Rent vs Buy Calculator
Compare the long-term cost of renting versus buying a home.
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đĄMost NZ first-home buyers need a 20% deposit to avoid low-equity fees. Check Kainga Ora for first-home buyer grants.
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years
âšī¸The breakeven year is when buying becomes financially better than renting. Beyond that horizon, you're wealthier as a homeowner.
Breakeven yearYear 2
Final equity (buying)$603,061
Final balance (renting)$260,623
Total buying cost$611,504
Total renting cost$360,673
| Year | Buy cost | Buy equity | Rent cost | Rent balance |
|---|---|---|---|---|
| 1 | $59,545 | $167,859 | $31,500 | $168,000 |
| 2â | $59,865 | $208,203 | $32,436 | $176,400 |
| 3 | $60,198 | $250,342 | $33,400 | $185,220 |
| 4 | $60,544 | $294,358 | $34,393 | $194,481 |
| 5 | $60,904 | $340,339 | $35,416 | $204,205 |
| 6 | $61,279 | $388,375 | $36,469 | $214,415 |
| 7 | $61,668 | $438,563 | $37,554 | $225,136 |
| 8 | $62,073 | $491,002 | $38,672 | $236,393 |
| 9 | $62,494 | $545,798 | $39,823 | $248,213 |
| 10 | $62,932 | $603,061 | $41,009 | $260,623 |