Mortgage Calculators
Rent vs Buy Calculator
Compare the total cost of renting with the cost of buying over the same period, allowing for appreciation, maintenance and the equity you build.
Lower total cost
Buying
- Total cost of renting
- $183,899
- Net cost of buying
- $102,962
- Equity at the end
- $203,842
- Difference
- $80,937
Excludes selling costs and any investment return on the deposit if you kept renting.
How this calculator works
Buy cost = payments + running costs + deposit − (sale value − remaining balance)
- sale value
- the home's value after appreciation over your horizon
- running costs
- maintenance, tax and insurance as a share of value
Selling costs and the return you could earn on the deposit if invested are not modelled.
Important considerations
- Short horizons usually favour renting because buying costs are front-loaded.
- Appreciation is the least predictable input — test a pessimistic figure too.
Related calculators
- Mortgage Affordability CalculatorHow much house your income and debts realistically support.
- Closing Cost CalculatorTotal cash needed to close, deposit included.
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Down Payment CalculatorDeposit required, loan needed and time to save it.
- Mortgage Payment CalculatorPrincipal and interest payment on any home loan amount.
- Mortgage Refinance CalculatorMonthly saving and break-even point on a refinance.
Learn more
Fixed vs. Variable Mortgage Rates: A Side-by-Side Comparison
How rate structure affects monthly payments, total interest, and the risk you carry over a full loan term.
When Refinancing a Mortgage Changes Your Total Cost
How break fees, remaining term, and the new rate combine to decide whether refinancing saves anything.
Home Loan Deposits and Loan-to-Value Bands, Explained
What a deposit changes about pricing, and why lenders group applications into LTV bands.
Terms used here
Frequently asked questions
Why can renting win even with rising rents?
Because interest, maintenance and transaction costs in the early years of ownership often exceed the equity built.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01