Sheet1Home purchase modelPurchase price230000Downpayment40000Interest rate4%Principal amortization (years)25Property tax rate0.00%Annual maintainance600Housing association dues (annual)0Annual insurance200Assumed annual appreciation3%Assumed marginal income tax rate0%General inflation3%Monthly mortage payment997.62Assuming interest compounds monthlyCost of renting similar home1200Assumed rental price inflation2%Assumed annual (after tax) return on cash6%Month0123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202203204205206207208209210211212213214215216217218219220221222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254Buying scenarioHome Value230,000230,575231,151231,729232,309232,889233,472234,055234,640235,227235,815236,405236,996237,588238,182238,778239,375239,973240,573241,174241,777242,382242,988243,595244,204244,815245,427246,040246,655247,272247,890248,510249,131249,754250,378251,004251,632252,261252,892253,524254,158254,793255,430256,069256,709257,350257,994258,639259,285259,934260,583261,235261,888262,543263,199263,857264,517265,178265,841266,506267,172267,840268,509269,181269,854270,528271,205271,883272,562273,244273,927274,612275,298275,986276,676277,368278,061278,757279,454280,152280,853281,555282,259282,964283,672284,381285,092285,804286,519287,235287,953288,673289,395290,118290,844291,571292,300293,030293,763294,497295,234295,972296,712297,454298,197298,943299,690300,439301,190301,943302,698303,455304,214304,974305,737306,501307,267308,035308,805309,577310,351311,127311,905312,685313,466314,250315,036315,823316,613317,404318,198318,993319,791320,590321,392322,195323,001323,808324,618325,429326,243327,059327,876328,696329,518330,341331,167331,995332,825333,657334,491335,328336,166337,006337,849338,694339,540340,389341,240342,093342,948343,806344,665345,527346,391347,257348,125348,995349,868350,742351,619352,498353,380354,263355,149356,037356,927357,819358,713359,610360,509361,411362,314363,220364,128365,038365,951366,866367,783368,702369,624370,548371,475372,403373,334374,268375,203376,141377,082378,024378,969379,917380,867381,819382,773383,730384,690385,651386,615387,582388,551389,522390,496391,472392,451393,432394,416395,402396,390397,381398,375399,371400,369401,370402,373403,379404,388405,399406,412407,428408,447409,468410,492411,518412,547413,578414,612415,648416,688417,729418,774419,821420,870421,922422,977424,035425,095426,157427,223428,291429,362430,435431,511432,590433,671Debt190,000189,636189,270188,903188,536188,166187,796187,424187,051186,677186,302185,925185,547185,168184,788184,406184,023183,639183,254182,867182,479182,089181,699181,307180,914180,519180,123179,726179,327178,927178,526178,124177,720177,315176,908176,500176,091175,680175,268174,855174,440174,024173,606173,187172,767172,345171,922171,498171,072170,644170,215169,785169,353168,920168,486168,050167,612167,173166,733166,291165,848165,403164,957164,509164,060163,609163,157162,703162,248161,791161,333160,873160,411159,948159,484159,018158,550158,081157,611157,138156,665156,189155,712155,234154,753154,272153,788153,303152,817152,328151,838151,347150,854150,359149,863149,365148,865148,363147,860147,356146,849146,341145,831145,320144,806144,291143,775143,256142,736142,215141,691141,166140,639140,110139,579139,047138,513137,977137,439136,900136,358135,815135,270134,724134,175133,625133,072132,518131,962131,405130,845130,284129,720129,155128,588128,019127,448126,875126,301125,724125,145124,565123,982123,398122,812122,224121,633121,041120,447119,851119,253118,653118,051117,446116,840116,232115,622115,010114,395113,779113,161112,540111,918111,293110,667110,038109,407108,774108,139107,502106,863106,221105,578104,932104,284103,634102,982102,328101,671101,012100,35199,68899,02398,35597,68697,01496,33995,66394,98494,30393,62092,93492,24791,55690,86490,16989,47288,77388,07187,36786,66185,95285,24184,52783,81183,09382,37281,64980,92480,19679,46678,73377,99877,26076,52075,77875,03374,28573,53572,78372,02871,27070,51069,74768,98268,21567,44466,67165,89665,11864,33863,55462,76961,98061,18960,39659,59958,80057,99957,19456,38755,57854,76553,95053,13252,31251,48950,66349,83449,00248,16847,33146,49145,64944,803Equity