Rent vs. Buy

There are several advantages in owning your own property than renting. There is tax advantages, you will have the ability to renovate and remodel your own property and above all, while your mortgage balance decreases over the years, your equity builds even if the value of your home does not increase. You can use the calculator below to determine whether it is financially beneficial to rent or to own a home.

Current Rent:
Purchase Price of Home:
Percentage of Down Payment:
Length of Loan Term (years):
Interest Rate:
Years You Plan to Stay in This Home:
Yearly Property Tax Rate:
Yearly Home Value Increase Rate:
Results:   Rent Buy Price of Home After Appreciation:    Remaining Balance After Years:    Equity Earned:    Tax Savings (at 28%):    Avg. Monthly Payment Over Time:  Total Payment:  Total Savings On: