Review: 5 - "A masterpiece of literature" by , written on May 4, 2006
I really enjoyed this book. It captures the essential challenge people face as they try make sense of their lives and grow to adulthood.

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Rent or Buy your Next Home? This Calculator can help decide what's right for you!

The model compares the net value generated by buying a home vs. renting one, until mortgage pay-off, assuming availability of the same initial sum of money. Target home price assumed as starting sum for the “Rent” scenario and target home price less down-payment assumed for the “Buy” scenario.
The procedure requires:
selecting a target home price and a target rent price for properties of comparable size and location (or same property);
replacing default numbers with data tailored to your personal situation, for more accurate results.
More specifically, data to be entered include, for the “Buy” scenario:
Target Home Price
Buying Closing Costs (% of home cost)
Annual Property Tax, Home Insurance, Maintenance (% of home value)
Annual Property Appreciation %
Down-payment %
Mortgage Rate (fixed/variable)
Mortgage Term (or time horizon, if no mortgage is taken)
Selling Closing Costs (for the sake of uniform comparison, sale is assumed at the end of the mortgage term, at the estimated appreciated value)
And for the “Rent” scenario:
Target Monthly Rent
Security Deposit
Renter’s Insurance (% of annual rent)
Annual Rent Appreciation %
Based on the above, the model calculates mortgage repayment schedule and value generated during the time horizon for the 2 scenarios, taking into account all costs plus return on the invested liquidity.
Rent or Buy your Next Home? This Calculator can help decide what's right for you!

The model compares the net value generated by buying a home vs. renting one, until mortgage pay-off, assuming availability of the same initial sum of money. Target home price assumed as starting sum for the “Rent” scenario and target home price less down-payment assumed for the “Buy” scenario. The procedure requires:  selecting a target home price and a target rent price for properties of comparable size and location (or same property); replacing default numbers with data tailored to your personal situation, for more accurate results.More specifically, data to be entered include, for the “Buy” scenario: Target Home Price Buying Closing Costs (% of home cost) Annual Property Tax, Home Insurance, Maintenance (% of home value) Annual Property Appreciation %  Down-payment % Mortgage Rate (fixed/variable) Mortgage Term (or time horizon, if no mortgage is taken) Selling Closing Costs (for the sake of uniform comparison, sale is assumed at the end of the mortgage term, at the estimated appreciated value)And for the “Rent” scenario: Target Monthly Rent Security Deposit Renter’s Insurance (% of annual rent) Annual Rent Appreciation % Based on the above, the model calculates mortgage repayment schedule and value generated during the time horizon for the 2 scenarios, taking into account all costs plus return on the invested liquidity.

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