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Buy vs. Lease a Home. EGR 403, Summer 2004, Team 10. Jeffrey Scheinost – Organizer Stephen Casey – “Techie” Omabamid Odubela – Summarizer Mohammad Fazil – “Techie”. Introduction. Buying vs. Leasing a home Analysis Considerations Buyer/Leaser- combined household income $90,000

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buy vs lease a home

Buy vs. Lease a Home

  • EGR 403, Summer 2004, Team 10

Jeffrey Scheinost – Organizer

Stephen Casey – “Techie”

Omabamid Odubela – Summarizer

Mohammad Fazil – “Techie”

introduction
Introduction
  • Buying vs. Leasing a home
    • Analysis Considerations
      • Buyer/Leaser- combined household income $90,000
      • Invests 10% annually
      • Assume taxes are constant 25%
      • Can have money for down payment
scenario 1 buy
Scenario 1- Buy
  • Condominium in Glendale
  • Priced at $370,000
  • 1245 s.f., 3 bedroom, 2.5 bath
  • Puts 20% down
  • Fixed Mortgage
    • 5.6% A.P.R.
    • Lender: American Home Loans
    • 30 Year Loan
  • Maintenance costs - $100/month
  • Cash Flow Analysis
scenario 2 buy
Scenario 2- Buy
  • Condominium in Glendale
  • Priced at $370,000
  • 1245 s.f., 3 bedroom, 2.5 bath
  • 100% Financed w/ Private Mortgage Insurance
  • Fixed Mortgage
    • 5.6% A.P.R.
    • Lender: American Home Loans
    • 30 Year Loan
  • 30 year loan
  • Maintenance costs - $100/month
  • Cash Flow Analysis
scenario 3 lease
Scenario 3 - Lease
  • Apartment located in Glendale CA
  • 1235 s.f. 2 bedroom, 2.5 bath
  • Rental price of $2,499 per month ($1000 Security Deposit)
  • Annual rent increase of 6%
  • No Maintenance costs involved
  • Cash Flow Analysis
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