Rent vs Buy

This calculator shows you how your finances will look seven years after buying a home or continuing to rent, allowing you to make an informed decision between the two.

Monthly rent paid for accommodation $
Property purchase price $
Loan amount $
Loan period years
Mortgage interest rate %
Deposit $
Cost of buying and borrowing $
Quarterly council rates payment $
Conduct analysis at year
Change Assumptions
If you are in a position to know precise figures, please change our assumptions below and recalculate outcome.
Annual rental increases %
Return on invested funds %
Yearly appreciation on the home %
Annual home maintenance $

About Rent vs. Buy

The Rent versus Buy Comparator allows the user to compare their estimated financial position after 7 years of renting with their estimated financial position after 7 years of home loan repayments. In essence, it allows you to assess whether your net wealth will be greater or less if you buy a home versus continuing to rent.

This tool assumes that the individual who rents will invest the deposit they have saved to purchase their home. Similarly the other property purchase and home loan start up costs, such as stamp duty and loan establishment fees are also assumed to be invested. It also assumes that the renting party will make monthly deposits equivalent to their disposable income (the difference between the calculated monthly mortgage repayments and the provided monthly rental rate) as well as annual property maintenance costs and quarterly rates.

This tool is an estimation tool only should not be considered financial advice.

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Tuesday Sep 25, 2018
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