Parents
Let the roommates pay the mortgage...
while your child lives RENT FREE.
Let the roommates pay the mortgage...
Using a conservative estimate of $415 per month for rent, your cost to pay for a student apartment over four years almost $20,000! Look at our common sense breakdown of how you could save that money while earning thousands more.
Common Sense of Leasing vs Buying
| Lease | Buy | |
|---|---|---|
| Monthly Expense | $415 (rent) | $1225* (mort, tax, insur, HOA) |
| Monthly Income | $0 | $1245 (roommates rent) |
| Monthly Net Cash Flow | -$415 | $20 |
| Annual Net Cash Flow | -$4980 | $240 |
| 4-Year Net Cash Flow | -$19,920 | $960 |
| 4-Year Equity | $0 | $5,315 |
| 4-Year Loss/Gain | -$19,920 | $6275 |
This positive cash flow doesn't even take into the consideration appreciation of the property over 4 years. 3-5% appreciation is a conservative figure. If you sold the property after 4 years your potential gross return could be about $23,000 in addition to the cash flow projection of $6275.00.
*Mortgage rates are quoted assuming 15% down on loan of $179900, total being financed $152915.00, 30 Year Fixed at 7%, Rates as of October 29, 2007 on www.bankrate.com. HOA fees, taxes and insurance are subject to change.
Property that grows in value...
The Orchard is the perfect investment opportunity. The purchase of a home at The Orchard creates a long lasting real estate investment that you can rent once your student graduates or sell for a profit, as these properties are expected to grow in value. Even if your student leaves The University of West Georgia for a transfer to a larger institution, there is always a new class of students each year looking for leasing opportunities. Our professional property management staff is available to assist you to make rental or resale easy.
Make sure you understand the upside of buying versus leasing. Not only are you earning over $6,000 in positive cash flow, equity and potentially thousands in appreciation, you are NOT PAYING OUT A SINGLE PENNY for your child to live at The Orchard at Carrollton. At The Orchard, not only is it possible, it's easy and your student will thank you. Contact one of our sales agents now to schedule an appointment or learn more.
