10,815.24 | Tax Savings: | $39,390.11 | |
| Home Appreciation: | $92,378.96 | |||
| Total Benefits | $10,815.24 | Total Benefits | $131,769.08 | |
| NET COST OF RENTING: | $159,074.02 | NET COST OF BUYING: | $40,877.02 | |
| Summary: You will save $118,197.01 if you buy instead of rent. | ||||
Kurt Galitski
Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecutive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677
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