🏠 Mortgage vs Rent Calculator 💰
🏠 Mortgage Details
Home Price ($)
Equity/Deposit ($)
Interest Rate (%)
Loan Term (years)
Rates($)
Monthly
Weekly
Yearly
Insurance ($)
Monthly
Weekly
Yearly
🏢 Rent Details
Rent Amount
Monthly
Weekly
Yearly
Annual Rent Increase (%)
🏠
Monthly Mortgage
$2,847
Principal, Interest, Tax & Insurance
🏢
Monthly Rent
$4000
Rent Payments
Renting saves you $322/month! 🎉
But remember: buying can build equity! 📈
Principal Paid (5y)
Mortgage Balance (5y)
Rent Paid (5y)
Mortgage Paid (5y)
Total Ownership Costs (5y)
Market Change
Home Value
Equity After 5 Years
Equity %
Net Position
💰 Monthly Payment Comparison
$2,847
🏠 Mortgage
$2,525
🏢 Rent
💡 Other Considerations
Pros
🏠 Build equity over time
🔑 Long-term stability and security
🧾 Potential tax benefits for homeowners
🔨 Freedom to renovate and personalize
📈 Benefit from property appreciation
Cons
💸 Upfront costs (deposit, stamp duty, fees)
🔧 Responsible for maintenance & repairs
📉 Risk of property value decline
🔒 Less flexibility to move quickly
💰 Ongoing costs (rates, insurance, interest)
📉 Opportunity cost of tying up capital