I came across this calculator through a friend of mine. He is an engineer and was debating over whether he should buy or rent a home. His level of detail was so high that he just couldn’t make up his mind, and I was having difficulty in giving any guidance. Through our discussions, he found this and sent it to me. Check out the calculator by clicking here.
The most amazing thing about this calculator is that you can customize it with all the details you would like. You can take in your assumptions of how much your house will increase in value and things like the mortgage amount which are in most simple calculators. Where it gets really fun is when you hit the ‘advanced settings’ button in the top right hand corner. You can play around with all the settings and find out the answers in your exact situation. I know from my assumptions you should be holding your house for well over 5 years to make it a profitable venture.
If you or someone you know is having questions about whether they should be purchasing or renting their future home, I’d love to help! Please just forward this blog post to them or have them call me.
Travis
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