Rent or buy calculator
Buying is not automatically smarter than renting. It depends almost entirely on how long you stay. Find your breakeven year.
Compare your options
What a similar Burleson home rents for today.
Long-term assumptions
These are your assumptions, not a forecast. The projection also charges 1 percent of the home value a year for upkeep, 3 percent to buy, and 7 percent to sell.
Frequently Asked Questions
It compares two running totals. Renting accumulates rent, growing each year at the rate you set. Buying accumulates the down payment, closing costs, the full monthly payment, and upkeep, then subtracts the equity you would walk away with after paying the costs of selling. The breakeven is the first year the owning total drops below the renting total.
Down payment, 3% closing costs, principal and interest, property tax, homeowners insurance, mortgage insurance when you are under 20% down, and 1% of the home value a year for maintenance. Selling is charged at 7% of the future sale price to cover commission and fees.
Because the costs of getting in and out are front loaded. You pay closing costs on day one, most of an early mortgage payment is interest rather than principal, and selling takes a percentage off the top. Time is what makes the math work, which is exactly why the breakeven year is the number to look at.
Often, and it is not a failure. If you might move within a couple of years, if your income is about to change, or if you are still repairing credit, renting keeps you flexible and cheap. Burleson has real inventory on both sides, which is why this site lists rentals alongside homes for sale.
No, and be suspicious of any calculator that claims otherwise. They are assumptions you set, and the result is only as good as they are. Set them conservatively and see whether the decision still holds.
IMPORTANT. This projection is a planning estimate built entirely from the assumptions you enter, and it is not financial, tax, or investment advice. Your use of it is subject to our Terms of Use. Real outcomes depend on the specific home, your tax situation, and market conditions nobody can forecast. BurlesonHomes.com is not a lender and provides information and advertising services.