Should You Rent or Buy?
It's not just about the mortgage payment. Between closing costs, maintenance, property taxes, and the opportunity cost of your down payment, the true cost of buying is deeper than the sticker price. Run the numbers to estimate which path might cost less.
$80,000 down
National avg: $300-$500 for a standard single-family home
National avg: $1,250 for local moves; $4,800+ for long-distance
Closing Costs
Buying saves you $4,968 over 15 years
That's $28/mo in savings
Buying looks like the move
See how much house you can actually afford
A financial advisor can help you understand if you can afford the home you want without sacrificing the rest of your financial life.
NerdWallet Wealth Partners, LLC ("NWWP") is an SEC-registered investment adviser. Registration does not imply skill or training. All investments involve risk, including potential loss of principal.
How it breaks down
Buying — Upfront
Buying — Ongoing
Buying — Exit
Renting
Results are for illustrative purposes only and do not constitute financial advice. Calculations use simplified models and do not account for mortgage interest deductions, property tax deductions, opportunity cost nuances, or local market conditions. Interest is calculated monthly.