Bill Gero Real Estate Blog - Chester County, Main Line of Philadelphia

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Renters - Why Buy instead of Renting a Home?

Purchasing a Home builds "Your Net Worth" instead of the Landlord. Paying rent gives you no return on your investment. Don't Throw Your Money Away. Check out this examples below:

Buying a Home vs. Cost of Renting 

Rental/Month Cost of Renting over
3 Years
Cost of Renting over 5 Years
$800 $28,800 $48,000
$900 $32,400 $54,000
$1,000 $36,000 $60,000
$1,100 $39,600 $66,000
$1,200 $43,200 $72,000
$1,300 $46,800 $78,000
$1,400 $50,400 $84,000
$1,500 $54,000 $90,000
$1,600 $57,600 $96,000
$1,700 $61,200 $102,000
$1,800 $64,800 $108,000

See it can be costly to rent for an extended period of time. If you have "Good Credit", then you should consider getting pre-approved with a mortgage lender. I can assist you with a lender if you don't have one.  They can discuss various mortgage programs. Own Today, Call me to learn more about Buying a Home at 484-459-8007 Direct Office Line or 610-647-2600 Office. Visit my website http://www.BillGero.com for Chester County & Main Line of Philadelphia real estate information, listings, search all properties, etc.

Comment balloon 0 commentsBill Gero • February 12 2008 04:41PM

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