🏠 Rent vs Buy Calculator
Compare the costs of renting versus buying a home to make informed housing decisions
Basic Information
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1 year
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Advanced Options
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Results
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Recommendation
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Break-even Point
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Cost Difference
Renting Costs
Total Rent:
$0
Renter's Insurance:
$0
Total Cost:
$0
Buying Costs
Down Payment:
$0
Closing Costs:
$0
Total Mortgage:
$0
Property Taxes:
$0
Insurance & Maintenance:
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Home Equity:
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Net Cost:
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Frequently Asked Questions
Consider your financial situation, how long you plan to stay, local market conditions, maintenance responsibilities, and lifestyle preferences. Our calculator focuses on the financial aspects to help you make an informed decision.
The calculator provides estimates based on your inputs and standard assumptions. Actual costs may vary due to market changes, unexpected expenses, or personal circumstances. Use it as a starting point for your decision-making process.
The break-even point is when the total cost of buying equals the total cost of renting. After this point, buying typically becomes more cost-effective. This varies based on home prices, rent costs, and how long you stay.
Yes, opportunity cost is important. When you buy a home, you tie up money in a down payment and closing costs that could otherwise be invested. Our calculator factors in potential investment returns on this money.
Homeowners may deduct mortgage interest and property taxes, which can reduce the effective cost of ownership. However, with higher standard deductions, not everyone benefits from itemizing. Our calculator considers these tax implications.
Real estate markets can be unpredictable. Our calculator uses your estimated appreciation and rent increase rates, but actual changes may differ. Consider running multiple scenarios with different assumptions.
A larger down payment reduces your monthly mortgage payment and eliminates PMI, but it also means more money tied up in the home. Our calculator helps you see how different down payment amounts affect the overall comparison.
Beyond mortgage payments, consider property taxes, homeowners insurance, maintenance and repairs, HOA fees, and utilities. Our calculator includes estimates for these costs, but actual amounts may vary by location and property type.
⚠️ Disclaimer
This calculator is for informational purposes only and does not constitute financial advice. Actual costs may vary based on market conditions, personal circumstances, and other factors. Please consult with a qualified financial advisor or real estate professional before making important housing decisions.