Is it Better to Rent or Buy in Austin, Texas today?
Financial decisions regarding renting or buying depend on current Austin market conditions and your desires and financial capacity.
There are advantages to buying: You have a home that is yours, and you may experience appreciation. Except for tax increases, your payments remain stable and there may be tax advantages.
This interactive site created by Texas Community Bank allows you to individualize the Rent vs Buy question.
In the Calculator, you will be asked to enter the price of the home you would buy, how long you want to stay in the house, mortgage details, what the future holds, taxes, closing costs, maintenance fees and additional renting expenses.
We can help you with these numbers to get the most accurate estimate.
This site also allows you to modify the numbers to see the effect of rising interest rates, putting more money down, and being more conservative or liberal in your future predictions. So enjoy!
