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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
Defining What You Want | Print |
Deciding on what you want vs. what you Need.

Before going out to search for your Pekin Illinois area dream home, it is important to know what that dream home looks like. Making a prioritized list of what you want in your next home will help narrow down your search.

The size of the house depends, not only on your immediate needs, but also what may be needed in the future. For example, a young couple would need to think about possibilities of more children in the future, while a family with teenagers may address the fact that those teens may soon be off at college soon.

You needs for additional rooms as studies, or guest rooms should be addressed also. Other desired features in the house should be considered also. For instance, if you are a gardener, a house with a yard would be wanted.

Thinking about desired locations is important too. Check out local information like neighborhood statistics and community links. If you have children, researching the schools in the area would be necessary.

Depending on your funding, compromises may need to be made.


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Last Updated ( Thursday, 04 September 2008 )
 
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