Skip to main content

Per Joel Richardson Lender, Rent Vs. Own Analysis.

 


Hey ASM Crew-

 

This little analysis may help your renters get off the rent fence. You can either click the link below or hit the QR code—same presentation.

 

The comparison:

 

renting at $2500/mo + renters insurance + misc fees (pets, parking space, etc). It also assumes a 3% savings rate for their money

 

Versus

 

buying a $400K home with 3 options: 5% down conventional, 10% down conventional and FHA (3.5% down). It also assumes a property appreciation rate of 4% and the income tax bracket (for tax savings).

 

Results:

At the end of the day, with the tax write offs, owning is > $300/mo cheaper than renting.

Look at the tax benefits over 5yrs. Around $55K in write offs!

Remember, renters pay 100% interest (or $516K on this) vs $320K to $340K in interest and MI over that period. WOW!

 

Link: https://mcedge.tv/8z1tvq

 

 

 

I’d love to come to a staff meeting to run through this with you!

 

Joel

 

image020.png

 

Thank you for your business and referrals which help make our business thrive: 

Top 1% Scotsman Guide | Chairman’s Club | Top 20 in ABJ Book of List Mortgage Executive | Top 1% Originator | 

Five Star Mortgage Professional | Top Mortgage Professional in Austin Monthly’s Peer-to-Peer Survey

 

Email: jrichardson@primelending.com
Website: www.myfinanceteam.com
7000 N. Mopac Expressway, Suite 400A
Austin, TX 78731

Read My Reviews     |     Apply Now     |     Calculators

 

Facebook

Twitter

LinkedIn

YouTube

Google

Yelp

Zillow

 

Home loans made simple

PrimeLending, A PlainsCapital Company NMLS#: 13649. Equal Housing Lender.

 

 

 

Comments

Post a Comment

Most Popular Posts on ATX Real Estate Life Blog

Should you BUY a FLIPPED House? ATX Broker Associate GVM Tips, Insights.

 SHOULD YOU BUY a "FLIPPED" HOUSE?  Have you personally ever considered and wondered if you, yourself should BUY  a "flipped house." In my 15+ years of predominantly residential Central Austin brokerage practice and experience, here are my insights, opinions, suggestions and things to be cognizant of.  #1. Absolutely, for sure get a LICENSED INSPECTION on the flipped house! Not all flippers are the same. Just like in life there is a wide spectrum in regards to quality. Some flippers are flat out awful. They make very lipstick-like improvements, skip the expensive items such as the foundation, and plumbing and try to trick the consumer into paying more for a home, when the consumer shouldn't.  On the Flip Side (this joke was just too obvious) There are also excellent high-quality flippers whom selectively choose which homes they flip, and then they invest carefully and beautifully while genuinely  improving a home! Some of these hi-quality upper tier flippe...
Post a Comment
Read more

Per TheATX1 (@The ATX) on Twitter: Here are the Future Development Plans for West 6th and Lamar in Old West Austin, near Downtown, ATX.

 This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller. TheATX1 (@The ATX) posted: This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller.  https://x.com/theatx1/status/ 1944435039199985686?s=66
Post a Comment
Read more

THE UNICORN LIST for Austin, Texas 2026 Edition via GVM Real Estate Broker:

  🦄 GVM's Austin Texas UNICORN LIST™ George Vance McGee's Favorite Local Professionals, Businesses & Hidden Gems 2026 Austin Edition By George Vance McGee, Austin Native, Real Estate Broker Associate, Austin Silent Market Austin is a rapidly & constantly changing city, but some local businesses, professionals, and community institutions continue to stand out. Over years of working in real estate sales, leasing, lot development and simply enjoying life in Austin, I've developed my personal "UNICORN LIST" of trusted local resources. A "Unicorn" is an ATX resident who was born and raised in Austin, TX. My mother Andrea Roberts McGee (rest in peace) birthed me at Seton Hospital on West 38th Street in November of 1981.  ⚖️ Real Estate Attorneys Claiborne Cowan & Associates Wills Probate Estate Planning Real Estate Legal Matters Jon M. Daves Evictions Landlord & Tenant Law Leasing Disputes Property Rights Shapiro & Dunn Business Law Practi...
2 comments
Read more