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A rent vs buy calculator compares the total cost of renting a home against buying one over a given time horizon. It accounts for mortgage payments, opportunity cost of the down payment, maintenance, taxes, and rental increases.

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1. 1Cost to buy: mortgage payments + maintenance (1–2% of value/year) + property taxes + insurance − equity built + opportunity cost of down payment
2. 2Cost to rent: rent + renters insurance + investing the down payment at market returns
3. 3The "break-even point" is when the cumulative cost of buying drops below renting

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