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In Jan 2 0 1 9 , Missy Grant moved to Uptown Dallas for a new job in a commercial real estate investment firm. There,

In Jan 2019, Missy Grant moved to Uptown Dallas for a new job in a commercial real estate investment firm. There, she rented a spacious, two-bedroom condominium for $2,000 per month, which included parking but not utilities or cable television. She anticipates no increase in rent for a foreseeable future. In July 2019, the virtually identical unit next door became available for sale with an asking price of $620,000, and Grant believed she could purchase it for $600,000. The home price is expected to increase to $700000 in 5 years and the brokerage commission is expected to be 3%. The mortgage terms are 30-year monthly 8.25% interest rate.
She intends to stay in the DFW metroplex for 5 years. She realized she was facing the classic buy-versus-rent decision.
If Grant purchased the new condominium, she would pay monthly condo fees of $1,055 per month, plus property taxes of $300 per month on the unit. Unlike when renting, she would also be responsible for repairs and general maintenance, which she estimated would average $600 per year. If she decided to purchase the new unit, Grant intended to provide a cash down payment of 20 percent of the purchase price.
Assuming there is no initial rental deposit to be paid if she rents and her discount rate is 3.5%, what is the approximate value of BUY?
Approximate to nearest 25000s.

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