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Should I Rent or Buy?
Most renters
have enough income to buy a home, but don't know it. For various rent levels,
this chart shows the home price the renter could afford without paying more
than their current rent, after tax deductions are figured in. The chart assumes
that they don't have large debts and that they have a 10% down payment.
The rent you pay could build equity in your own
real estate. The chart below shows how much you are "giving away" in rent and
interest over 10, 15, 20 or 30 years. That's money that could be used to build
equity in your own real estate!
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