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Given your current rent determine how long you'd need to own your new house to break even

Run from source

  • Run make interactive

Calculation

  • The idea is to compare the opportunity cost of buying (the down payment would have been invested otherwise) with the money lost to monthly rent. Think of it as comparing the money we make renting verses what we make buying.
    • money made renting =

      • market growth of downpayment -
      • rent * time
    • money made buying =

      • real estate equity gain -
      • monthly maintanence -
      • monthly mortgage interest payments -
      • selling closing costs -
      • buying closing costs

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