Rent Adds Up and Gives a Tenant NO ROI
By Toby Barnett, Toby Barnett
(KW North Sound)
Monthly Rent is a 100% Interest Rate and Gives a Tenant Zero Rate of Return. There is a lot of discussion out there with interest rates rising and home loans becoming unaffordable. Let's break down some math for those of you that are currently renting. If your current lease is $2,400 a month that equates to $28,800 a year you're giving your landlord. A 2 year period that number jumps to $57,600 and in a 5 year period it equates to $144,000 that you never seen any ROI from. And, if you're in your mid 40s and you've rented for 20 years, you've paid out $576,000. So, take a moment and do some math. How much is your rent? How many years you've been renting? And, see what that looks like. And, if you have questions about buying a home and start putting that money in your pocket, because you ...