At some point in life, everybody tries to decide if buying is better than renting a home. What would be more expensive initially? What would save more money in the long term? These questions are not easy. This is why the New York Times has put together a tool that can help you decide.
Just enter specific details of your situation such as the monthly rent, home price, down payment, mortgage rate and property taxes. You can also specify the annual home price change and annual percentage change in rent to get a more accurate answer.
Changing a single factor can significantly change the results. The tool also has some advanced settings that you change for a special situation.
- See if buying is better than renting.
- See exactly when would it be best to buy.
- Enter details like rent, home price, etc.
- View results on an easy-to-read graph.
- See information about various buying and renting costs.
- Read the methodology behind the calculations.
- No registration required.
Visit BuyVsRent @ http://www.nytimes.com/interactive/business/buy-rent-calculator.html