Should You Rent or Buy?
Choosing between buying a home or renting a home is often a big financial decision each with its pros and cons. Use a financial calculator like the Rent Vs. Own Calculator here to directly compare the cost of renting against the cost of buying!
The calculator looks at these basic variables:
- Property Information – Purchase price, estimated maintenace, HOA fees
- Mortgage terms – Down payment, interest rate, length of mortgage
- Estimated Property Tax & Insurance – you can find property tax rates at county central appraisal sites (www.DentonCAD.com; www.DallasCAD.org; www.CollinCAD.org)
- Rental cost for comparison
The Rent vs. Buy calculation breaks down the cost of buying a home, comparing the estimated monthly payment against monthly rent while taking into account the build up of equity through principal reduction and appreciation when you own!
If you’re interested in seeing how your rent compares to buying, try out our Rent Vs. Own Calculator today! Give us a call at (214) 449-1022 or email us for assistance with your rent vs. buy calculation. We’re here to help!