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Planning Tool

Rent vs. Buy Calculator

See which option actually makes more financial sense for your situation in Utah.

If You Buy

$450,000
$100K$2M
10%($45,000)
3%50%
6.75%
2%12%
0.80%
$150
Include PMI
~0.5% annually until 20% equity

Home Value & Ownership Costs

3.50%
1.00%/yr
3.00%
7.00%

If You Rent Instead

$1,800
$500$4,000
4.00%
7 years
1 year30 years

This is the single biggest factor. Try dragging it — buying usually wins the longer you stay, since more of your payment builds equity and closing/selling costs get spread out.

Over 7 Years
Renting could save you
$25,639
Net Cost of Buying$196,242
Net Cost of Renting$170,603

"Net Cost of Buying" nets out the home equity you'd get back at sale. Renting builds no equity, so its net cost is simply the total rent paid.

The Numbers

Cash Paid to Own (down, closing, all payments)$361,002
Home Value After 7 Years$572,526
Home Equity If You Sell$204,836
Total Rent Paid$170,603

Ready to see real numbers?

These are estimates. Talk to a licensed loan officer for a personalized comparison based on your credit and goals.

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Disclaimer: This calculator provides estimates for informational purposes only, based on the assumptions you enter — actual home appreciation, rent growth, and costs will vary. It does not account for income taxes, mortgage interest deductions, or moving costs, and it does not credit any return on money you'd otherwise invest instead of buying. Contact Hometown Mortgage Co. for a personalized quote.