Rent vs Buy Calculator
Compare the costs of renting versus buying a home.
Total Rent Cost
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Total Buy Cost
$0.00
Result will appear here
About Rent vs Buy
Deciding whether to rent or buy a home is a major financial decision. This calculator helps you compare the total cost of renting versus buying a home over a specific period. It considers rent payments versus mortgage interest, property taxes, and maintenance costs (simplified).
Key Considerations
- Upfront Costs: Buying requires a significant down payment and closing costs, whereas renting usually only requires a security deposit.
- Flexibility: Renting offers more flexibility to move, while buying ties you to a location.
- Equity: Buying allows you to build equity (ownership) in the property, which can be a valuable asset. Rent payments do not build equity.
- Maintenance: Homeowners are responsible for all repairs and maintenance, while renters typically rely on the landlord.