Compare the true costs of renting versus buying a home to make the best financial decision for your situation.
Consider lifestyle factors like flexibility to move, maintenance responsibilities, neighborhood stability, school districts, commute changes, and your long-term career plans. Financial calculations are important, but personal circumstances matter too.
Home appreciation varies significantly by location and market conditions. Historical averages range from 2-4% annually, but markets can be volatile. Consider conservative estimates and research local market trends for more accurate projections.
You can buy with less than 20% down, but you'll likely pay PMI (Private Mortgage Insurance), which adds to your monthly costs. FHA loans allow as little as 3.5% down. Adjust the down payment percentage in the calculator to see how it affects your comparison.