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The AmeriFirst Home Buyer Learning Center

Rent vs Buy - A Housing Market Debate in Pictures [INFOGRAPHIC]

Posted by Dan Moyle on Tue, Aug 16, 2011

Should you rent or buy? It really all depends on if you like paying for someone else's mortgage and equity. Even in this "down market," equity is still building. Plus, the tax write-offs help keep money in your pocket. We found The New York Times Buy Rent Calculator that helps break it down in numbers. We also created this inforgraphic to show you why a first home mortgage has more benefits than renting an apartment or house.

Click the picture for a larger version.

AmeriFirst infographic rent vs buy

Other Rent vs. Buy factors to consider:

Rent increases every year for most renters. Mortgage payments only change (on a fixed-rate home mortgage loan) if your property taxes change. Your principal and interest stays the same.

Neighbors. Renting an apartment likely means you're dealing with neighbors. They could be noisy, rude, annoying or even dangerous. It's a renters nightmare. Buying a home means having at least a little property between you and your neighbors.

Deposits. Sometimes it's damage you left behind, other times it's a landlord simply keeping your money. But that security deposit you paid may not come back to your account. Sometime the costs of renting start small and add up to a lot of money.

Ready to look into what it takes to get mortgage-ready? Download our free eBook "The Get Mortgage Ready Kit" at the button below.

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Topics: first time home owner, first time home buyer, rent vs buy

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Down payment and terms shown are for informational purposes only and are not intended as an advertisement or commitment to lend.  Please contact us for an exact quote and for more information on fees and terms.  Not all borrowers will qualify.
AmeriFirst Home Mortgage is a division of AmeriFirst Financial Corporation. 950 Trade Centre Way Suite 400 Kalamazoo, MI 269.324.4240 Equal housing lender

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