Buy vs Rent SeminarConnie Schaffer V.P. Corporate ServicesCRP, ABR, CNAS, CNRS, CNISOffice: 215-855-5600 Cell: 215-317-1638cschaffer@cbrealtycorp.comwww.cbrealtycorp.com

Renter Demographics

Nearly 1/3 of all households rent.People who frequently relocateThose with unstable employmentThose with need to improve their creditThose that think they cannot afford

to buy!

Cost of Renting

First and last months rentSecurity DepositRenter’s InsuranceUtilitiesMaybe Association Fees

Advantages of Renting

Easy to moveLess maintenance and repair workMay offer amenities like pool or tennis courtOther expenses may be included in rent like electric, trash, etc.

Disadvantages of RentingNo tax deductionsSubject to lease termsRents can increaseProperty can be sold with little noticeFew opportunities to upgradeRestrictions such as pets, noise, etcWhen you leave, there is no equity

Cost of OwnershipMonthly mortgage paymentDown PaymentClosing CostsUtilitiesHomeowner’s InsuranceReal estate taxesMaintenance

Advantages of OwnershipPride of OwnershipBuild equity and Potential for value to increaseIncome tax deductionsMore privacy, more in chargeMore room and storageCan customize and enjoy pets, specific lifestyle

The ProcessGet pre-approvalChoose a buyer’s agentExecute an agreement of saleTake mortgage applicationInspectionsMortgage commitmentWalk thruSettlement! Congratulations!!

Current Market ConditionsMontgomery County YTD Market Snapshot thru May 2013Settled volume up 14.50%Median Sale Price up 3.24%Average Sale Price/Original Price 92.8%Upper Providence TownshipAverage Days on the market- 47 daysAverage List to Sale Price- 96%

Keep in Mind…

People are always paying for a home. It’s just a matter of whether it is for themselves

or their landlord.

Questions?

Contact Coldwell Banker Realty Corp215-855-5600

info@cbrealtycorp.comwww.cbrealtycorp.com