Rent or buy in the Bahamas?
Move the sliders and see which one leaves you better off after the number of years you plan to stay. It also shows the year buying starts to win.
The part you pay up front, as a share of the price.
Example rate. Ask your lender for a real quote.
More assumptions
Prices can go down as well as up.
As a share of the home value.
Legal fees, stamp duty and other closing costs, as a share of the price. Check yours with your attorney.
Agent commission and legal fees, as a share of the sale price.
What your down payment and monthly savings could earn if you invested them.
Buying wins from-
Cash needed up front to buy-
Monthly cost to own (year 1)-
Monthly rent (year 1)-
You would have if you buy-
You would have if you rent-
What you would have, year by year
Planning estimates with example numbers, not financial, tax or legal advice. “You would have” means the home’s value after paying off the loan and selling costs if you buy, or your savings if you rent and invest the difference each month. It leaves out income tax, inflation and changes in rates. Real results depend on your situation. Speak to a lender, an accountant and an attorney before you decide.
Want real numbers for a home you like?
Tell me what you are looking at and I will check the rent, costs and price with local figures.