- Buying saves
- $29,395
- Net cost of renting
- $202,289
- Net cost of buying
- $172,894
- Mortgage payment (P&I)
- $2,076
- Home equity at end
- $201,430
Over 7 years, renting costs about $202,289 in total. Buying costs $172,894 once you count payments, taxes, upkeep and the investment return your down payment could have earned — and subtract the $201,430 of equity you keep. Buying comes out ahead by $29,395. The longer you stay, the more buying tends to win.
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