Rent Vs Buy


This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.

 

Help Buttons: For pop-up explanations of any of the entry fields, click the radio button next to the description.

Note: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields (dollar signs and other non-numeric characters will cause a JavaScript error).

 

 

 

 

 

 

 

 

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TAX
  Tax Estimator

BORROWING
  Loan Amortization
  Loan Comparison
  Missing Loan Term
  Debt  Consolidation

INVESTMENT
  Portfolio Mix
  Compounding Interval
  Single Future Value
  Periodic Future Value
  Savings Time
  Savings Goal
  Lump Sum Savings
  Retirement Savings
  IRA Distributions
  College Funding

MORTGAGE
  Mortgage Qualification
  Bi-Weekly Mortgage
  Mortgage Refinancing
  Payoff Goal
  Rent vs. Buy

BUDGETING
  Net Worth
  Cash Flow
  Expense Percentage
  Wage Conversion
  Irregular Payments
  Credit Card Payment
  Debt Investment
  Average Interest Rate
  Real Hourly Wage
  Lifetime Earnings
  Generic Savings
  Car Cost Comparison
  Transportation Savings

 

Monthly rent:

 

$

 

Monthly rental insurance:$
Expected annual inflation rate: %  
Purchase price of home:$
Down payment amount:$
Length of mortgage term (years):#
Mortgage's annual interest rate: %  
Discount points on purchase of home: %  
Origination fees: %  
Other loan costs:$
Mortgage Insurance (PMI): %  
Homeowner's insurance rate: %  
Monthly association dues:$
Average monthly  maintenance:$
Annual property tax:$
State plus Federal income tax rate: %  
Interest rate you expect to earn on savings: %  
Expected percentage your home will
         appreciate by each year:
 %  
Number of years you will stay at this
         property:
#
Realtor commission rate: %  
 

 

Total estimated cost of renting:$
Total estimated cost of buying:$
 

 

 

Copyright 1998-2001 Daniel C. Peterson, All Rights Reserved