The recently updated New York Times rent vs buy calculator raises the bar. According to Jack Guttentag, a mortgage expert who has dozens of calculators on his website, this is the best he has seen.
Making the choice between buying and renting is a big financial decision, and this new sophisticated tool takes more factors into consideration than were previously possible.
The calculator helps you make your decision based on factors such as…
- How long you plan to stay
- Down payment
- Closing costs
- Selling costs
- Maintenance costs
- Homeowners insurance
- Association (CIC) fees and deductions
- Security deposit
- Broker's fee
- Renter's insurance
Trying to decide if the time is right for you to buy? Check out the New York Times Rent vs Buy Calculator.