in home40,00040,93941,88142,82643,77344,72345,67646,63147,58948,55049,51350,47951,44852,42053,39454,37155,35156,33457,31958,30759,29860,29261,28962,28863,29164,29665,30466,31467,32868,34569,36470,38671,41172,43973,47074,50475,54176,58177,62378,66979,71880,76981,82482,88183,94285,00586,07287,14188,21489,28990,36891,45092,53593,62294,71395,80796,90498,00599,108100,214101,324102,437103,553104,672105,794106,919108,048109,180110,315111,453112,594113,739114,887116,038117,192118,350119,511120,675121,843123,014124,188125,366126,546127,731128,918130,109131,304132,501133,702134,907136,115137,326138,541139,759140,981142,206143,435144,667145,903147,142148,385149,631150,881152,134153,391154,651155,915157,183158,454159,729161,007162,289163,575164,864166,157167,454168,754170,059171,366172,678173,993175,312176,635177,961179,292180,626181,963183,305184,650186,000187,353188,710190,071191,435192,804194,176195,553196,933198,317199,706201,098202,494203,894205,298206,706208,118209,534210,954212,378213,806215,239216,675218,115219,560221,009222,461223,918225,379226,845228,314229,788231,265232,747234,234235,724237,219238,718240,221241,729243,240244,757246,277247,802249,331250,864252,402253,945255,491257,042258,598260,158261,722263,291264,864266,442268,025269,611271,203272,799274,399276,004277,614279,228280,847282,470284,098285,731287,368289,011290,657292,309293,965295,626297,291298,962300,637302,317304,002305,691307,386309,085310,789312,498314,212315,931317,655319,383321,117322,855324,599326,347328,101329,859331,623333,391335,165336,943338,727340,516342,310344,109345,914347,723349,538351,357353,182355,013356,848358,689360,535362,386364,243366,105367,972369,845371,723373,606375,495377,389379,288381,193383,104385,020386,941388,868Interest on debt633632631630628627626625624622621620618617616615613612611610608607606604603602600599598596595594592591590588587586584583581580579577576574573572570569567566565563562560559557556554553551550548547545544542541539538536535533532530529527525524522521519517516514513511509508506504503501500498496495493491489488486484483481479478476474472471469467465463462460458456455453451449447445444442440438436434432431429427425423421419417415413411409407405403401400398396394391389387385383381379377375373371369367365363360358356354352350348345343341339337335332330328326323321319317314312310307305303301298296294291289287284282279277275272270267265262260258255253250248245243240238235232230227225222220217214212209207204201199196193191188185183180177174172169166163161158155152Mortage payment998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998998Paid principal364366367368369370372373374375377378379380382383384385387388389391392393395396397399400401403404405407408409411412413415416418419420422423425426427429430432433435436437439440442443445446448449451452454455457458460461463464466468469471472474475477479480482483485487488490491493495496498500501503505506508510512513515517518520522524525527529531532534536538539541543545547549550552554556558560561563565567569571573575577579580582584586588590592594596598600602604606608610612614616618620622625627629631633635637639641644646648650652654657659661663665668670672674676679681683686688690692695697699702704706709711713716718721723725728730733735738740743745748750753755758760763765768770773775778781783786788791794796799802804807810812815818821823826829832834837840843845Insurance