Quicken and VeriPlan Comparison Home Purchase Planning
In this series of short articles, The Skilled Investor compares the functionality of the Quicken and VeriPlan financial lifecycle planners. At the bottom of this article you will find links to the previous topic and the next topic. A link is also provided that returns you to the main topic listing of this comparison.*
VeriPlan Personal Financial Real Estate Planner
VeriPlan provides a Future Home Purchase Tool for users who plan to purchase from 1 to 3 homes in the future. For future home purchases, this tool automatically takes into account: a) the planned purchase price, b) closing costs, c) settlement cash required, d) mortgage debt to be assumed, e) the lifecycle personal income and property tax implications of owning each home, and f) expected interim and subsequent price changes or appreciation. (See: VeriPlan helps you to plan financially for buying a home in the future)
Quicken Retirement Planner
The Quicken Retirement Planner provides some similar functionality, but does not automate lifecycle tax implications of home ownership. The Quicken Retirement Planner does not collect information about income taxes associated with these properties, nor does it measure the tax deductions associated with mortgage interest. It does allow you to enter property taxes, but only as a percentage of appreciated home value. Data entry requires filing in a series of dialog boxes and is more cumbersome that entering similar data into VeriPlan, which is done in tables.
<< Previous Topic* Lawrence Russell and Company is the publisher of The Skilled Investor and the developer of VeriPlan. The Skilled Investor has made an attempt to characterize factually the functionality of both the Quicken Retirement Planner and VeriPlan.