By: Harbinder Panesar

Rent or Buy?

Tags: Rent, Buy

Welcome To My Website, www.bramptonhomes.info

I Help Buyers, Sellers and Renters Not Only In Their Move But Also Guide Them To Make A Move That Leads Them To A Better Choice.

For Those Who Are Looking To Rent; I Would Like Them To Think About The Amount They Are or Have Been Paying Every Month To Landlord. Please Take a Moment And Think About The Following:

  1. How Much Money You Will Pay For Another Year For Someone Else’s Mortgage
  2. Can You Buy A Home or Condo and Pay This Money Toward Your Own Mortgage
  3. See The Formula Below to Check How Much Mortgage You Can Carry Instead Of Rent?

 
Here Is A Simple Formula If You Want To Calculate How Much Mortgage You Can Carry:
 
Assume Your:
 
Gross Family Income = $100,000 a Year
Car Loan, Line Of Credit etc. = $0 a year
Property Taxes For a Property You Want to Buy = $6,000 a Year
 
You Can Have = $100,000 * 30%  = $30,000 - $6,000 = $24,000 Per Year For Mortgage Payments or $2,000 per Month in Mortgage Can Be Paid
 
Most of the People are Paying Rents as Follows:
 
3 Bed, 2 Bath Townhouse in Mississauga = $2,100 - $2,300 + Utilities  
1 Bedroom 500- 600 Sq. Ft. Condo in Square 1 Area = $1,900-$2,000 + Hydro  
2 Bedroom 2 Bath Condo in Downtown Area = $2,800 - $3100 + Hydro  
4 Bed, 3 Bath Home in Brampton Area = $2,400 - $2,600 + Utilities  
 
If You Compare Mortgage With Rent; You Can Easily See Which One is Better.
 
Mortgage Amount Will Decrease Over Time, Increase The Value of Your Property & Generates Equity
Rent Will Increase Over Time, You Do Not Get Any Money From Landlord, Basically No Savings and When You Think Of  Buying a House --- Prices Will Be Way Higher and Hard To Afford
 
Please Call Me to Buy Rather Than Rent A Home!!!

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Make A Better Move!!!