Rent vs. Own Results
Monthly Rent: | $ | |
Home Purchase Price: | $ | |
Down Payment: | $ | |
Mortgage Interest Rate: | % |
Should you rent or own? | Own | |
Average monthly payment savings if owning: | $ | |
Estimated total gain over 7 years if owning: | $ |
Payment Considerations | Rent | Own |
---|---|---|
Initial Rent Payment | $ | - |
Renter's Insurance | $ | - |
Mortgage Payment | - | $ |
Property Taxes | - | $ |
Homeowner's Insurance | - | $ |
Before Tax Monthly Payment | $ | $ |
Annual Home Maintenance | - | $ |
Total Payments Over 7 Years | $ | $ |
Total Tax Savings Over 7 Years | - | $ |
Average After Tax Monthly Payment | $ | $ |
Investment Considerations After 7 Years | ||
---|---|---|
Estimated Home Selling Price | $ | |
Loan Balance | $ | |
Estimated Cost to Sell | $ | |
Down Payment & Initial Closing Costs With Unearned Interest | $ | |
Investment Gain of Owning vs. Renting | $ | |
Total Payment Savings of Owning vs. Renting | $ | |
Combined Gain of Owning vs. Renting | $ |