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About Everything Wiki » Education » Is it better to buy or rent a house? The answer will be given by a special calculator!

Is it better to buy or rent a house? The answer will be given by a special calculator!

03 May 2023, 04:49, parser
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The desire to have their own housing often deprives people of the ability to think adequately and drives them into real financial slavery. Yes, it is very difficult to move from place to place, but it is also not very reasonable to pay exorbitant amounts of expensive loans on a monthly basis in a bloated real estate market. Few people will argue with the fact that buying apartments in Moscow or Kiev is less financially profitable than renting for the same 20 years. But in the countries of Western Europe, everything is exactly the opposite. We offer you to use an interesting calculator from the New York Times and decide for yourself which is more profitable to buy or rent housing in the conditions of your real estate market and the dynamics of its development.

The calculator will display the most important indicator for you — in how many years you will pay off the cost of purchasing a home compared to renting. The results are obtained based on the following data that you enter:

  • Monthly rent — monthly cost of rental housing;
  • Home price — full cost of housing;
  • Down payment — what is commonly called a down payment in our country;
  • Mortgage rate — annual interest rate on a mortgage loan;
  • Annual property taxes — annual property tax.

In addition, on the left, use the sliders to set the increase in the price of rent and the cost of real estate per year in %.

That's what happened to me, and you?

graph, which is more profitable, rent or rent housing, rise in price of apartments, buy an apartment, rent apartments

It Is Better to Buy or Rent?

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