Should you buy or rent? This is a question most of us will likely face in our lives, whether buying a house makes more financial sense than renting a home. There is a way to understand the financial impact of buying vs. renting. rent vs. buy calculator can help you calculate the total cost of buying a home versus the cost of renting over time.
For buying, the total costs compare the total amount of money you would be spending over time, minus the potential value you might receive if you someday sell the property.
View the interactive graph and see what this looks like at different times, and how it compares if you were instead paying rent. From the tool, you’ll see that the amount of time you plan on keeping the home has a major impact. To get more personal, you can customize the advanced options to crunch more specific numbers and evaluate more specific scenarios. But keep in mind that a financial comparison is just one of many factors when deciding whether to rent or buy