Buy vs. Rent Comparison Worksheet
Instructions: Fill in all the WHITE boxes with the proper information and the amounts and totals in the light BLUE boxes will automatically calculate for you. View your total Savings or Expense at the BOTTOM!
Costs of Rental Housing Monthly Rental Payment Total Annual Rental Payments Costs of a Home Purchase Sale Price How much is the house you are buying? Down Payment Amount % to be Financed Amount to be Financed Finance Closing Costs Approx 1.5% of loan amount Probably 30 years Term of Loan (years) Proposed Rate? Interest Rate (fixed) Monthly Principal & Interest Payment Annual Payments on Loan Annual Property Taxes Annual Insurance Premium Annual Homeowners Assn. Fees Do you pay HOA? Est. Maintenance & Repairs Total of Other Costs Est. First Year Interest Paid Homeowner's Effective Tax Rate
Enter your personal tax rate here
$2,000 $24,000
$300,000 $5,000 % 98.3% $295,000 $4,425 30 6.50 % $1,865 $22,375 $3,750 $750 $0 $2,250 $11,175 $19,175 28 % ($5,369) $28,181 ($4,181)
Est. Tax Reduction for Interest Paid First Year Cost of Home Ownership Savings/(Expense) from Home Purchase
Savings first year in black, expense in red, BUT LOOK BELOW FOR APPRECIATION
Appreciation of Property Appreciation in Property Value First Year
Conservative is 3%, Aggressive is 15%
8 %
$24,000
Savings/(Expense) from Home Purchase with Appreciation
Savings first year in black, expense in red
$19,819