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

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Contact Information

Mike Hawkins & James Harvey
Service First Realty Group
1714 S. 1100 E.
Salt Lake City, UT, 84105
Office: 801-467-7007
Cell: 801-467-7007
Fax: 801-467-7914
support@utahhometeam.com
www.UtahHomeTeam.com
are vacation homes an investment? | Print |

What do you think of a Salt Lake City, UT area vacation home as an investment?

You can buy a vacation home today for investment purposes as well as enjoyment. And yes, there are tax benefits.
Some people buy a vacation home in the Salt Lake City, UT area to use as a permanent retirement home later, which allows them to get ahead on their payments. Another benefit is that the interest and property taxes on a vacation home are tax-deductible.
Some real estate experts predict that vacation homes will appreciate in value due to rising demand from the aging Baby Boom generation.
You also can depreciate the property if you live in the house fewer than 14 days a year, or 10 percent of the number of rented days - whichever is greater.
You also need to consider whether you can afford to carry two mortgages, pay for the extra utilities and maintenance costs, and how this investment fits into your total personal finance picture.


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Last Updated ( Thursday, 04 September 2008 )
 
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