The Daily Dinar

The question of whether it is better to buy or rent is often an easy one for Muslims as, depending on where one lives, halal finance options may not always be available. Often, home ownership is seen as more or less given: the Great Australian, American, or Calathumpian Dream.

However, it is not always so simple and depending on one’s circumstances and the real estate market, renting can often be a better option financially. In some cases, particularly if your rent is a lot less than the housing loan repayments, you may be better off renting and investing the difference in some high yield investment vehicle.

This calculator at the New York Times helps you calculate whether renting is better than buying and, based on estimated rental and property value increases, at what point you become better off buying.