payment1717171717171717171717171717171717171717181818181818181818181818181818181818181818181919191919191919191919191919191919191919192020202020202020202020202020202020202020212121212121212121212121212121212121212222222222222222222222222222222222222223232323232323232323232323232323232424242424242424242424242424242424252525252525252525252525252525252626262626262626262626262626262727272727272727272727272727272828282828282828282828282828292929292929292929292929292930303030303030303030303030303131313131313131313131Housing association dues0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0Maintenance5050505051515151515151515252525252525252535353535353535354545454545454555555555555555656565656565657575757575757585858585858585959595959595960606060606060616161616161626262626262626363636363636464646464646565656565656566666666666667676767676768686868686869696969697070707070707171717171717272727272737373737373747474747475757575757576767676767777777777787878787879797979798080808080818181818182828282828383838383848484848485858585868686868687878787878888888889898989899090909091919191919292929293939393949494Property tax0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0Income tax savings from interest deduction0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0Total cash outflow in buying scenario1,0641,0641,0651,0651,0651,0651,0651,0651,0661,0661,0661,0661,0661,0661,0671,0671,0671,0671,0671,0681,0681,0681,0681,0681,0681,0691,0691,0691,0691,0691,0691,0701,0701,0701,0701,0701,0711,0711,0711,0711,0711,0711,0721,0721,0721,0721,0721,0731,0731,0731,0731,0731,0741,0741,0741,0741,0741,0741,0751,0751,0751,0751,0751,0761,0761,0761,0761,0761,0771,0771,0771,0771,0771,0781,0781,0781,0781,0781,0791,0791,0791,0791,0791,0801,0801,0801,0801,0801,0811,0811,0811,0811,0821,0821,0821,0821,0821,0831,0831,0831,0831,0831,0841,0841,0841,0841,0841,0851,0851,0851,0851,0861,0861,0861,0861,0861,0871,0871,0871,0871,0881,0881,0881,0881,0881,0891,0891,0891,0891,0901,0901,0901,0901,0911,0911,0911,0911,0911,0921,0921,0921,0921,0931,0931,0931,0931,0941,0941,0941,0941,0951,0951,0951,0951,0961,0961,0961,0961,0971,0971,0971,0971,0981,0981,0981,0981,0991,0991,0991,0991,1001,1001,1001,1001,1011,1011,1011,1011,1021,1021,1021,1021,1031,1031,1031,1031,1041,1041,1041,1041,1051,1051,1051,1061,1061,1061,1061,1071,1071,1071,1071,1081,1081,1081,1091,1091,1091,1091,1101,1101,1101,1111,1111,1111,1111,1121,1121,1121,1131,1131,1131,1131,1141,1141,1141,1151,1151,1151,1151,1161,1161,1161,1171,1171,1171,1181,1181,1181,1181,1191,1191,1191,1201,1201,1201,1211,1211,1211,1211,1221,1221,1221,1231,123Renting ScenarioCashflow that could be spent on home-purchase/expesnes1,0641,0641,0651,0651,0651,0651,0651,0651,0661,0661,0661,0661,0661,0661,0671,0671,0671,0671,0671,0681,0681,0681,0681,0681,0681,0691,0691,0691,0691,0691,0691,0701,0701,0701,0701,0701,0711,0711,0711,0711,0711,0711,0721,0721,0721,0721,0721,0731,0731,0731,0731,0731,0741,0741,0741,0741,0741,0741,0751,0751,0751,0751,0751,0761,0761,0761,0761,0761,0771,0771,0771,0771,0771,0781,0781,0781,0781,0781,0791,0791,0791,0791,0791,0801,0801,0801,0801,0801,0811,0811,0811,0811,0821,0821,0821,0821,0821,0831,0831,0831,0831,0831,0841,0841,0841,0841,0841,0851,0851,0851,0851,0861,0861,0861,0861,0861,0871,0871,0871,0871,0881,0881,0881,0881,0881,0891,0891,0891,0891,0901,0901,0901,0901,0911,0911,0911,0911,0911,0921,0921,0921,0921,0931,0931,0931,0931,0941,0941,0941,0941,0951,0951,0951,0951,0961,0961,0961,0961,0971,0971,0971