Rent vs. Buy Calculator
Compare the long-term financial impact of renting versus buying a home based on your specific situation.
Compare Renting vs. Buying
Enter the details of your potential home purchase and rental options to see which makes more financial sense.
Understanding the Rent vs. Buy Decision
Factors That Favor Buying
- Long-term stability: Planning to stay in one location for 5+ years
- Building equity: Mortgage payments build ownership over time
- Tax benefits: Deduct mortgage interest and property taxes
- Appreciation potential: Benefit from home value increases
- Fixed payments: Principal & interest remain constant with fixed-rate loans
Factors That Favor Renting
- Greater flexibility to relocate for career or lifestyle changes
- No maintenance costs or surprise repair expenses
- Lower upfront costs - no down payment required
- Investment flexibility - money not tied up in home equity
- In high price-to-rent ratio markets, renting often makes financial sense
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