Buying can save you $241,359 over 30 years!
| ***The Following calculations are based off of paying $3,000 in rent per month. Purchasing a home for $500,000 with 3.5% down payment. Each individual calculations may be different. For a specific rent vs own scenario please contact me today! (415) 336.8191*** Rent vs. Buy Analysis | Rent | Buy | |
|---|---|---|---|
| Rent and fees | $1,273,127 | ||
| Mortgage payments | $854,500 | ||
| Property insurance | + | $6,644 | |
| Property taxes | + | $365,414 | |
| Maintenance | + | $12,000 | |
| Opportunity cost (tied-up equity) | + | $1,583,431 | |
| Tax savings (interest/taxes) | - | $136,296 | |
| Appreciation | - | $1,660,971 | |
| Total cost | = | $1,273,127 | $1,024,720 |
| Present value at inflation | $760,973 | $519,614 | |
| Difference | $241,359 |
| Year | Rent & Fees | Mortgage Payment | Insurance, Taxes & Maintenance | Opportunity Cost | Tax Savings | Appreciation | Cost of Buying |
|---|---|---|---|---|---|---|---|
| 1 | $36600 | $28483 | $6000 | $3038 | $6502 | $25000 | $6020 |
| 2 | 36966 | 28483 | 6280 | 5122 | 6414 | 26250 | 7222 |
| 3 | 37336 | 28483 | 6574 | 7307 | 6323 | 27562 | 8480 |
| 4 | 37709 | 28483 | 6883 | 9598 | 6227 | 28941 | 9796 |
| 5 | 38086 | 28483 | 7207 | 12000 | 6128 | 30388 | 11174 |
| 6 | 38467 | 28483 | 7547 | 14517 | 6024 | 31907 | 12616 |
| 7 | 38852 | 28483 | 7905 | 17157 | 5916 | 33502 | 14126 |
| 8 | 39240 | 28483 | 8280 | 19925 | 5804 | 35178 | 15706 |
| 9 | 39633 | 28483 | 8674 | 22826 | 5687 | 36936 | 17360 |
| 10 | 40029 | 28483 | 9087 | 25868 | 5564 | 38783 | 19091 |
| 11 | 40429 | 28483 | 9522 | 29057 | 5437 | 40722 | 20903 |
| 12 | 40833 | 28483 | 9978 | 32401 | 5304 | 42758 | 22800 |
| 13 | 41242 | 28483 | 10457 | 35907 | 5165 | 44896 | 24785 |
| 14 | 41654 | 28483 | 10960 | 39583 | 5021 | 47141 | 26863 |
| 15 | 42071 | 28483 | 11488 | 43436 | 4870 | 49498 | 29039 |
| 16 | 42491 | 28483 | 12042 | 47477 | 4713 | 51973 | 31316 |
| 17 | 42916 | 28483 | 12624 | 51714 | 4550 | 54572 | 33699 |
| 18 | 43346 | 28483 | 13235 | 56156 | 4379 | 57300 | 36195 |
| 19 | 43779 | 28483 | 13877 | 60813 | 4201 | 60165 | 38807 |
| 20 | 44217 | 28483 | 14551 | 65696 | 4016 | 63174 | 41541 |
| 21 | 44659 | 28483 | 15258 | 70816 | 3823 | 66332 | 44403 |
| 22 | 45106 | 28483 | 16001 | 76185 | 3621 | 69649 | 47399 |
| 23 | 45557 | 28483 | 16781 | 81814 | 3411 | 73132 | 50536 |
| 24 | 46012 | 28483 | 17601 | 87716 | 3192 | 76788 | 53820 |
| 25 | 46472 | 28483 | 18461 | 93905 | 2964 | 80627 | 57257 |
| 26 | 46937 | 28483 | 19364 | 100394 | 2726 | 84659 | 60856 |
| 27 | 47406 | 28483 | 20312 | 107198 | 2478 | 88892 | 64624 |
| 28 | 47880 | 28483 | 21307 | 114333 | 2219 | 93336 | 68568 |
| 29 | 48359 | 28483 | 22353 | 121814 | 1949 | 98003 | 72697 |
| 30 | 48843 | 28483 | 23450 | 129658 | 1668 | 102903 | 77020 |
Labels: George Langford, rent vs own, San Francisco mortgage, San Francisco Real Estate, Zephyr Real Estate
posted by George Langford at
10:19 AM
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