Cost of Waiting

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. 

$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 particular set of variables may not match yours; as individual circumstances vary. Please 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 particular set of variables may not match yours; as individual circumstances vary. Please 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

Smart Money Calculator Link

CalXML Calculator Link

KJE Computer Solutions Calculator Link

Read more about the $8,000 housing tax credit at the IRS web site. 

 

Testimonials

"Crew was great. Very friendly, good attention to detail and took care of our concerns quickly."—Building Owner, Stephanie R.