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Debra AllenREALTOR® · Garland + DFW
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Planning tool

Rent vs. buy calculator

Compare simplified renting and homeownership costs over time.

Compare simplified housing cost

See a basic rent-versus-own cash comparison over time. This estimate does not subtract resale proceeds, tax effects, or equity.

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Simplified 7-year cash outflow

Rent$151,200
Ownership$239,817
Estimated down payment$15,000
Estimated monthly mortgage only$1,801
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Your numbers aren't saved or sent anywhere. Want a second opinion? Note your result and bring it to a consultation with Debra.

Ownership includes down payment, principal-and-interest payments, and the annual ownership-cost rate over the comparison period. It does not subtract equity, resale proceeds, rent increases, tax benefits, utilities, HOA changes, or repair surprises.

The short answer

Is it better to rent or buy?

It depends on how long you stay, what you pay now, and what owning would really cost. This calculator compares cash out of pocket over the years you choose: rent on one side; on the other, the down payment, principal and interest on a 30-year loan, and a yearly allowance for taxes, insurance and maintenance. It is a cash comparison, not a wealth comparison — it does not count equity, appreciation or the cost of selling.

What this estimate includes

  • Monthly rent for every month of the comparison.
  • The down payment.
  • Principal and interest on a 30-year loan at the rate you enter.
  • Taxes, insurance and maintenance, as a yearly percentage of the price.

What it leaves out

  • Equity you build, and any change in the home's value.
  • The cost of selling later.
  • Rent increases.
  • Tax effects, and what the down payment might earn if you kept it.
  • Your actual interest rate, which only a lender can quote.

Common questions

What people ask next

Why doesn't the calculator count home equity?

Because equity depends on what the home is worth when you sell, which nobody can promise. Leaving it out keeps the comparison honest about cash. Debra can talk through how equity fits your plans, and a financial professional can model it for your situation.

How long do I need to stay for buying to make sense?

There is no fixed number. Buying has upfront costs that renting does not, so the longer you stay, the more time those costs have to spread out. Try the comparison at a few different lengths to see how the gap changes.

What should go into the ownership cost rate?

Property taxes, homeowners insurance and an allowance for maintenance and repairs, as a yearly percentage of the price. The starting value is a placeholder to replace with figures for a real home, not a local average.

Keep planning

Where this number fits

Rates, approval and the final figures come from a lender. Debra can help you read an estimate in context and know which questions to bring them.

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