# Should I rent or buy? A 10-question checklist | Should I Rent or Buy

Source: https://shouldirentorbuy.org/guides/should-i-rent-or-buy/

# Should I rent or buy? A 10-question checklist

Answer these before you run the numbers. Each one maps to an input in the calculator.

1. How long will I stay? This is the single biggest driver. Put it in “Years you expect to stay.”
1. Do I have the down payment and closing cash without emptying my emergency fund?
1. What rate can I actually get? Use a quote, not a headline average. The CFPB suggests comparing official Loan Estimates from more than one lender. [1](#fn1)
1. Will I pay PMI? Likely on a conventional loan under 20 percent down. [2](#fn2)
1. What are property taxes and insurance for this specific home? Ask for the tax bill and an insurance quote.
1. Are there HOA dues or special assessments?
1. What will maintenance cost? Older homes and big systems near the end of their life cost more.
1. What does a comparable rental cost, and how fast have rents risen where I want to live?
1. What would I do with the cash if I rented? The comparison assumes you invest it.
1. How stable is my income, and what is my debt-to-income ratio? [3](#fn3)

Then [run the rent vs buy calculator](https://shouldirentorbuy.org/) and change one input at a time to see which ones swing the answer.

## Questions

### Should I rent or buy if I might move in two years?

On most realistic inputs, renting is cheaper over two years because buying and selling costs have little time to be covered. Test your own numbers with the years-you-expect-to-stay field.

### Should I buy if I can only put 5 percent down?

You may be able to, but a conventional loan with under 20 percent down usually means private mortgage insurance, and a smaller cushion if prices fall. Enter your real down payment and PMI quote to see the effect.

1. CFPB, “Buying a house: Tools and resources for homebuyers,” [https://www.consumerfinance.gov/owning-a-home/](https://www.consumerfinance.gov/owning-a-home/), read November 11, 2026. [↩](#s1)
1. CFPB, “What is private mortgage insurance?”, [https://www.consumerfinance.gov/ask-cfpb/what-is-private-mortgage-insurance-en-122/](https://www.consumerfinance.gov/ask-cfpb/what-is-private-mortgage-insurance-en-122/). [↩](#s2)
1. CFPB, “What is a debt-to-income ratio?”, [https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-en-1791/](https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-en-1791/). [↩](#s3)

## Quick rule

If you will move before the calculator’s break-even year, renting usually wins. If you will stay well past it and can carry the costs comfortably, buying usually builds more wealth.

[Open the calculator](https://shouldirentorbuy.org/)

If you want a person to talk through renting or buying where you live, [talk to a real estate professional](https://shouldirentorbuy.org/#talk). The form is an inquiry only. This site does not name an agent or promise a call.