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Rent vs Buy Calculator

Inputs

Total purchase price of the home

Percentage of home price paid upfront

Annual interest rate for the mortgage

Number of years for the mortgage

Percentage of home value paid annually in property taxes

Percentage of home value for repairs and maintenance

Yearly cost for homeowners insurance

Current monthly rent payment

Expected yearly increase in rent

Yearly cost for renter's insurance

Expected yearly increase in home value

Number of years to compare

Results

Total Renting Cost
Total Buying Cost
Home Equity Built
Home Value After Period
Net Cost of Buying
Total buying cost minus home equity gain
Financial Advantage
Positive = buying wins, Negative = renting wins
Formula
Net Cost Buy = Total Buy Cost - Home Equity | Financial Advantage = Total Rent Cost - Net Cost Buy
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