Rent vs Buy Calculator
Compare long-term costs of renting versus buying a home in Jamaica.
Tip: Buying cost includes down payment, mortgage, and maintenance. We subtract estimated resale value (appreciation) at the end.
Results
Total Renting Cost
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Net Buying Cost (after resale)
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Difference (Buy − Rent)
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How to Use the Rent vs Buy Calculator
Step-by-step guide for getting accurate results.
Inputs
- Monthly Rent: Enter your current or expected monthly rent in Jamaican Dollars (JMD).
- Home Price: The market price of the property you are considering buying.
- Down Payment (%): Percentage of the purchase price you will pay upfront.
- Mortgage Rate (% annual): The annual interest rate on your loan.
- Annual Maintenance (% of price): Typical yearly upkeep costs (repairs, insurance, etc.).
- Home Appreciation (% annual): Expected growth in property value each year.
- Time Horizon (Years): How long you plan to stay in the property or continue renting.
Results
- Total Renting Cost: What you would spend in rent over the selected time horizon.
- Net Buying Cost: The effective cost of buying (mortgage + maintenance + down payment − resale value).
- Difference: Shows whether buying or renting costs more over the chosen period.
- Conclusion: A clear recommendation (e.g., “Buying becomes cheaper after ~X years”).
