How to Know if it’s Better to Buy or Rent

Continue to rent or buy? This is an often asked question among potential home buyers. One makes an analysis of the two scenarios (buy vs. rent) and comes to a decision. But how many buyers have the ability to quickly factor in most of the anticipated costs of owning with relative ease? A calculator would help.

New York Times Interactive Calculator

(Click on photo to enlarge.)

Fortunately, the New York Times has provided just such a calculator for this analysis. Plug your numbers into the calculator and find out how many years you’ll need stay in the place you’re buying to save money over renting.