Rent vs Buy calculator
Is it best to rent or buy for the city you are considering?
To calculate local taxes and costs.
Avg. stay in a home is 13 years
Renting
Rental affordability calculator to learn what you can afford.
Buying
Home affordability calculator to learn what you can afford.
Varies depending on lender and credit score. See current rates.
Percentage of home's value, based on national average.
Costs to maintain your home annually as a percentage of purchase price.
Advanced
The annual rate you expect your home price to increase.
The annual rate you expect your rent to increase.
The annual rate you expect your non-real estate assets to increase.
Renting will be ₦94,555 cheaper per month
Buying
₦294,555/monthly avg
Initial costs₦5,750,000
Recurring costs₦3,534,666
Opportunity costs₦400,000
Net proceeds₦4,709,666
Total cost₦4,975,000
Renting
₦200,000/monthly avg
Initial costs₦200,000
Recurring costs₦2,448,000
Opportunity costs₦400,000
Net proceeds₦200,000
Total cost₦2,848,000