At $800 per month, with the average 6% rental increase per year, you will pay $126,536 over a 10-year period but have ZERO ownership of the property.
The average house you buy has a long-term appreciation rate of 4.3% per year. If you were to purchase a home and stay in it for that same 10 year span, you could essentially have made an average of a 43% profit, not including what you have paid off in the 10 years and the interest deduction you take every year on your income tax.
Real estate is still the best investment you can make. Buy now, while interest rates are still low.
For more information on Buying a home in the Greater Savannah GA area, call the Greater Savannah Real Estate Expert!
Trisha Cook 912-844-8662