Tell me — using my real numbers — whether renting or buying makes more sense. No 'renting is throwing money away' nonsense.
CITY: {city_country}
MONTHLY RENT for the equivalent place: {amount}
HOME PURCHASE PRICE I'M LOOKING AT: {amount}
DOWN PAYMENT I HAVE: {amount + %}
MORTGAGE RATE I QUALIFY FOR: {rate_or_'unknown' — assume 6.5-7.5% US current}
PROPERTY TAX RATE: {annual_%_of_value}
HOA / CONDO FEE: {monthly}
INSURANCE: {monthly}
MAINTENANCE EST: {1% of value/year is default}
HOW LONG WILL I STAY: {years}
CAREER FLEXIBILITY: {how_locked_to_this_city}
OPPORTUNITY COST: {what_would_you_invest_the_down_payment_in_if_you_rent}
OUTPUT:
1. **Total monthly cost of owning** vs renting — break it down (mortgage P+I, taxes, insurance, HOA, maintenance, lost interest on down payment).
2. **5-year and 10-year total** comparison — what each path costs after appreciation/equity and after compounding the saved down payment in index funds.
3. **Break-even time** — at what year ownership beats renting given your inputs.
4. **What changes the answer** — 3 variables that flip the result if they move (rate ±1%, appreciation ±2%/yr, length of stay ±2 yrs).
5. **The non-financial answer** — when buying makes sense even if the math is close (school district, kids, lock-in payment, sense of stability) and when renting wins (career flux, expensive city, repair-averse).0 copies·0 saves·1 views
202 words·1,371 chars
Sample output
City: Seattle · rent $2,800 · purchase $720K · 20% down ($144K) · 6.8% rate · property tax 0.95% · no HOA · insurance $130/mo · maint $600/mo (1%/yr) · plan to stay 7 years
Monthly cost of owning:
Renting cost: $2,800/mo. Difference of $3,096/mo cheaper.
IF you rent and invest that $3,096/mo difference + the $144K at 7%: after 7 years the rent path is sitting on $483K invested.
IF you buy: 7 years of mortgage payments builds ~$108K equity. House appreciates at 3% per year (Seattle long-term avg) → $897K. Subtract selling costs (6%) = $843K. Subtract remaining mortgage ($510K) = $333K cash from sale.
7-year net position: Rent + invest: ~$483K. Buy: ~$333K. Renting wins by ~$150K at these numbers.
Break-even: ~13 years at current rates.
Parameters
Text generation parameters
FAQ
The single most-skipped cost: opportunity cost on the down payment. That $144K isn't 'free' just because it's in a house — it has a job. The prompt targets ChatGPT (GPT-4) and lives in the Personal & Career category on mycopyprompt.
This prompt is written for ChatGPT (GPT-4). It's a text/chat prompt — paste it into ChatGPT (GPT-4) (or compatible LLMs like Claude or GPT-4) to get the expected output.
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See the "Sample output" panel above — that's a real example of what ChatGPT (GPT-4) returns when this prompt runs. Your output will vary in wording but should follow the same structure and depth.
Similar prompts
Matched against every prompt in the catalog by title.
Non-financial:
Your numbers say rent + invest the difference for 7 years. Reassess at year 5 if rates drop or your timeline extends.