Rent or Own Calculator

To decide whether it makes more sense for you to rent or buy a home, you need to consider:

What are your lifestyle and priorities?
Are you ready to take on the responsibilities of home ownership?
Do you plan to live in one place for at least several years?
Is your credit good?
Can you afford a down payment?

Use our Rent or Buy calculator to compare the cost of renting with the cost of owning a home. You can also compare the anticipated rent increase to the likely increase in the value of a home. You can use it as often as you wish, using different scenarios.


Enter Your Information:
What are you currently paying in rent each month?	$
How much is your rent increasing each year? (1-5%)	%
How much would your desired home cost?	$
How much down payment can you afford?	%
How much will your new home appreciate annually? (1-10%)	%

Results:
Over five years you would pay $ in rent.
Over five years you would pay $ in house payments.
But your home would go up in value by $.
And you would have a tax deduction of $
And pay off $ of the loan, which is equity in the home.

Net Result: By buying this home you will save on average $ per month and in total $ over 5 years.

Please note that this calculator is only provided to simulate the difference between renting and buying and is for educational purposes only. Calcutor results are not binding and in no way constitute an offer to extend credit.