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Every in-depth guide across Mortgage, Insurance, Investment, Salary, Rent and Budget, plus the Deal Workspace — our per-property case file for tracking a purchase from pre-approval to closing.
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Rent vs. Buy Worksheet
$9.99Lines up your real monthly rent against a real all-in mortgage payment — taxes, insurance, PMI, HOA, and a maintenance reserve included, not just principal and interest — then works out how many months of staying put it takes before buying pays back its upfront cost.
Format: Excel (.xlsx)
Look inside
Preview only — scroll to read it. The file you download is fully editable.
| Rent vs. Buy Worksheet | ||
| Blue cells are yours to fill in with your own numbers — use a real mortgage calculator (e.g. calculatorbystate.com/mortgage) or a lender quote for the mortgage-payment pieces. Black cells calculate automatically. This is general information to help you compare numbers, not financial or tax advice —… | ||
| Part 1 — What you pay to rent today | ||
| Rent (monthly) | 1800 | |
| Renter's insurance (monthly) | 15 | |
| Parking / storage fees, if separate (monthly) | 0 | |
| Utilities NOT included in rent that would change if you bought (monthly) | 60 | |
| Total monthly cost of renting | ƒx | |
| Part 2 — What buying would actually cost, all-in | ||
| Principal & interest (monthly) | 1850 | From a mortgage calculator or lender quote, based on your target home price, down payment, rate, and loan term. |
| Property tax (monthly) | 350 | Target home's assessed value × local property tax rate ÷ 12. |
| Homeowners insurance (monthly) | 120 | Get a real quote if you can; a rough placeholder is fine for a first pass. |
| Private mortgage insurance / PMI (monthly) | 85 | Only applies if your down payment is under 20% — ask your lender for the estimated amount. |
| HOA dues (monthly) | 0 | Only applies in a community with an HOA. |
| Maintenance & repairs reserve (monthly) | 200 | Common rule of thumb: 1% of the home's value per year, divided by 12 — adjust for age/condition. |
| Total monthly cost of owning | ƒx | |
| Difference (owning − renting), per month | ƒx | |
| Part 3 — One-time costs buying adds that renting doesn't | ||
| Down payment | 20000 | Often 3-20% of the purchase price depending on loan type. |
| Closing costs | 8000 | Typically a few percent of the purchase price — get a real Loan Estimate from a lender for your actual number. |
| Moving costs | 1500 | |
| Immediate repairs / furnishing | 1000 | |
| Total cash needed at purchase | ƒx | |
| Part 4 — Breakeven guidance | ||
| Buying generally isn't "cheaper" than renting on day one — the upfront costs above have to be recovered over time before buying comes out ahead. The rougher-but-useful check: divide your total cash needed at purchase by the monthly amount you'd save (or lose) by owning vs. renting — that's roughly h… | ||
| Months to break even (cash needed ÷ monthly savings from owning) | ƒx | |
| This worksheet is a general planning tool, not financial, tax, or legal advice. Rates, fees, and program limits vary by lender, location, and your individual circumstances — confirm real numbers with a lender before making a decision. For real, sourced state-by-state figures, see calculatorbystate.c… | ||
| Notes | ||
This template is general information, not financial, legal, or tax advice.