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Should I Buy or Rent?

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Should I Buy or Rent?

This calculator computes the costs of renting versus the costs of buying a home. There are many things included in the calculation such as interest, property taxes, tax savings, appreciation, closing costs, etc. But comparing the cost of renting to the cost of buying is a lot more complicated. This calculator attempts to forecast the effects of all the hidden components so you can make an informed decision.

Rent Information:
Monthly Rent:	$
Monthly Rental Insurance:	$
Expected Annual Inflation:	%
Buy Information:
Home Purchase Price:	$
Down Payment Amount:	$
Mortgage Term:	years
Mortgage Annual Interest Rate:	%
Discount Points On Home Purchase:	%
Origination Fees:	%
Other Loan Costs:	$
Private Mortgage Insurance (PMI):	%
Homeowner's Insurance Rate:	%
Monthly Association Dues:	$
Average Monthly Maintenance:	$
Annual Property Tax:	$
State + Federal Income Tax Rate:	%
Interest Rate You Expect To Earn on Savings:	%
Expected Annual Home Appreciation Rate:	%
Number of Years You Will Stay at this Property:	years
Realtor Commission Rate:	%

NOTICE: This calculator assumes conventional financing for all calculations however the final amounts may be different depending on your circumstances. To ensure accuracy it is recommended you obtain personal advice from qualified professionals.