Renting Vs Buying Calculator
Renting Vs Buying Calculator*
Use the calculator below to compare the advantages and disadvantages of owning vs. renting a home.
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Total Savings On:
Buying: $62,999.41
| Result Returned | Rent | Buy |
|---|---|---|
| Price of Home After Appreciation: | $516,908.55 | |
| Remaining Balance After 7 year(s): | $325,498.48 | |
| Equity Earned: | $191,410.07 | |
| Tax Savings (at 28%): | $54,684.00 | |
| Avg. Monthly Payment Over Time: | $2,144.85 | $1,394.86 |
| Total Payment: | $180,167.71 | $117,168.30 |
* Note: The calculator above uses these items in its calculations: private mortgage insurance, homeowner's insurance cost, loan closing cost, cost of selling a home, property tax, homeowner's tax saving, and rent increases. Calculator results are estimates only.