There is no mathematical formula to answer this question for you. People choose to buy a home for a variety reasons, including many that aren’t financial. For example, some people crave the independence that comes with owning your own place. Others want to customize their home to make it their own. However, the most important factors in this decision are financial. Because your situation is unique, it is impossible give you a definitive answer to this question. However, our Rent vs. Buy calculator is one of the best out there for helping you simplify the complexities you need to consider when making this important financial decision.
