Should I rent or buy a home?

Should I rent or buy a home?

With interest rates at a 40-year low, the decision to rent versus buy becomes difficult. Use this calculator to help determine which makes sense for you.

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%) help

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

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Assumed annual inflation rate (0% to 10%) help

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On taxes, do you take the standard deduction?

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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