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Rent vs Buy Calculator

This is one of the most important calculators for first home buyers who need a clear distinction on if it is better to rent or buy a place to live in. While there may be benefits to renting, you will be able to find out what you will end up paying in total, if you will own the item at the end of the term, if you are paying more for insurance, a warranty or a damage liable reduction product.

This calculator helps you work out:

  • If it is better to rent, buy or borrow electrical goods or furniture
  • The total cost of renting
  • The value in equity that you will build when you opt for a property purchase.

Things you should know

  • All results are shown in future dollars and not adjusted for inflation. If you need to consider any inflationary effects, you can reduce the savings & investment return and the home appreciation.
  • This calculator does not consider the tax implications of buying and renting a property and return on any savings or investment.
  • Savings / investment return, rent increase, Ongoing cost increase, Home appreciation are calculated yearly, hence they are compounding yearly.
  • In the home loan scenario, it is assumed that the repayments include both principal and interest. The repayments and interest are calculated by compounding monthly.
  • In the renting scenario, it is assumed that a year consists of 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
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