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Rent vs. Buy

With rising interest rates, folks are now more seriously considering the rent vs. buy options. Buying in Los Angeles County will save you 96.4 percent per month!

rent_v_buy_2015

The costs of buying include the monthly mortgage payment, insurance and taxes, and improvements and repairs. These costs were offset by the benefits of buying: mortgage interest and property tax deductions, and investment appreciation.

The costs of renting include the monthly rent payment and renter insurance, which were offset by the benefits of renting: the appreciation on investing the down payment in the stock market.

rent-vs-buy

Here is a link to the rent vs. buy calculator for your reference:

http://www.realtor.com/mortgage/tools/rent-or-buy-calculator/

Source: CAR.

Please contact Joan Bang to review your real estate goals at (213) 675-3289 or at Joan.Bang@dilbeck.com.

 

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Joan Bang, GRI
Real Estate Consultant
Dre# 01747112
Cell: (213) 675-3289
Joan.Bang@dilbeck.com

Dilbeck Realtors
1499 Huntington Drive #100
South Pasadena, CA 91030