Should I rent or should I own?
That's a question I'm wondering about as I write this page. The advice about owning your home is always way better than renting seems old and possibly out of date. The calculator on this page should help you out with your calculations.
This calculator is for general info/curiosity purposes only and should not be used for any other purposes.
The calculator exists to allow you to do a real comparison between what you would rent versus what you would own. Sometimes this is apples and oranges. If I, the author, was to own, I would want a 2 bedroom condo. If I were to rent, I would rent a 1 bedroom apartment.
This also assumes steady interest rates, rent increases, etc. which does not reflect reality.
This calculator does not account for tax payable on interest made from investments, nor any tax deductions for mortage interest.