How it works
Buying = payments + taxes/upkeep (1.5%/yr) + closing (3%) − equity after 6% selling costs. Renting = rent rising 3%/yr − what the down payment would earn invested.
Rent vs Buy Calculator
Is it cheaper to rent or buy over time?
Your details
Better choice
Buy
Net cost of buying
$114,855
Net cost of renting
$161,999
Monthly mortgage
$2,022.62