10-Year Rent vs Buy in Virginia Beach, VA
If you plan to stay in Virginia Beach for 10 years, here's how renting and buying compare.
🏠 Buying Appears Better
Potential savings by buying: $23,694
Total Rent Paid
$220,106
Total Owner Costs
$398,286
Equity After Selling
$201,874
Customize Your Analysis
The above results use default assumptions. Adjust the inputs below to match your specific situation.
Rent vs Buy in Virginia Beach, Virginia
Should you rent or buy a home? Calculate your best option.
Your Scenario
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10 years
1 years30 years
Explore Scenarios
Adjust these sliders to see how different assumptions affect your decision.
Mortgage Rate7.00%
5%7%9%
Home Appreciation3.0%
0%3%5%
Rent Growth3.0%
0%3%6%
Time Horizon10 years
35710
💡 Tips
- • Higher mortgage rates favor renting
- • Higher home appreciation favors buying
- • Higher rent growth favors buying
- • Longer time horizons typically favor buying
🏠Buying is Better
You could save $23,694 by buying
Over 10 years
Monthly Cost (Rent)
$1,834
Average
Monthly Cost (Own)
$2,648
Average (excl. equity)
Total Rent Paid
$220,106
Total Owner Costs
$398,286
Final Equity
$201,874
After selling costs
Break-Even Year
Year 8
Within horizon
Upfront Costs to Buy
Down Payment (20%)$70,000
Closing Costs (3%)$10,500
Total Needed$80,500
Cost Comparison Over Time
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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