Buy a home? Buying vs. Renting Calculator – Idaho: Victor, Driggs, Tetonia

Here is a great resource for renters considering buying a home in Idaho including Victor, Driggs and Tetonia areas. This Buying vs. Renting Calculator is provided by HUD, the U.S. Department of Housing and Urban Development.

Link to Calculator: http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH

I adjusted the interest rate to 5.5% and the years you plan to stay in the home to 5 years. The calculator is using a yearly home value increase of 2%.

The indication of the model I ran:

•· $278.00 dollars per month savings.

•· Does not indicate what rent increases are used.

•· Calculates a net equity earned of 40,755.

I just found this interesting and wanted to share with others.