KLOORARent vs Buy Calculator
Compare the cost of renting with buying a home over a number of years, including appreciation and selling costs.
How to use Rent vs Buy Calculator
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Buying: down payment, closing costs, mortgage payments, tax, insurance and upkeep, minus the cash left after selling (value less 6 percent selling costs less loan balance). Renting: rent with yearly increases.
Worked example
Over 7 years, a 400,000 home with 10 percent down can cost less than renting at 2,400 if prices rise 3 percent a year. Over 2 years renting usually wins.
Good to know
This ignores investment returns on the down payment and the tax deduction for mortgage interest.
Frequently asked questions
How is it calculated?
Buying costs include mortgage interest, property tax, insurance, upkeep and selling costs, minus the equity you build and home appreciation. Renting costs include rent and rent increases.
What is the break even?
The year buying becomes cheaper than renting, if any.
Is the Rent vs Buy Calculator free?
Yes. It is free, needs no signup and works on any device.