Rent vs Buy Calculator
Compare the long term cost of renting against buying the same property so the decision rests on numbers rather than opinion.
Use the rent vs buy calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the rent vs buy calculator tells you
What it shows
Total cost of renting against total cost of owning over your chosen period, including equity built.
What you need
Rent, property price, deposit, interest rate, and your expected time in the property.
What to do next
If buying stacks up, the next step is understanding your borrowing power and deposit position.
Three things worth testing
- The shorter your expected stay, the more renting tends to favour.
- Include rates, strata and maintenance in the ownership column.
- Test the comparison at a higher interest rate as well.
Frequently asked questions
How long do I need to own before buying beats renting?
Does the calculator account for property growth?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362