MyPlanner Beta: Housing Decision

Step 13 of 15 Housing Decision

MyPlanner

Compare renting vs. buying and find out how much home you can afford.

Scenario A: Buy

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🔒 My Finance Vault 0 fields

Your financial data synced across all steps.

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Default: 3% of home price. Typically 2-5% of purchase price.
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Scenario B: Rent

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Default: 1 month’s rent.
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General

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⚙️ Advanced Assumptions
2% Very Conservative7% Aggressive

Higher rate = more annual income but greater risk of depletion.

0% No Growth5% Fast Growth

Annual increase in household income until retirement.

Decision Analysis

Enter your housing details to see whether renting or buying comes out ahead over your planned stay.

Methodology and Guidance

Inputs: Home price, down payment, mortgage details, property tax, insurance, maintenance, HOA fees, closing costs, and expected appreciation for buying. Monthly rent, security deposit, renters insurance, and rent growth for renting.

Outputs: Monthly cost comparison, upfront costs, net worth projection at end of stay (home equity + investment growth vs. investment growth of savings), break-even year, and a clear buy vs. rent recommendation.

How to use: Buying typically wins if you stay 5+ years (transaction costs amortize). If your rent is much lower than a mortgage payment and you can invest the difference, renting may build more wealth. Use your actual rent vs. the full cost of ownership (tax, insurance, HOA, maintenance included).

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Powered by MyPlanIQ. Rent vs. buy analysis assumes constant payments and does not account for all tax implications. For informational purposes only. Not financial advice.