Buy or Rent Calculator with AI Assistant
Deciding whether to buy a home or rent is one of the biggest financial choices you'll make. It's not just about comparing a mortgage payment to a rent check; it's about understanding the long-term implications of appreciation, equity, maintenance costs, and investment opportunities. This calculator is designed to go beyond the surface-level numbers, providing you with a comprehensive, side-by-side comparison to help you make an informed and confident decision that aligns with your financial goals.
Confused about the inputs? Check out our detailed guide to understand what each field means.
Understanding Your Results
The chart and tables above illustrate the potential long-term financial outcomes of buying versus renting. Homeowner's Equity represents the value of your home minus the outstanding mortgage balance, a key component of wealth building. Renter's Investment shows how much your money could have grown if, instead of buying a home, you rented and invested the difference in costs (like a down payment and lower monthly expenses) in the stock market.
There is no single "right" answer. The better choice depends on your time horizon, local market conditions, and personal financial discipline. Use these results as a guide, and consider adjusting the assumptions to see how different scenarios could play out.