Rent or buy calculator from Ronan Lyons

Nice presentation and useful tool...

...but it doesn't take into account stamp duty nor annual maintenance costs.
 
I think this is an excellent tool.

It really demonstrates to the lay person househunting (like myself) the impact of interest rates on affordability.

It clearly shows me that on todays interest rate of 2 or 2.5% we can afford to spend X on a house and we would actually be financially better off than we are renting.
BUT if interest rates revert a more normal 4.5% then that situation changes completely.

And at the 6% default interest rate things get very scary indeed!
 
I would say it IS relative to where you live, where you rent and where you hope to buy. As rents in Dublin are much higher than in the country.

A typical rent in a country town ...for a three bed semi .... €500 euros pm...so on the rate calculation , it was still cheaper to buy , even if rates go over 5%....

It was a good tool.. Simple to execute...simple to comprehend...simple to digest.

I liked it.
 
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