Buy vs Rent


Build Wealth


Your home will appreciate in value and we believe real estate is one of the best investments you will ever make. For example, if you buy a home for $200,000 and it appreciates 5% per year, you will have built up approximately $50,000 equity in 5 years. Also, you need to consider your monetary return on the money you actually invest in the property. Let's say you put zero down then you have made $50,000 on $0 down payment-what a return! Obviously, there are other costs such as repairs and upkeep that you must subtract from the equation but you get the picture.


Tax Deductions


The interest and real estate tax portion of your mortgage payment may be tax deductible which will give you a lower after-tax payment. Also, currently PMI is tax deductible for new homeowners with adjusted gross income of $100,000 or less. When you purchase a home a mortgage payment may be lower than what you pay for rent. If the mortgage payment is higher it may still make sense to own a home because you should be able to deduct the property taxes and mortgage insurance which may give you a lower net mortgage payment. Try some rent versus own calculations to see if homeownership is right for you. Also, you will be paying down principal on the mortgage which will build up more equity in the home. You need to contact your tax advisor regarding deductibility and potential tax benefits in your particular financial situation.


No Place Like Home


There is nothing like owning your own home. We started out as renters, and once we started our real estate business, we thought "why have we been paying thousands of dollars in rent?" A first time home buyer needs to start somewhere, and buying a moderately priced condo or starter home might be your best bet. Get pre-approved today!


Stop Paying Rent!


Rents are skyrocketing across the country and over half the renters are paying over 35% of their income toward rent. Currently, rents are increasing at an average rate of 4% per year compared to home prices which are rising at a rate of 3% per year which means renting is becoming more costly and less affordable.

The table below illustrates how much rent you will pay your landlord in 3, 5, and 10 years based on an annual rent increase of 4% per year. The average rent in the United States is about $900 per month and you will notice that in 5 years you will pay your landlord about $60,000 and you will have nothing to show for it! We think it's time for you to seriously consider buying a home versus throwing money away on rent. Knowledge is Power!



Rent3 Years5 Years10 Years
$500 $19,090 $33,149 $73,625
$600 $22,909 $39,779 $88,350
$700 $26,727 $46,409 $103,075
$800 $30,545 $53,039 $117,800
$900 $34,363 $59,669 $132,525
$1,000 $38,182 $66,299 $147,250
$1,100 $42,000 $72,929 $161,975
$1,200 $45,818 $79,559 $177,000








Contact Info
Gilbert Torres, Vanessa Gonzalez, P.A.

Residential. Investment. Rental

DECO International Realty

134 S Dixie Hwy. Suite 200B
Hallandale Beach  Florida 33009

305.528.9827 914.502.7351

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