Comparing Renting vs. Owning

     Comparing Renting vs. Owning One of the hottest topics in housing is whether to rent or own a home. Market conditions and personal finances and other things factor into the decision to rent or own a home. Learn how calculations actually work in order to feel confident on deciding what is right for the budget and family.   Check Numbers The first thing to understand is how math works for each individual looking at homes. Calculating monthly costs of home ownership, subtracting tax benefits and comparing the final figure will help gauge the difference between home rental versus home ownership in the same neighborhood. Assume a credit score of 750, a $300,000 home purchase price with 10 percent down ($30,000) for a 30-year fixed mortgage. Current rates hover around 3.25 percent. A mortgage calculator will tally the total monthly cost as follows:   Mortgage payment of principal and interest  $1,175 Property taxes  $300 Private mortgage insurance (PMI)  $133 Homeowners insuran
http://www.cprealestate.com/blog/2016/11/22/comparing-renting-vs-owning

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