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rent or buy?

With rents in Boston continuing to rapidly increase, it's making more and more sense for people to purchase homes instead of renting. In addition to building equity in a home you own, you could save significantly on taxes.

The calculator below will give you an idea of the relative costs of renting vs. purchasing a home. Ir will calculate both the short term (one year) and long term costs and benefits of purchasing compared with renting.



Select your tax bracket   
Enter the local property tax rate    %
Select your filing status   
Number of years you intend to rent or buy   

If you buy...
Purchase price of home $
Down payment (in $) $
Interest Rate on mortgage    %
Annual appreciation of value    %

If you rent...
Monthly rent $
Annual rent increase    %


If you have any questions about this calculator, please do not hestitate to contact me at laurel@laurelmiyake.com or 617.796.6126 for more information.



 
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Copyright © 2001-2008, Laurel Miyake, Your Boston Real Estate Consultant
office :: 617.796.6126
fax :: 617.266.6010
laurel@laurelmiyake.com
Coldwell Banker Residential Brokerage Back Bay Office