Start with how long you will stay. Under five years, renting usually wins once you add buying fees, maintenance and the opportunity cost of a locked-up deposit. Beyond that, ownership pulls ahead in most markets.
Run both budgets honestly
- Renting: rent, renters' insurance, and any pet or parking fees.
- Buying: mortgage, property tax, insurance, upkeep and a repair reserve of 1% a year.
- Add buying and selling fees spread over your expected stay.
- Compare what is left each month — not just the headline payment.
The tie-breakers
Money is only half the question. Buying buys control: the kitchen you want, the dog you want, no notice period. Renting buys freedom: new cities, new jobs, no roof to replace. Whichever leaves room for life — not just housing — is the right answer for now.
Maya Linden
Founder & Head of Listings at Larkspur Classifieds. Twelve years in residential sales.