Buy vs Rent: Step-by-Step Guide

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Show clients the financial opportunity in homeownership by using Buy vs Rent to compare their estimated monthly payments for renting or buying, and provide an estimate of future appreciation, as well as the potential tax savings that come with homeownership.

Creating your Buy vs Rent Report

To get started using the Buy vs. Rent comparison tool, follow the steps below:

  1. Choose which method you would like to use to compare Purchase Price, Desired Monthly Payment or Military BAH (Basic Allowance for Housing). 

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  1. For all three options, you will need to enter your client's name(s) and a location (#MLS, address, county, or zip code). 
  2. Depending on which option you choose for comparison, you will need to fill out slightly different information.
    • For Purchase Price, enter the Purchase Value of the home.
    • For Desired Monthly Payment, you will need to enter: Desired Monthly Payment, LTV Ratio, Rate and Term of Loan in years. 
    • For Military BAH, enter Monthly Allowance, Rate, and Term of Loans in years. 
  3. Click Next
  4. A preview of the report will be displayed. You can make adjustments to the report by clicking Edit under each of the different sections on the left-hand side of the page.Screenshot 2024-02-20 at 2.05.32 PM.png
    • Client: Make changes to your client's name, tax rate and filing status. 
    • Property: Make changes to the property's location, price, annual property tax, monthly home insurance, monthly association fee, estimated annual property tax percentage increase, estimated monthly repair costs, cost to sell, and select an appreciation rate.
    • Renting: View and edit the monthly rent, renter’s insurance and the annual rent increase used in the comparison.
    • Loan: View and edit all the loan information for your customer. You can edit the loan amount, term, loan program and type, rate, points used, mortgage insurance,  closing costs, credits, prepaid and escrows, and APR.
    • Co-branding: Click Add to choose which referral partner's co-branding you would like to add and the branding's orientation on the page.
  5. Click Review Report in the top right-hand corner of the page to see the final report.

Sharing the Report

Once you have completed all your desired edits, click Review Report to see the final product and share the report with others.  You may click the Edit button to make further adjustments. To share the completed report, click Share. A dropdown menu will appear.

  • Click Download to download the report as a PDF.
  • Click Send a link via email with an optional video recording (not available for some users depending on their company permission settings).
  • Click Host a meeting to virtually meet to discuss the report with your client.
  • Click Record a Video to provide your client with a clear walkthrough of the report along with your own insights and context.

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