Recently I started looking at buying a home and fell in love with this charming duplex in one of my favorite neighborhoods and a block or two off from the bike path. I rallied the broker and my realtor to start drafting up the paperwork when my realtor asked what was the highest I was willing to spend on this house. Yikes, full stop. I realized I hadn’t crunched any numbers on the biggest financial decision I’d ever made. Thankfully the math showed me my situation actually warranted continuing to rent. Hopefully it can shed some light on your situation for you too!
Quick Start
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On the Dashboard, fill out the Monthly Spend, Rent, House Price, and Cash on Hand input cells.
The Wealth by Year output table will be a quickly summarize your projected wealth in either scenario.
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To Buy or Not To Buy: Home
Additional Reading
Rent vs. Buy: If You Have to Ask, You Should Probably Rent [MMM]
The Wall Street Journal Complete Home Owner’s Guidebook [MultCoLib] [Amz]