This calculator helps you decide whether it's better to buy or rent a home, based on your net investment gain. Fill out the information on the Buying a home and Renting tabs, then click Calculate to get your results.
Location of Home:
Price of home:
Original amortization period
Type of home:
Yearly property taxes:
Costs of buying a home:
Costs of selling a home:
Average yearly change in home value:
Yearly home maintenance cost/condo fees:
Yearly cost of home insurance:
Yearly cost of mortgage default insurance:
Monthly rent payment:
Yearly rent increase:
Monthly cost of renter's insurance:
Invest the buy-rent difference?
Yearly expected investment return:
Based on your information, buying is better than renting after 8 years.
Select a year on the graph to see specific buying/renting details for that year.
Is home ownership for you?
At end of year
The graph illustrates the difference between buying and renting over a thirty year term. Whichever option yields a larger net investment gain is your best result.
This chart shows the cumulative total buying and renting expenses for a given year, and the cumulative difference in net investment gain between buying and renting. If this number is negative, renting is better. If positive, buying is better.