You wouldn’t flush money down the toilet would you? Yet, I suspect many of you reading this article probably are, and don’t even realize it. Are you renting right now? If you are, that is precisely what you are doing.
There is good news however; you can buy a brand new home. In fact, you can’t afford not to!
^ This home could be yours! View listing now.
Let’s look at the numbers and see:
If you borrow $400,000 on a brand new home at 4% interest rate over a 30-year mortgage, your payment would be $1,909.66. You can do this with 10% down and purchase a $440,000 home!
Many apartments in Metro Milwaukee and Waukesha County have rents from $1,500 to $2,000 a month! You can easily get double the square feet on a brand new home for a similar payment.
The floor plan on the left is a 2-story, brand new home (built on your lot for just under $290,000) with 2,475 sq. ft. – the one on the right is an apartment (available for $1,950) with 1,434 sq. ft. – what floor plan would you prefer to live in..? Seems like a simple choice!
But wait, there’s more…
Brand new homes have tax savings too!
That $400,000 loan will save you $6,160 in Federal and State taxes in one year! That is around $580 a month in reduced tax liability.
If I told you I could raise your wealth by over $7,000 in one year, would you be interested? The best part about a brand new home is the wealth that you will be building. That $400,000 30-year loan will accumulate $7,044 in principal, in one year!
The numbers don’t lie. You are financially better buying a brand new home. When you start to look at the other benefits such as more privacy, space, quiet living, a yard, etc. you might want to grab some rubber gloves and start scooping up that money you`re flushing down the toilet in rent.
You`re smarter than that – start saving!