Rent vs Buy Calculator for Home Buyers in Los Angeles

Rent vs Buy Calculator gives Home Buyers an economic breakdown of buying a home in the current Los Angeles and Orange County Real Estate Market.

There has never been a better time to buy a home in Los Angeles with interest rates at an all time low, making this an opportunity of a life time to lock in a 30 year fixed rate loan. Los Angeles homes for Sale are affordable in most parts of the county mainly because home values were negatively impacted on a large scale and drove thousands of home owners in to foreclosure and short sales. Now renting is in high demand because many families were uprooted and must now rent, driving demand up!

 

Monthly rent	$

Monthly renter’s insurance	$

Yearly rent increase (decrease)			%

Purchase price	$

Appreciation (Depreciation) rate			%

Your savings rate			%

Your state + federal tax rate			%

Years before sell/pay off loan

Loan amount	$

Term (years)

Interest rate			%

Origination Charge	$

Charge For Specific Interest Rate			%

Other settlement services	$

Yearly property tax	$

Yearly maintenance	$

Yearly property insurance	$

Selling costs (% of selling price)			%

	Owning will save you $11,980 compared to renting over the 7 years, in today’s dollars.

	Regarding ownership for the 7 years
	Total tax savings $6,088
	Total maintenance $4,900
	Selling price $154,169
	Equity $55,201
	Selling costs $15,417

	Total payments
	Owning Renting
	Principal and interest $549 N/A
	Taxes and insurance $200 N/A
	Mortgage insurance $90 N/A
	$700 Total initial payment $839

Home affordability levels display that in fact it is cheaper to buy a home versus Renting now in certain parts of the country.

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