Rent Vs Buy Calculator – Steve Novak Real Estate

Renting Cost

CALCULATING…

Buying Cost

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Purchase Price

Down Payment (%)

Mortgage Rate (%) Annual interest rate

Loan Term

Property Tax Rate (%) MA avg ~1.2%

Home Insurance (Annual)

Maintenance (%) % of price per year

Closing Costs (%) % of purchase price

Selling Costs (%) When you sell

Home Appreciation (%) Annual increase

Years to Stay How long you plan to own

House Hacking Income Monthly rental income

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Monthly Rent

Annual Rent Increase (%) Typical 3-5%

Renter Insurance (Annual)

Investment Return (%) On down payment savings

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Renting

Total cost over period

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Buying

Net cost after equity

📱 View on desktop for interactive charts.

This calculator provides estimates only and does not account for all factors. Consider:

Tax benefits of homeownership (mortgage interest deduction, property tax deduction)
Opportunity cost of down payment and closing costs
Lifestyle flexibility of renting vs. stability of owning
Local market conditions and future appreciation uncertainty
PMI if down payment is less than 20%

Rent vs. Buy Calculator