Real Estate Glossary

What is Estimated Total Savings?

When renting a property, tenants may be able to save money in certain areas, such as by not having to pay property taxes or maintenance costs. The estimated total savings is an estimate of the amount of money that a tenant can expect to save by renting a property instead of buying. This estimate can be based on factors such as the differences in mortgage interest payments, property taxes, and maintenance costs between renting and owning. Knowing the estimated total savings can help tenants understand the true cost of renting, and make an informed decision about whether or not to proceed with the rental.