Renting Versus Buying

This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.

Rental Property	Amount
Monthly rent ($):
Monthly rental insurance ($):
Expected annual inflation rate (%):
Home Price & Downpayment	Amount
Purchase price of home ($):
Down payment amount ($):
Loan amount ($):
Home Loan Structure	Terms
Mortgage term (years):
Annual interest rate (APR %):
Property Mortgage Insurance (PMI %):
Mortgage Closing Costs	Amount
Discount points on purchase of home (%):
Origination fees (%):
Other closing costs ($):
Homeownership Expenses	Amount
Annual homeowner's insurance ($):
Monthly association dues ($):
Average monthly maintenance ($):
Annual property tax ($):
Income Taxes & Home Appreciation	Amount
State plus Federal income tax rate (%):
Interest rate you expect to earn on savings (%):
Home price annual appreciation (%):
Years you will stay at this property:
Realtor commission rate (%):

Rent or Buy Comparison	Amount
Total estimated cost of renting:
Total estimated cost of buying:
Total estimated savings:

Renting Versus Buying

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