Rent vs Buy Calculator

Make an informed decision about whether renting or buying makes more financial sense for your situation. Compare the long-term costs and wealth-building potential of each option.

Your Scenario

Renting

$2,000
3.0%

Buying

$400,000
20%
7.00%
1.20%
$1,200
$0
3.5%
7 years

Renting

Total Cost

$183,899

Equity Built

$0

Buying

Net Cost

$83,593

Equity Built

$217,240

Buying is Better

Over 7 years, buying saves you approximately 100,306 dollars and builds 217,240 in equity.

Breakeven Point: ~15 years

Wealth Comparison

Rent Paid$183,899
Home Equity Built$217,240
Future Home Value$508,912

Estimated Monthly Payment

$2,629

Key Factors to Consider

Understanding what influences the rent vs buy decision.

Buying Favored When

  • You plan to stay 5+ years
  • Home prices are appreciating
  • Interest rates are favorable
  • Rent prices are high or rising

Renting Favored When

  • You need flexibility to relocate
  • You're staying less than 3 years
  • Home prices are declining
  • You prefer minimal maintenance

Beyond the Numbers

  • Lifestyle and personal goals
  • Job stability and income
  • Local market conditions
  • Tax benefits of homeownership

Ready to Explore Your Options?

Let's discuss your specific situation and help you make the best decision for your future.

Talk with Us