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Rent or buy?
There's no single answer: it depends on how long you stay, how prices and rents grow, and what your down payment could earn invested. See year by year when buying starts to win.
Buying pulls ahead around
Renting wins for 30 years
Price-to-rent ratio 22.2: above 20, renting usually wins
| Year | Buy: net worth | Rent: investments |
|---|---|---|
| 1 | $155,667 | $215,127 |
| 3 | $231,156 | $297,956 |
| 5 | $312,574 | $387,348 |
| 7 | $400,426 | $483,901 |
| 10 | $545,493 | $643,618 |
| 15 | $828,033 | $955,938 |
| 20 | $1,171,784 | $1,338,440 |
| 25 | $1,591,271 | $1,809,094 |
Buy = home value - 5% selling costs - mortgage left + savings invested; Rent = down payment and closing costs invested + monthly savings invested.
Estimate: maintenance 1% of value a year, closing costs about 2%, no tax effects; price, rent and investment growth are assumptions and real results can differ a lot.