Rent vs Buy: Key Factors
The decision to rent or buy depends on home prices, interest rates, how long you plan to stay, and local market conditions. This calculator compares the total cost of each option including opportunity cost of your down payment.
Frequently Asked Questions
How long should I plan to stay? Buying typically becomes better after 5-7 years due to closing costs, agent fees, and the way mortgage amortization front-loads interest.
What about the tax benefits of buying? The standard deduction is now $30,000 (married), so many homeowners no longer itemize. This calculator uses a simplified model without tax deductions.