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Brad Barnard
Karl E. Kaebel Realtor
511 Elizabeth Street
Pekin, Illinois, 61554
Office: 309-241-0313
Cell: 309-241-0313

Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)

$   This is your rent over the period
$   This is mortgage over the period
considerations before buying | Print |

What are some pre purchase considerations to think about?

When you buy a resale home, you can find out a lot more about the Pekin Illinois area property and the neighborhood before you buy than when you buy a new home.

Land to support new-home developments usually is located on the outskirts of town. Potential buyers should ask the developer about future access to public transit, entertainment activities, shopping centers, churches and schools. Find out how far it is to the nearest library, for example.

Local zoning ordinances also should be reviewed. A rather remote area can turn into a fast-food-chain haven within a couple of years. Try to ensure that the neighborhood, if not strictly residential, will not begin sprawling out of control.


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Last Updated ( Thursday, 04 September 2008 )
 
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