ilmscore | Prediction Details
"after 13 years of making mortgage payments your mortgage balance would be reduced to $276,000 at 1% net appreciation a year which takes into account Rising property tax values and higher Insurance costs that means the home would eventually be worth $450,000 this means after 6% commissions and closing costs you're left with $423,000 of which $276,000 is the mortgage leaving you with $147,000 left over as profit however since you're required to continue making those average mortgage payments of $2,400 a month plus property taxes Plus Insurance over 13 years that equates to $465,000 leaving you with a net cost of $318,000 or $2,000 $38 a month on average to say you own the house"
By Graham Stephan | May 29, 2024 | Pending
From video
Renting vs Buying a Home: What NOBODY Is Telling You 00:15:42 - 00:16:30
Interpreted Prediction
After 13 years of homeownership on a $400,000 home, the net cost is approximately $318,000, averaging $2,038 per month, after accounting for sale costs, mortgage payments, and property expenses.

Prediction Details

Topic
Homeownership Costs Over 13 Years

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