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Partners for life

Rent vs Buy calculator

To rent or to buy? That is the question… For many, getting into their own home seems out of reach, particularly when it comes to saving for a deposit and covering mortgage repayments. That being said, the lower short-term outlay in renting a home doesn’t generally add up to a stronger financial position later in life. Using our Rent vs. Buy calculator, you’ll be able to see the long-term difference between renting and buying. Just input your rental amount (and frequency), and the likely increase in rent each year; and then the details of a property you might like to buy (including price, costs, loan details, appreciation etc.). You can even use the results from our loan comparison calculator to determine which home loan you use in this calculator. Add your savings (using our savings calculator) and investment return over that same period and you’ll be given a graph that clearly indicates the disparity between your savings from paying rent vs. your home equity by buying – and how much better off you’d be financially by selecting one over the other. It may surprise you how soon the two cross over!

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