Rent vs. Buy Scenario Planner

Home Purchase & Ownership

Home Purchase

Home Price ⓘThe full purchase price of the home.

$

Down Payment ⓘThe percentage of the home price you will pay upfront. 20% is common to avoid PMI.

%

Mortgage Interest Rate ⓘThe annual interest rate for your home loan.

%

Loan Term ⓘThe length of your mortgage in years. Common terms are 15 or 30.

Years

Monthly Buying Costs

HOA Fees ⓘMonthly Homeowners Association fees, if applicable.

$/ month

Utilities ⓘEstimated monthly cost for electricity, water, gas, internet, etc., when owning.

$/ month

PMI ⓘPrivate Mortgage Insurance, typically required if your down payment is less than 20%. This will be auto-set to 0 if down payment is 20% or more.

$/ month

Annual Ownership Costs

Property Tax Rate ⓘAnnual property tax as a percentage of the home's current value. (e.g., 1.2%)

%

Home Insurance ⓘEstimated total cost for one year of homeowner's insurance.

$/ year

Maintenance/Repairs ⓘEstimated annual cost for upkeep. 1% of the initial home price is a common estimate.

% of home price / year

Taxes & Projections

Home Appreciation Rate ⓘThe estimated annual percentage increase in the home's value. 3-4% is a common historical average.

%

Marginal Tax Rate ⓘYour combined federal and state tax rate. This is used to calculate the tax savings from mortgage interest and property tax deductions.

%

One-Time Costs

Buying Closing Costs ⓘUpfront fees for buying the home (e.g., inspections, title insurance). Typically 2-5% of the home price.

% of home price

Selling Closing Costs ⓘFees for selling the home in the future (e.g., agent commissions). Typically 6-8% of the future home price.

% of future price

Renting & Financial Assumptions

Monthly Renting Costs

Monthly Rent

$

HOA / Amenity Fees

$/ month

Utilities ⓘEstimated monthly cost for utilities when renting.

$/ month

Renter's Insurance ⓘEstimated annual cost of a renter's insurance policy.

$/ year

Investment Projections

Annual Rent Increase ⓘThe estimated percentage your rent will increase each year.

%

Investment Return Rate ⓘThe average annual return you expect from your investments (e.g., stocks, bonds). 7% is a common historical average for the S&P 500.

%

General Financials & Analysis

Income & Expenses

Total Gross Monthly Income ⓘYour total combined monthly income before taxes.

$

Other Monthly Expenses (if Buying) ⓘYour estimated total non-housing expenses if you buy (food, transport, childcare, etc.). This can be different from your renting expenses.

$

Other Monthly Expenses (if Renting) ⓘYour estimated total non-housing expenses if you rent. This can be different from your buying expenses (e.g., higher due to private school costs).

$

Analysis Period

Duration of Stay ⓘThe number of years you plan to stay in the home or rental before moving. This is the time frame for the analysis.

Years

Rent vs. Buy Scenario Planner

Scenario Comparison

Home Purchase & Ownership

Home Purchase

Monthly Buying Costs

Annual Ownership Costs

Taxes & Projections

One-Time Costs

Renting & Financial Assumptions

Monthly Renting Costs

Investment Projections

General Financials & Analysis

Income & Expenses

Analysis Period