Rent vs. Buy Calculator

Compare Options

Buying Details

Home Price ($)

Down Payment ($)

Interest Rate (%)

Renting Details

Monthly Rent ($)

Annual Rent Increase (%)

Additional Details

Time Horizon (years)

Comparison Analysis

Break-even Year

Year 0

Net Worth Difference

$0.00

Factors to Consider

Buying Advantages

Build equity over time
Tax deductions on mortgage interest
Property value appreciation
Fixed monthly payments

Renting Advantages

Lower upfront costs
More flexibility to move
No maintenance responsibilities
Potential to invest difference

Hidden Costs

Buying Hidden Costs

Property taxes
Home insurance
Maintenance and repairs
HOA fees
Closing costs

Renting Hidden Costs

Security deposit
Renters insurance
Annual rent increases
Moving costs
Pet rent/deposit

Making Your Decision

Consider your long-term plans
Evaluate your financial stability
Research local market conditions
Calculate total costs of ownership
Factor in lifestyle preferences
Consider investment alternatives
Evaluate tax implications