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Shall I sell it or rent it after couple of years?

2023-02-12

Source: vignettes/example1.Rmd
example1.Rmd

Primary residency 

house_value <- 329900
repayment(house_value * (1-0.36),               
          5.9/100 / 12,     
          30 * 12) 
## [1] 1252.32
monthly_cost(house_value = house_value,
             house_assessed_value = 191380,
             mil_rate = 2.469/100,
             monthly_hoa_fee = 374, 
             monthly_home_insurance = 115, 
             monthly_utility_fee = 0, 
             closing_fee = house_value * 0.07,
             one_time_fee = 0,
             year = 5, 
             saving_rate = 0.04, 
             down_payment = 0.36,
             mortgage_rate = 5/100,
             morrgage_year = 15)
## [1] 3025.271

Primary residency -> Sell after 5 years 

monthly_cost(house_value = house_value,
             house_assessed_value = 191380,
             mil_rate = 2.469/100,
             monthly_hoa_fee = 374, 
             monthly_home_insurance = 115, 
             monthly_utility_fee = 0, 
             closing_fee = house_value * (0.07 + 0.12),   # two closing fee when buy and sell
             one_time_fee = 0,
             year = 5, 
             saving_rate = 0.04, 
             down_payment = 0.36,
             mortgage_rate = 5/100,
             morrgage_year = 15,
             annual_increase_rate = 3/100)
## [1] 2281.489

Primary residency -> Lease after 5 years 

monthly_cost(house_value = house_value,
             house_assessed_value = 191380,
             mil_rate = 2.469/100,
             monthly_hoa_fee = 374, 
             monthly_home_insurance = 115, 
             monthly_utility_fee = 0, 
             closing_fee = house_value * (0.07),
             one_time_fee = 0,
             year = 5, 
             saving_rate = 0.04, 
             down_payment = 0.36,
             mortgage_rate = 5/100,
             morrgage_year = 15,
             annual_increase_rate = 0/100)
## [1] 3025.271