jriemerm
Dryer sheet wannabe
You can play around with the variables, but the only way you can swing the conclusion in favor of renting is if you sell the house after only 1 year of ownership or assume some astronomical level of maintenance costs, HOA fees, etc. Based on my experience using this tool and others to analyze dozens of downsize options in Texas, any reasonable set of assumptions will generally favor owning.
There it is. I think of buying a home not so much as an investment--a way to increase my wealth--as an inflation hedge. In the vast majority of historical circumstances, by the time 10 years have passed a home buyer will be paying far less for living expenses than a renter living in an equivalent home. And once it's paid off you pay nothing but taxes and insurance. This is a huge boon for those who, like most retirees, are getting by on less income than they had when working.
Of course there are good reasons to rent. But buying pays off handsomely over time.