In the beginning… everyone starts out as a renter…

Eventually, some folks will become “first-time” buyers. Some will continue on to become “move-up” buyers, then “investors” and then ultimately “empty nesters” and so on and so forth. But some people will go on renting for years to come and even for entire lifetime’s like my grandmother did living in both Idaho and California.


Did you know that the money you spend on rent could actually be equity in your own home?

Did you ever stop to think and realize that as a renter… you are simply helping the owner (landlord) payoff their home?  It’s a reasonable question to always ask yourself, “Is it cheaper and better to rent or should I consider buying and owning a home?” Using this excel spreadsheet will help you determine at the baseline what you’re currently spending in rent.

what you pay in rent card

Now if you were to consider the return on your investment (ROI) if there were interest or equity involved, this next chart will help you determine both the gain and loss of renting vs owning. You owe it to yourself to know and understand this information.

Renting vs Owning Home

Look at how much money renters are spending today on rental property and they will never see that money EVER again! Where are you on this chart? Does it make sense to see how much home you could afford?

Lastly, you actually need an interactive calculator to enter in your own personal information to help you determine if renting or owning is right for you? You need to consider things like the home price, how long you plan to stay there, what are the mortgage details, taxes, closing costs, maintenance fees etc.

Try this New York Times calculator and see if owning or renting is best for you?