Rent vs Buy Calculator
Compare the total cost of renting versus buying a home over your expected time horizon.
Buying Costs
Typically 1% of home value
Renting Costs
Other Factors
Return if you invested the down payment instead
Recommendation
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Total Cost of Buying
$0
Total Cost of Renting
$0
Difference
$0
Buying Breakdown
Monthly Mortgage Payment
$0
Total Mortgage Payments
$0
Total Property Tax
$0
Total Insurance
$0
Total Maintenance
$0
Home Value After
$0
Equity Built
$0
Renting Breakdown
Total Rent Paid
$0
Total Renters Insurance
$0
Investment Growth
$0
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How to Decide: Rent or Buy?
The rent vs buy decision depends on many factors including how long you plan to stay, local market conditions, and your financial situation.
Key Factors Favoring Buying:
- You plan to stay 5+ years in the same location
- Home prices are appreciating in your area
- Mortgage rates are favorable
- You want to build equity
Key Factors Favoring Renting:
- You may move within a few years
- Home prices are inflated relative to rents
- You prefer flexibility and lower responsibility
- You can invest the down payment for higher returns