Free Tool
Rent vs. Buy Calculator
Compare the true cost of renting versus buying over time. See which option saves you more money with real numbers.
Renting
Buying
Auto-filled from today's rates
Over 7 Years
Buying saves you
$28,500
Buying is the better financial decision over this period, factoring in equity, appreciation, and all costs.
Total Cost of Renting
$229,874
Cumulative rent over 7 years with 3% annual increases
Net Cost of Buying
$201,374
Total costs minus appreciation over 7 years
Wealth Building After 7 Years
Home Value
$614,937
Total Equity
$206,393
Appreciation Gain
$114,937
Principal Paid
$41,456
Monthly Payment Breakdown (Buying)
$3,715/mo
Important: This calculator provides estimates only and is not a commitment to lend. Actual costs depend on specific loan terms, local tax rates, insurance quotes, and market conditions. The analysis assumes a 3% buyer closing cost and 5% selling cost at the end of the comparison period. Home appreciation and rent increases are estimates and not guaranteed. Tax benefits of homeownership (mortgage interest deduction, property tax deduction) are not included in this calculation. Contact Ryan Van Til for a personalized analysis based on your specific situation. NMLS #02336853.