Rent Vs Own Calculator

Rental Information:
Monthly rental payment ($)

Monthly renter’s insurance ($)

Annual rent increase rate (%)

New Home Purchase Info:
Price of home ($)

Monthly property taxes ($)

Monthly home owner’s insurance ($)

Monthly home maintenance ($)

Annual home appreciation value (%)

New Home Loan :
Loan amount ($)

Interest rate (%)

Term (years)

Loan points ($)

Down Payment & Loan closing costs ($)
(non tax deductible items)

How Long Do You Plan To Keep Your New Home?
Expected Number of Years

Typical Selling costs (%)

Savings account rate (%)

Tax rate (%)

Rent vs Buy Analysis Summary
Based on your situation, we’ve determined that you would be better off owning a home.
You would be $39,551.73 better off owning this home than renting.
This was based on your home equity at the time of sale minus your total rent savings if you had rented over the same period of time.

Cost of Renting
Years to Rent 5 years
Total Rent and Insurance $46,397.11

Cost of Owning Your Home
Mortgage Payments $54,684.95
Taxes and Insurance $12,150.00
Maintenance $6,000.00
Tax Savings ($12,454.51)
________________________________________
Total Cost of Ownership $60,380.44

Home Sale Analysis
Monthly Mortgage Payment $911.42
House Value with Appreciation $220,399.21
Proceeds minus Costs of Sale $204,971.27
Loan Balance ($139,795.43)
Your Equity $65,175.84

Rent Vs Buy Analysis
Monthly Rent savings $388.43
The cost of home ownership minus the cost of renting as monthly cost
Total Rent Savings $25,624.10
Your monthly rent savings times the number of months you lived in the house plus the savings interest you would have earned on your down payment and closing costs

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The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided.
Copyright 2017, CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. All rights reserved.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting.

This IDX solution is (c) Diverse Solutions 2017.