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HomeCalc

Rent or buy in New Zealand? Compare the cost

Compare the total cost of buying a home with renting one over the same period.

No local legal figures for New Zealand

HomeCalc has no data on fees, taxes or lending limits in New Zealand. The loan maths and NZD formatting still work. Every fee starts at 0: enter your own, then check them with your lender or a local adviser.

The home and the rent

Example values: replace them with your own.

NZ$
The price you plan to pay.
NZ$
20% of the price
NZ$
What the tenant pays each month.
years
How long you expect to live in or hold the home.
LoanLoan: 20 years at 5.5% a year
years
%
One rate for the whole loan. For a promotional rate that later becomes a floating rate, use the mortgage calculator.

Monthly payment: NZ$3,687.08

Results

Over 10 years, buying costs NZ$10,810.67 less than renting under these assumptions.

New Zealand · NZD

BreakdownCost of owning: NZ$313,189.33 · Renting: NZ$324,000.00

Owning

Interest paid
NZ$246,189.33
Deposit interest forgone on the down payment and buyer costs
NZ$0.00
Buyer costs
NZ$0.00
Upkeep reserve
NZ$67,000.00
Resale costs
NZ$0.00
Less: value gained
-NZ$0.00
Cost of owning
NZ$313,189.33

Renting

Rent paid over 10 years (rising 0% a year)
NZ$324,000.00

Principal repaid builds your equity, so it is not counted as a cost.

Growth rates and the deposit rate are assumptions, not forecasts. If you change them above, the sentence changes too.

Note

HomeCalc works out the loan and adds up the fees you enter. It provides no legal figures for New Zealand: no fees, taxes or lending limits. It is not financial, legal or tax advice. Before you decide, check every figure with your lender or a licensed adviser in New Zealand. This site never stores the numbers you enter; they live only in the page address.

Assumptions you can change

  • Home price growth per year

    0%

    AssumptionProvisional

    The assumed change in the home's price each year. It can be negative. This is an assumption, not a forecast.

  • Rent growth per year

    0%

    AssumptionProvisional

    The assumed rise in rent each year. This is an assumption, not a forecast.

  • Deposit rate

    0%

    AssumptionProvisional

    What the same cash would earn each year in a deposit. This is an assumption, not a forecast.

  • Upkeep reserve

    1%

    Assumption

    The share of the price set aside each year for repairs and replacements. This is an assumption, not a forecast.

  • Resale costs

    0%

    No source yet. This is a provisional value.Provisional

    Taxes and the brokerage fee when you sell at the end, on the expected sale price.

  • Buyer costs

    NZ$0.00

    From the home-buying costs tool

    The taxes and fees the buyer pays on the purchase, from the home-buying costs tool.

    See the cost details

The link carries only the numbers you entered. The site keeps no copy of them.

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