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| Rent Vs Own Calculator |
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Should you buy a home or continue renting? Our Rent vs. Own Calculator will
analyze your situation and give you some guidance. |
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| Buying Analysis |
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| Based on the information provided for a 5 year period |
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| You will pay a monthly PI (Principal and Interest) payment of: |
$ |
880.52 |
| You will gain a tax advantage of: |
$ |
13,136.17 |
| You will gain an equity appreciation of: |
$ |
36,855.28 |
| Totaling a net value gain of: |
$ |
49,991.44 |
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Selling the home in 5 years will incur closing costs of: |
$ |
4,977.50 |
| Giving you a total net benefit of ownership of: |
$ |
45,013.94 |
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| Rental Analysis |
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| Based on the information provided for a 5 year period |
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| If you chose to buy you would have paid home buying expenses of: |
$ |
880.52 |
| You will gain a tax advantage of: |
$ |
52,831.50 |
| You will pay rental expenses of: |
$ |
46,397.11 |
| Giving a difference of: |
$ |
6,433.94 |
Investing the average yearly difference of $
1,286.79 for 5 years
at %8 yields: |
$ |
8,152.10 |
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Selling the home in 5 years will incur closing costs of: |
$ |
4,977.50 |
| Giving you a total net benefit of ownership of: |
$ |
45,013.94 |
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| Final Analysis |
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| Because your Total Benefit of Ownership of $45,013.94 is GREATER than your investment yield of $8,152.10, it would be in your best interest to BUY this home rather than to RENT it. |
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The results shown above should be used only for informational purposes. The accuracy of
these results is not guaranteed. If you seek additional help or explanation, please
refer to your loan officer. |
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Free Information
