Rent or Buy? Online Calculator Gives You The Answers

Rent or Buy? Online Calculator Gives You The Answers

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Jason Yang
Apr 22, 2011

With a struggling housing market and mortgage rates under 5%, many renters are facing the question of whether it makes sense to jump into home ownership versus paying for someone else's mortgage as a renter. The New York Times has a fantastic calculator that helps you really answer the question, Is It Better To Buy or Rent?

While there are some variables you'll have to guess at (such as annual home price change or annual rent price increase), The New York Time's rent/buy calculator provides a wide range of basic to advanced settings and present the answers in an easy to understand visualization, supported by the actual breakdown explaining the numbers.

Even if you've already got your heart set on buying, this calculator will show you how good of a deal you're getting (or not getting). If you do end up buying, here are a few tech tips from Unplggd to help search for that perfect place!

The New York Times Buy vs. Calculator
Long Term Mortgage Rates at 4.8% (Urban Turf)

(Images: Flickr member Ken Shuman licensed for use under Creative Commons)

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