This is an interactive tool from the NY Times to give you an understanding of whether it is cost efficient to rent or to buy a home. In graph form you can see the number of years to break even and average annual savings from owning or renting. You can also calculate:
monthly rent
home price
down payment
mortgage rate
property taxes
annual rent increase
annual house increase
summary costs of renting
summary costs of buying house
more advanced settings
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html#
Saturday, February 21, 2009
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