,0971,0981,0981,0981,0981,0991,0991,0991,0991,1001,1001,1001,1001,1011,1011,1011,1011,1021,1021,1021,1021,1031,1031,1031,1031,1041,1041,1041,1041,1051,1051,1051,1061,1061,1061,1061,1071,1071,1071,1071,1081,1081,1081,1091,1091,1091,1091,1101,1101,1101,1111,1111,1111,1111,1121,1121,1121,1131,1131,1131,1131,1141,1141,1141,1151,1151,1151,1151,1161,1161,1161,1171,1171,1171,1181,1181,1181,1181,1191,1191,1191,1201,1201,1201,1211,1211,1211,1211,1221,1221,1221,1231,123Rent1,2001,2021,2041,2061,2081,2101,2121,2141,2161,2181,2201,2221,2241,2261,2281,2301,2321,2341,2371,2391,2411,2431,2451,2471,2491,2511,2531,2551,2571,2591,2611,2641,2661,2681,2701,2721,2741,2761,2781,2811,2831,2851,2871,2891,2911,2931,2961,2981,3001,3021,3041,3061,3091,3111,3131,3151,3171,3191,3221,3241,3261,3281,3311,3331,3351,3371,3391,3421,3441,3461,3481,3511,3531,3551,3571,3601,3621,3641,3661,3691,3711,3731,3761,3781,3801,3821,3851,3871,3891,3921,3941,3961,3991,4011,4031,4061,4081,4101,4131,4151,4171,4201,4221,4251,4271,4291,4321,4341,4361,4391,4411,4441,4461,4481,4511,4531,4561,4581,4611,4631,4651,4681,4701,4731,4751,4781,4801,4831,4851,4881,4901,4931,4951,4981,5001,5031,5051,5081,5101,5131,5151,5181,5201,5231,5251,5281,5301,5331,5351,5381,5411,5431,5461,5481,5511,5531,5561,5591,5611,5641,5661,5691,5721,5741,5771,5791,5821,5851,5871,5901,5931,5951,5981,6011,6031,6061,6091,6111,6141,6171,6191,6221,6251,6281,6301,6331,6361,6381,6411,6441,6471,6491,6521,6551,6581,6601,6631,6661,6691,6711,6741,6771,6801,6831,6851,6881,6911,6941,6971,7001,7021,7051,7081,7111,7141,7171,7191,7221,7251,7281,7311,7341,7371,7401,7431,7451,7481,7511,7541,7571,7601,7631,7661,7691,7721,7751,7781,7811,7841,7871,7901,7931,7961,7991,8021,8051,8081,8111,8141,8171,8201,8231,8261,8291,832Savings when renting40,00040,06240,12340,18240,24040,29640,35140,40440,45540,50540,55340,60040,64440,68840,72940,76940,80840,84440,87940,91240,94440,97341,00141,02841,05241,07541,09641,11541,13241,14741,16141,17341,18241,19041,19641,20141,20341,20341,20141,19841,19241,18541,17541,16441,15041,13541,11741,09741,07541,05241,02640,99740,96740,93540,90040,86440,82540,78440,74140,69540,64740,59740,54540,49040,43440,37440,31340,24940,18340,11440,04339,97039,89439,81639,73539,65239,56639,47839,38839,29539,19939,10139,00038,89638,79038,68238,57038,45638,34038,22038,09837,97437,84637,71637,58337,44737,30837,16737,02236,87536,72536,57236,41636,25736,09635,93135,76335,59235,41935,24235,06234,87934,69334,50434,31134,11633,91733,71533,51033,30233,09032,87632,65732,43632,21131,98331,75131,51731,27831,03630,79130,54230,29030,03529,77529,51229,24628,97628,70228,42528,14427,85927,57127,27926,98326,68326,38026,07225,76125,44625,12724,80424,47724,14723,81223,47323,13022,78322,43222,07721,71821,35520,98720,61620,24019,85919,47519,08618,69318,29517,89317,48717,07616,66116,24115,81715,38814,95514,51714,07413,62713,17512,71912,25811,79111,32110,84510,3649,8799,3898,8948,3947,8887,3786,8636,3435,8185,2874,7514,2113,6653,1132,5571,9951,428855277(306)(895)(1,489)(2,089)(2,695)(3,306)(3,922)(4,544)(5,172)(5,806)(6,446)(7,091)(7,742)(8,399)(9,061)(9,730)(10,405)(11,085)(11,772)(12,465)(13,163)(13,868)(14,579)(15,296)(16,020)(16,750)(17,486)(18,228)(18,977)(19,732)(20,493)(21,261)(22,036)(22,817)(23,604)(24,399)(25,200)(26,007)(26,822)(27,643)(28,471)(29,306)(30,147)(30,996)(31,851)(32,714)(33,584)(34,460)Home value after 10 years310,351Debt after 10 years136,358Home Equity after 10 years173,993Transaction costs of selling in year 1018,621Net cash if home sold in 10 years (assuming no capital gains)155,372Savings after 10 years if renting33,090Present value benefit of owning vs. renting for 10 years90,989

Sheet2

Sheet3