Should I rent or buy a home?

With interest rates near forty year lows, the decision to rent versus buy becomes difficult. Use this calculator to help determine which makes sense for you at this time.

Rent Assumptions

Monthly rent payment ($)

Additional monthly fees ($)

Monthly renter's insurance premium ($)

Annual rent increases (0% to 10%)

Purchase Assumptions

Purchase price of home ($)

Annual appreciation rate (0% to 10%)

Realtor fees on future sale (0% to 100%)

Amount of loan ($)

Annual interest rate (0% to 40%)

Number of years (1 to 40)

Closing costs (not included in loan amount) ($)

Annual homeowner's insurance premium ($)

Annual property taxes ($)

Annual maintenance cost ($)

Other Assumptions

Number of years for the comparison (1 to 30)

Marginal tax bracket (0% to 75%)

Before tax return on savings (-12% to 12%)

Assumed annual inflation rate (0% to 10%)

On taxes, do you take the standard deduction?No, I itemizeYes

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