Rent vs Buy Financial Comparison?

Determine which is more economical, renting or buying, based on your payments and accommodation information.

1. Monthly payment if you bought: $ Help

This is your "target" monthly payment of Principal and Interest plus Property Taxes. We assume at this point that you'd qualify.

Minimum: $ 200
Maximum: $10000

2. Downpayment: $ Help

Enter the actual downpayment available to you. We'll assume that, if not applied to your home purchase, it could be invested to earn 4% after tax.

Minimum: $ 2000
Maximum: $1000000

3. Annual property taxes: $ Help

Estimated annual property taxes billed by municipality.

Minimum: $ 300
Maximum: $10000

4. Interest rate: % Help

Please specify the rate you require (or expect), from the lender you choose.

Minimum: 2
Maximum: 25

5. Home value will increase annually by: Help

What is the expected average annual increase in property values that you (conservatively) believe will apply to the home you would purchase.

6. Monthly rent: $ Help

Please average your expected rent payments. If you would not have to pay any rent (living with parents, etc) please do not change the default of zero.

Minimum: $ 0
Maximum: $ 5000

7. Years of comparison: Help

The length of time you'd be prepared to wait before buying if it made sense financially.

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