Rent vs Buy Calculator
Calculate whether it’s better to rent or buy a home. Compare long-term costs, equity building, and financial implications based on your location and financial situation.
Step 1: Buying Details
Understanding Home Buying Costs
In addition to mortgage payments, homeownership includes property taxes, insurance, maintenance (1-2% of home value annually), and potential HOA fees. Consider all costs when comparing to renting.
Step 2: Renting Details
About Rent vs Buy
Renting offers flexibility and lower upfront costs. Buying builds equity and provides stability but includes maintenance and property taxes. Consider how long you plan to stay in the home.
Rent vs Buy Analysis
Buying is Better
Based on your inputs, buying a home is the better financial decision over 10 years.
Total 10-Year Cost Difference
Detailed Rent vs Buy Comparison
| Year | Rent Cost | Buy Cost | Home Equity | Net Difference |
|---|
Buying Cost Breakdown (First Year)
Key Considerations
When to Rent vs Buy
Rent if: You plan to move within 3-5 years, want flexibility, or live in a high-price market. Buy if: You’ll stay 5+ years, want to build equity, or live in an affordable market with stable prices.
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