Buying versus Renting

This is a decision which many people face, and the decision is not as easy to make as it may sound.

As a homeowner, you can reasonably expect the equity in your home to increase over time as your mortgage is paid down. That, combined with the regular appreciation in property values, can be a rewarding way to increase your personal net worth. In contrast, the person renting over the same amount of time is left with no property investment, but may have enjoyed lower living expenses and the opportunity to invest in other wealth building vehicles.

If you've decided to buy, there's a lot to consider. Our Rent or Buy calculator compares the financial advantage of buying versus renting based on your current monthly rent, available down payment funds and your desired monthly payment if you purchased a home.