๐ก Rent or Buy? Find Your Break-Even
Buying a home is the biggest financial decision most Americans make. This calculator compares the total cost of renting vs owning โ including mortgage, taxes, insurance, maintenance, closing costs, and home appreciation.
๐ฏ What This Calculator Shows
- Break-even year โ how long until buying beats renting
- Total cost comparison โ cumulative payments over time
- Equity built โ how much of the home you actually own
- Net worth after X years โ the real financial winner
๐ Hidden Costs of Buying (Most People Miss)
Closing costs: 2โ5% of home price
Maintenance: 1% of home value per year
Property tax: 0.5โ2.5% annually
Selling costs: 6โ8% when you sell
๐ก Quick Rule of Thumb
If you plan to stay 5+ years, buying usually wins. Under 3 years, renting is typically cheaper after all costs. This calculator gives you the exact break-even.