I like this email that I sent out to a buyer the other day and thought I would share. My buyer is torn between two homes. Property A) listed at $320,000, B) at $299,000. I got the feeling that Property A) was a better fit for her, but she was leaning towards B) because of the price. I drove home after showing her these two homes and started thinking, and did some calculations…
Here is the email I sent to my buyer, explaining why in this situation, she should not decide on the home based on the list price.
After showing you those two homes, I realized that the taxes are higher in Snohomish than Everett, especially being a bigger home in Snohomish, I thought it would be worth calculating. I calculated your monthly payment including principle, interest, and taxes (and HOA dues for the one in Everett). Insurance is the only part of the payment missing, which is a little tougher to figure out.
Here’s why out of the two that you liked today, you should not decide based on price.
Snohomish home monthly payment
Purchase price: $299,000, 3.5% down
P and I: 1483
Taxes: 391
Total 1873
Silver Firs home monthly payment
Purchase price $320,000, 3.5% down
P and I: 1587
Taxes: 285
HOA dues 24
Total 1894
The two payments are almost exactly the same…
This is obviously more of a mortgage lender thing to figure out, but that was my rough calculation that I thought might be interesting! Nice seeing you today!
