Rent vs. Buy Calculator

Use the Rent vs. Buy Calculator to decide whether buying a new home makes financial sense when comparing renting costs to buying costs. This tool may inspire you to save more for a downpayment or to invest your savings.

Renting and Buying Information

Financial Information
Available Savings for Downpayment or Investment: ? Amount saved for home downpayment or investment.	*
Annual Rate of Return (%): ? Yearly expected rate of return on savings after taxes.	*

Rent Information
Monthly Rent: ? Monthly rent.	*
Monthly Insurance: ? Monthly amount paid for renter's insurance.

Home Information
Purchase Price: ? Home price. Do not subtract downpayment.	*
Mortgate Rate: ? Yearly mortgage interest rate.	*
Mortgate Term/Amortization (Years): ? The total length of the mortgage used to calculate payment size. For example, 15, 25 or 30 years.	*
Mortgate Costs: ? Additional one-time mortgage costs.
Mortgate Income Tax Rate (%): ? Use to calculate tax deduction on mortgate payments. Set to 0 if not applicable.
Renovation Costs: ? Additional renovation cost.
Yearly Home Appreciation (%): ? Amount home to increase in value? Usually 2% to 3%	*
Yearly Insurance: ? Yearly amount for home insurance.
Yearly Property Tax: ? Yearly property taxes.
Yearly Condo/Strata Fees: ? Yearly strata or condo fees.
Yearly Maintenance: ? Yearly home maintenance costs. Usually 1% of home's value.
Other Costs (Yearly): ? Yearly additional home ownership costs.
Realtor Commission Percentage: ? Percentage for realtor's selling fee.	*
Years Before Selling: ? Years to compare renting vs. owning.	*

* - Required field.

Results Report

Purchase Summary
Monthly Mortgate Payment:	$0.00
Total Monthly Payment:	$0.00

Summary When Buying Breaks Even
Number of Years	never
Investment Size if Renting	$0.00
Amount Ahead by Renting	$0.00

Summary When Buying Passes Renting
Number of Years	never
Net Worth	$0.00

Buying Summary After x Years
Value of Home	$0.00
Equity in Home	$0.00
Tax Savings	$0.00
Net Amount After Sale	$0.00
Profit by Buying	$0.00

Renting Summary After x Years
Total Rent Paid	$0.00
Size of Investment	$0.00
Profit by Renting	$0.00

You should RENT! You will be ahead by $0.00 after 0 years.