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Michael Constantino, Sr.  - The Legend Group -
Michael Constantino, Sr. - The Legend Group -
The Legend Group Financial Advisor
https://www.constantinowealthsolutions.com/ (716) 691-8753

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Advisory Services offered through Lincoln Investment, or Capital Analysts, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker-Dealer, Member FINRA/SIPC

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Rent vs Buy Calculator

Should you rent or buy? Home ownership is a great way to build long-term wealth, and the interest portion of your mortgage payment may be tax deductible. However, renting may make more sense over shorter periods—and a larger standard tax deduction recently may make renting more attractive than it once was. This calculator helps you compare the total cost of renting versus buying a home over time, so you can make an informed decision that fits your situation.

Buying a Home

Enter the home price, down payment, and mortgage details.

These are example values. Update them to reflect your personal situation.

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$50,000 $10,000,000
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$0 $10,000,000
%
years

Renting

Enter your current or expected monthly rent and how much it may increase each year.

$
$500 $100,000
%

Should you rent or buy? Home ownership is a great way to build long-term wealth, and the interest portion of your mortgage payment may be tax deductible. However, renting may make more sense over shorter periods—and a larger standard tax deduction recently may make renting more attractive than it once was. This calculator helps you compare the total cost of renting versus buying a home over time, so you can make an informed decision that fits your situation.

Your Rent vs. Buy Comparison

Based on a 30-year comparison period.

Buying Costs Less

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home Buy a Home
Loan Amount
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Monthly Payment
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Total Payments (30 Years)
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Total Payments (5 Years)
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apartment Rent a Home
Starting Monthly Rent
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Final Year Monthly Rent
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Total Rent Paid (30 Years)
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Total Rent Paid (5 Years)
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Cumulative Cost Over Time

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