Rent vs Buy

Sure it’s okay to go with your gut at times. But for the difficult decisions in life like Renting vs Buying, there’s Oribar. Using our calculator, we help you find how many years it will take before the cost of buying equals the cost of renting - “the breakeven point”. If you are planning on renting past the breakeven point, buying can be a better option. But we leave it up to you. Our job is to empower our customers with the resources needed to make better decisions

Your Details
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Your monthly saving will be -$79 for a total saving of -$28,437 over the course of 30 years.

After 30 years
Home Value$1,820,447
Debt Remaining$233,399
Home Equity$1,587,048
Total Mortgage$1,219,113
Total Rent$1,427,262

What to consider when making your decision

  1. For each scenario, what is your monthly budget?
  2. How much house can you comfortably afford?
  3. How long do you intend to stay and whether you intend to sell the property after that?
  4. How much money do you have set up for a down payment, closing costs, relocation costs, and other housing-related expenses?
  5. The neighborhood and price inflation for renting and buying a home.

Our Methodology

Our buy vs. rent calculator creates two models: one that calculates all of the costs of owning and another that includes all of the costs of renting.

In addition to the monthly rent, this calculator takes into account expected rental price inflation and includes a one-time security deposit equal to the monthly rent.

This calculator considers one-time expenses such as downpayment and closing costs when calculating the cost of purchasing a home. Monthly expenses such as insurance, HOA fees, property taxes, and home maintenance are also included.

Your result assumes that you will deduct mortgage interest and property tax on your taxes, and that your marginal income tax is based on your income and tax filing status. To make things easier, most of these boxes are pre-filled and can be customized to your specific needs.

The Rent vs. Buy calculator displays the home's value after assuming annual appreciation, the amount owed on the house, and the equity accumulated over time.