| Last Sale | Zestimate |
| Date: | 08/2007 | 04/2013 |
| Amount: | 1,418,888 | 1,121,013 |
| Mortgage/mth: | 8,746 | 6,910 |
| Rent: | 5,500 | 5,500 |
| Diff: | 3,246 | 1,410 |
|
If you are renting...Hooray! You are saving $1,410 more every month than if you were to purchase the property today! Rejoice, and live a little. But only a little. Save for the rainy day and retirement. In 1 year, you save $16,920 compared to buying today. However, remember that a homeowner is paying down (investing) some of that into the house. Prudently invest your surplus as well!
If you are the landlord...Buckle up and soldier on. At least $3,246 is flowing out of your pockets every month. Keep heart that at least some of that is going to principal payments and remember that
rents do eventually rise! If you have a fixed mortgage, at least you would not have any more surprises. If you do not, check with your accountant. Adjustable rate mortgage resets can cause grief.. As always, a paying tenant is better than no tenant. Keep them happy and you will eventually reap the rewards down the line. *Think you can write better? Send a copy over to ( renttech @ gmail . com ) and if it is any good, it will go into rotation! |