SBGREI Launches iRenter to Help Renters Evaluate Home Buying Costs

May 15, 2011 - PRLog -- Milpitas, CA.

SBGREI (SBG Real Estate Inc.) launches another real estate related iPhone app, iRenter, for renters to evaluate the buy v. rent decision. iRenter is the most comprehensive Buy-v-Rent analysis iPhone app on the App Store. The app helps users quantify the value of buying versus renting for a specific holding period by taking into account the major costs involved in renting and buying. In terms of renting costs, they include rent payments, rent increases, and renter's insurance. For owning costs, they including costs of buying, costs of ownership, and costs of selling. Costs of ownership are recurring costs, which include property taxes, insurance, mortgage payments, mortgage insurance and HOA fees.

In both  cases, opportunity costs are estimated. Moreover, tax savings are taking into account in the case of ownership. Finally, the analysis also takes into account inflation rate, appreciation rate, rent increase, capital gain, home sale gain exclusion, marginal tax rate, return on investment, and holding period. Based on these variables, iRenter provides estimates of the total accumulated costs of buying and renting.

With real estate values dropping dramatically across the country, there are more cities where renting is cheaper than buying.  According to Trulia, it is cheaper to buy than rent in many large cities as well, including Miami, Las Vegas, Sacramento, San Antonio, and Fresno. On the other hand, there are large cities where it is still cheaper to rent than buy, including San Francisco, New York, and Seatle.

iRenter will be a great tool to help renters to evaluate the buying option from a monetary perspective. It is easy to use with intuitive user interface, and it comes with a mortgage calculator.

Features
1.Total accumulated costs
2.Costs summary breakdowns
3.Recurring costs
4.Non-recurring costs
5.Opportunity costs on all expenses
6.Loan calculator for borrower (home, auto, credit card loans)
7.Ease of use – large number keypad
8.Ease of navigation – never have to scroll to input numbers
9.Intuitive & user-friendly user interface
10.Amortization schedule

http://www.sbg81.com

http://itunes.apple.com/us/app/irenter-buy-v-rent/id43518...

About Us

SBG Real Estate (www.sbg81.com) is a real estate software company that develops mobile applications for the iOS platform. Our other iPhone apps include iQualify, iQualify Pro, iRenter, and iAPR.

Visit us on Twitter: http://www.twitter.com/sbgrealestate

Contact Us

If you'd like more information about this topic, please contact us at info@sbg81.com. You can also write to us at 45 S. Park Victoria Dr., Suite 333, Milpitas, CA 95035

# # #

SBG Real Estate (www.sbg81.com) is a real estate software company that develops mobile applications for the iOS platform. Our apps include iQualify Pro, iAPR, iQualify, iBorrower, and iRenter.