Rent vs. buy
Is your rent quietly
buying someone else a house?
Most calculators compare a rent check to a mortgage payment and call it a day. This one counts what South Florida actually charges you: property taxes, insurance, HOA dues, maintenance, closing and selling costs — then shows the year owning pulls ahead.
If you rent
If you buy
Assumptions
After 7 years
Buying comes out ahead by $92,914
Based on these numbers, owning costs less over your time horizon once equity and appreciation are counted.
Monthly payment if you buy
$4,337
Cash needed at closing
$68,250
Total spent renting
$306,327
Net cost of owning
$213,414
Estimated equity at sale
$215,287
Break-even point
Year 4
Estimates only. Owning assumes 3% closing costs, 1% annual maintenance and 7% selling costs; renting assumes renter's insurance at 1% of rent. Actual taxes, insurance and HOA vary by property — Carlos can run the real numbers on any address.
Three things the math won't tell you
Insurance is the Florida variable
Roof age, impact windows and flood zone can swing a premium by thousands a year. Slide the insurance number to test worst case before you fall in love with a house.
HOA is not a small line item
Condo dues plus special assessments after the 2022 milestone-inspection law can rival a mortgage payment. Always model the dues, not just the price.
Time horizon decides everything
Buying almost always loses under three years because of closing and selling costs, and almost always wins past seven. Be honest about how long you'll stay.
Want these numbers run on a real address?
Send me the property and I'll pull actual taxes, insurance quotes and HOA dues.