Homes >> Cost of Waiting
Homes: The Cost of Waiting, Rent or Own?
Why not build wealth for yourself? Homeownership is the foundation, it can turn your housing expenses into assets. Tax deductions increase and you build equity for yourself, not your landlord. The "American Dream," security and the pride of ownership. Now is a great time to buy! Low mortgage rates, low prices and buyer tax rebates up to $8,000.
Below are just two examples, a $200,000 home and a $325,000 home. We have added links to sites where you can calculate your own situation. Even a link that shows how extra mortgage payments can benefit you. We put a link to the IRS web site explaining the FREE $8,000 waiting for you.
We hope you will build a home or buy an existing home with us. Consider your options, get the facts. Help yourself and help our Nation.
CALL US TODAY!
$200,000 Home
Cost of Home with a 10% Down payment. This is a hypothetical example calculated using a $180,000 loan, 30-year amortization period, 6.125% loan interest rate, effective property tax rate of $22 per every $1,000 of home value, 25% buyer income tax rate and a 6.9% annual appreciation in the value of home. This particulare set of variables may not match yours; as individual circumstances vary. Pleas consult a mortgage professional for more information.
The numbers don't lie. Putting off the purchase of a $200,000 home for just one year could cost you almost $20,000. How? Let us explain. First of all, interest rates, building costs, land costs and energy costs are steadily rising. Take into consideration the tax advantages, equity and energy savings a new "Energy Advantage Home™" generates, and the cost of waiting becomes apparent.
The Cost of Waiting
| 3 Months | 6 Months | 1 Year | 2 Years | |
| Realized tax deductions you're missing out on. | $936.56 | $1,873.13 | $3,746.25 | $7,492.50 |
| Equity you could be gaining through property appreciation. | $3,105.00 | $6,210.00 | $1,2420.00 | $2,4840.00 |
| Equity you could be gaining by paying down the principle. | $527.53 | $1,063.18 | $2,159.34 | $4,318.68 |
| Savings on Energy Costs ($100 per month ) | $300 | $600 | $1,200 | $2,400 |
| Estimated Cost of Waiting | $4,869.09 | $9,746.31 | $19,525.59 | $39,051.18 |
Estimate Monthly mortgage payment
(P & I, Taxes and Insurance) = $1,410.24
$325,000 Home
Cost of Home with a 20% Down payment. This is a hypothetical example calculated using a $260,000 loan, 30-year amortization period, 7% loan interest rate, effective property tax rate of $22 per every $1,000 of home value, 25% buyer income tax rate and a 6.9% annual appreciation in the value of home. This particulare set of variables may not match yours; as individual circumstances vary. Pleas consult a mortgage professional for more information.
The numbers don't lie. Putting off the purchase of a $325,000 home for just one year could cost you almost $30,000. How? Let us explain. First of all, interest rates, building costs, land costs and energy costs are steadily rising. Take into consideration the tax advantages, equity and energy savings a new "Energy Advantage Home™" generates, and the cost of waiting becomes apparent.
The Cost of Waiting
| 3 Months | 6 Months | 1 Year | 2 Years | |
| Realized tax deductions you're missing out on. | $1,521.91 | $3,043.84 | $6,087.66 | $12,175.31 |
| Equity you could be gaining through property appreciation. | $5,045.63 | $10,091.25 | $20,182.50 | $40,365.00 |
| Equity you could be gaining by paying down the principle. | $857.24 | $1,727.67 | $3,508.93 | $7,017.86 |
| Savings on Energy Costs ($100 per month ) | $300 | $600 | $1,200 | $2,400 |
| Estimated Cost of Waiting | $7,724.78 | $15,462.76 | $30,979.09 | $61,958.17 |
Estimate Monthly mortgage payment
(P & I, Taxes and Insurance) = $2,325.62
Calculate your own savings at any of these sites:
Click here to see the: Benefit of extra payments toward a mortgage
Read more about the $8,000 housing tax credit at the IRS web site.
CALL US TODAY!