Rent vs. Buy

There are several advantages in owning your own property than renting. There are 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,using your assumptions.

Current Rent:		Note: The numbers in the boxes now are default values. Since nobody knows for certain how much houses will appreciate in your area in the future, it is impossible to be absolutely certain whether renting or buying will be advantageous for you.
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: