What is the break-even point?

The break-even point on buying versus renting is the point where the total cost of owning, including your down payment's opportunity cost, closing costs, and maintenance, equals what you would have spent renting over the same period, after accounting for any equity built. It depends heavily on how long you plan to stay, since closing costs and moving costs get spread over fewer years if you sell quickly, making a short stay less favorable to owning. A lender or agent can run this calculation with your actual numbers. Joel Boss can build that comparison for a specific home and situation.