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p>Rent or Buy Calculator Helps You Decide Which Is Best:

Image from LifeHacker article on NYT\'s rent calculator

The New York Times Rent or Buy Calculator compares the cost of renting versus buying your home to determine which is a better money move in the long run. Give it your monthly rent, the projected price of buying a house, mortgage rate, and property tax, and it’ll determine after how many years buying is better than renting (if at all). If you live somewhere like Los Angeles or New York and your name doesn’t end with Rockefeller, the calculator is a little depressing. With that in mind, whether or not you live in an area where the real estate is more realistic, the Rent or Buy Calculator is incredibly useful. Let’s hear which it recommends for your situation in the comments.

Is It Better to Buy or Rent [NYT via Apartment Therapy]

(Via Lifehacker.)