Rent or buy calculator
Compare what renting costs with what buying costs over the years you plan to stay. These are estimates, not advice. Every percent is an assumption you can change.
Price filled in from the link you opened (for example a listing). You can change it.
Results
Enter a home price, a down payment below 100%, a rent, and a term and stay of at least one year.
Over 5 years, buying costs about 73,851 JOD less.
These are estimates, not advice.
- Total cost of renting
- 101,871 JOD
- Total cost of buying, net of resale
- 28,020 JOD
- Monthly loan payment
- 620 JOD
- Loan still owed at the end
- 69,005 JOD
- Home value at the end
- 110,408 JOD
- Resale after the loan and selling cost
- 39,195 JOD
Buying costs less from year 1.
Assumptions used
- Down payment (%): 20% (Admin default: 20%)
- Mortgage rate (% a year): 7% (Admin default: 7%)
- Term (years): 20 (Admin default: 20)
- Years you plan to stay: 5 (Admin default: 5)
- Annual rent increase (%): 3% (Admin default: 3%)
- Home price growth (% a year): 2% (Admin default: 2%)
- Upfront buying costs (% of price): 5% (Admin default: 5%) No source entered. This percent is an assumption, not an official fee.
- Yearly ownership costs (% of price): 1% (Admin default: 1%) No source entered. This percent is an assumption, not an official fee.
- Selling cost (% of the home's value): 2% (Admin default: 2%) No source entered. This percent is an assumption, not an official fee.
- Investment return if renting (% a year on the down payment): 4% (Admin default: 4%) No source entered. This percent is an assumption, not an official fee.
Monthly rent starts at 500 JOD when this page is opened on its own. That is an example, not a market figure.
See properties for rent See properties for sale
Estimates only. This is not an offer of finance or financial advice. Rates, fees, eligibility and the final instalment vary by bank and change over time; ask the bank for a written quote.
Year by year
| Year | Renting | Buying (net) | Costs less |
|---|---|---|---|
| 1 | 19,204 JOD | 11,580 JOD | Buying |
| 2 | 38,976 JOD | 15,983 JOD | Buying |
| 3 | 59,333 JOD | 20,198 JOD | Buying |
| 4 | 80,292 JOD | 24,215 JOD | Buying |
| 5 | 101,871 JOD | 28,020 JOD | Buying |
About this calculator
The rent or buy calculator adds up what renting costs and what buying costs over the years you plan to stay. Renting counts the rent, rising each year by the increase you set, minus what your down payment could earn if you invested it instead. Buying counts the down payment, upfront costs, loan payments and yearly ownership costs, minus what you would keep from selling the home at the end, after the loan still owed and the selling cost.
Questions
- Why does the answer change with the years I stay?
- Buying has large costs at the start, such as the down payment and fees, while rent is paid month by month. The year-by-year table shows from which year buying costs less, if it does within the years checked.
- Is this financial advice?
- No. Every percent is an assumption you can change, and the result is only as good as those assumptions.
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