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Email Jan & Wally
Jan Bigelow: 928.300.1699
Wally Reule: 928.301.5943
I just read an interesting article stating that many potential first time home buyers are deciding to continue to rent because home appreciation is less than 10% per year. The author included the following chart, which shows very clearly that even with 4% appreciation over 5 years, the home owner would end up with a nice chunk of equity, especially compared to the goose egg with renting.
|Purchase Price||$175,000||Future Value @ 4% Annual Appreciation||$182,000||$189,280||$196,851||$204,725||$212,914|
|3.5% Down Payment||$ 6,125||Beginning Loan Balance @ 4% Interest||$166,153||$163,069||$159,858||$156,517||$153,039|
|Loan Amount||$168,875||Net Equity||$15,847||$26,211||$36,993||$48,208||$59,875
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