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Should I buy or rent?
For many, home ownership is not only a great source of pride, but can mean significant tax savings and even a reduction in monthly payments depending on your interest rate and home loan specifications. With owning a home comes the long term investment based on the building of equity as you make mortgage payments and the value of your home increases.
Is home ownership the right path for you? Use our calculator to analyze the total cost to rent versus the total cost to own for a specific period of time. This calculator's final result shows the amount of equity you could build with the purchase of a new home over time. The benefits of buying versus renting can be seen by comparing the Home Purchase Benefit to your Total Rent Savings.
Note: Not all calculated values are displayed; home appreciation and rent increases may vary by area. Equity appreciation is the difference between your loan proceeds and loan balance minus your initial down payment.
Rental Information
Monthly Rent
Monthly Renter's Insurance
Annual Rent Increase (%)
Property Information
Property Value ($)
Monthly Mortgage Insurance PMI
Monthly Taxes
Monthly Hazard Insurance
Monthly Homeowners Assoc Dues
Monthly Maintenance
Home Value Appreciation (%)
Loan Information
Zip Code
Loan Amount ($)
Interest Rate
Loan Term (Years)
Loan Points
Loan Costs
Years Before Sale
Selling Costs (%)
Savings Rate (%)
Tax Rate (%)
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Head of Household
Filing Status
The results displayed above are only estimates and cannot be used to determine actual loan costs or be used as a guarantee. Please consult your tax advisor for information on the deductibility of interest for tax purposes. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.
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530-271-5500
113 Presley Way, Suite 10
Grass Valley CA 95945
California Real Estate Broker 1851459
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Call
530-271-5500
113 Presley Way, Suite 10
Grass Valley CA 95945
California Real Estate Broker 1851459
Privacy
|
Terms