This tool can provide a transparent & helpful financial perspective to help guide your decision-making process when considering buying versus renting a house in New Zealand.
This script requires Python 3 and the following packages:
pip install numpy numpy-financial argparseTo run the script, you need to provide several arguments detailing your current savings, house purchase price, and weekly rental price. There are also numerous optional arguments to better tailor the calculations to your specific situation.
--current-savings: Your current savings in NZD.
--house-purchase-price: The purchase price of the house in NZD.
--rental-price: The weekly rental price in NZD.--minimum-deposit: The minimum deposit percentage required to buy a house (default: 20%).
--transfer-cost: Costs associated with transferring the house, such as legal fees (default: 1500 NZD).
--house-insurance: Annual house insurance cost in NZD (default: 1000).
--house-maintenance: Annual house maintenance cost in NZD (default: 1000).
--house-rates: Annual house rates in NZD (default: 2000).
--rental-increase: Annual percentage increase in rental price (default: 4%).
--mortgage-interest-rate: Annual mortgage interest rate (default: 4.79%).
--savings-interest-rate: Annual savings interest rate (default: 6%).
--savings-interest-tax: Tax rate for savings interest (default: 33%).
--capital-gains-rate: Annual capital gains rate on the value of the house (default: 2%).
--capital-gains-tax: Tax rate for capital gains (default: 0%).
--boarders-contributions: Weekly contributions from boarders in NZD (default: 0).
--boarders-contributions-tax: Tax rate for boarders' contributions (default: 0%).
--period-years: Number of years to compare in the scenario (default: 30).python3 buy_vs_rent.py --current-savings 160000 --house-purchase-price 800000 --rental-price 400
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