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Rent it, or own it?
Put the same home side by side: what it costs to rent, and what it costs to own each month. The monthly gap is where the decision starts.
The same home
$
%
%
yrs
$/mo
$/mo
$/mo
$/mo
OWNING COSTS MORE BY
$926
Per month, owning costs more than renting today. Equity and price growth work in the background to close the gap.
Own, per month
$3,826
Rent, per month
$2,900
Owning, every month
Mortgage payment4.29% over 25 years$3,251
Strata fee$340
Property tax$160
Maintenance set-aside$75
Cost of owning$3,826
Renting, every month
Rent$2,900
Renting saves you$926
Cash cost only. This compares monthly outlay. It does not count the principal you pay down, price growth, closing costs, or what you could earn investing the down payment. Owning usually wins over time; the monthly gap is only the starting point.
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