Rent vs. Buy
Should you rent or buy?
You need a new place to live. What should you do? Keep renting or play the real estate market as a buyer? There are certainly pros and cons to each option. And since this is one of the most important financial decisions adults have to make, it’s a good idea to weigh these pros and cons thoroughly, applied to your unique situation. To help you answer this question, take a look at a comparison of the most important costs associated with buying vs. renting a house.
Choose house price
- Rental Amount
- Renter's Ins
- No Taxes
- No R&M
- No Appreciation
- No Tax breaks
- No HOA
- Low credit risk
If you can rent for less than $1,621
per month then renting is better.
Calculation based on a 30 year mortgage at 4.5%, with a 2% tax rate.
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