Total Cost Comparison · Appreciation · Opportunity Cost
If renting, your down payment could be invested instead
Multiply the home price by 5%, divide by 12. If your rent is below that number, renting is likely cheaper. If above, buying wins.
| Cost | Typical Amount |
|---|---|
| Closing Costs | 2-5% of home price |
| Maintenance & Repairs | 1-2% of home value/yr |
| Property Tax | 0.5-2.5% of value/yr |
| HOA Fees | $200-500/mo (if applicable) |
| Selling Costs (realtor) | 5-6% when you sell |