| 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.
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Monthly rental insurance ($): |
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Expected annual inflation rate (%): |
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Purchase price of home ($): |
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Length of mortgage term (# of years): |
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Mortgage's annual interest rate (%): |
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Discount points on purchase of home (%): |
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Mortgage Insurance (PMI %): |
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Homeowner's insurance rate (%): |
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Monthly association dues ($): |
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Average monthly maintenance ($): |
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State plus Federal income tax rate (%): |
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Interest rate you expect to earn on savings (%): |
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Expected percentage your home will appreciate by each year
(%): |
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Number of years you will stay at this property: |
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Realtor commission rate (%): |
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| Total estimated cost of renting: |
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| Total estimated cost of buying: |
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