01 / RENTING
What you pay to stay
- Monthly rent and required fees
- Renters insurance and utilities
- Renewal terms and moving costs
- The flexibility you want to keep
A CLEARER NEXT CHAPTER · DALLAS–FORT WORTH
Before you renew,
see what’s possible.
Another lease. Or a place of your own. Let’s compare the real costs, the timing, and the homes that could fit your life.
Get my rent-versus-buy planA personal conversation. No pressure to buy.
David D. McElroy
Texas real estate broker · 46 years of experience
Your next move starts with clarity.
North Dallas · Addison · Richardson · Beyond
Buying is a possibility.
Renting can be the right choice, too.
We’ll help you understand both—with a complete picture of monthly costs and cash needed, so you can make a decision on your terms.
START WITH THE WHOLE PICTURE
A mortgage payment
isn’t the whole story.
Your plan looks beyond the headline number. No “buy for the price of rent” promises. Just a useful comparison for your circumstances.
02 / BUYING
What ownership really costs
- Principal and interest
- Property taxes and insurance
- Mortgage insurance, if applicable
- HOA dues and maintenance
- Down payment and closing costs
THE NUMBERS, WITH NOTHING LEFT OUT
Rent versus buy.
Put the full costs side by side.
Explore an illustrative budget, then replace these assumptions with property-specific estimates and lender quotes. A lower mortgage payment alone doesn’t mean a lower total cost.
YOUR ASSUMPTIONS EDIT TO EXPLORE
Defaults are planning assumptions, not current quotes or loan eligibility criteria. Taxes use purchase price without exemptions. HOA, insurance, and maintenance depend on the property; condo assessments may be additional.
ILLUSTRATIVE MONTHLY OWNERSHIP BUDGET
$3,570$1,270 more per month than the rent entered
- Principal & interest
- $2,069
- Property taxes
- $613
- Homeowners insurance
- $300
- Mortgage insurance (PMI)
- $144
- HOA dues
- $225
- Maintenance reserve
- $219
DOWN PAYMENT + ESTIMATED CLOSING COSTS$43,750
Additional reserves, moving costs, repairs, and any special assessments are not included.
Rent input is the amount you enter; add your rental fees for a fairer comparison. Utilities are excluded on both sides. Maintenance is a budget reserve, not a fixed monthly bill. PMI automatically becomes zero at 20% down in this conventional-loan illustration. Principal builds equity but is still part of monthly cash outflow. This tool does not model appreciation, selling costs, investment returns, or a rent-versus-buy break-even period. Note rate is not APR.
Build my personal comparison →A PLAN, NOT A SALES PITCH
Three steps.
A more informed decision.
Tell us where you are
Share your rent, lease timing, and the areas you’re considering. You don’t need to have it all figured out.
Explore the real numbers
Discuss a comfortable budget and potential homes. A lender can help establish financing options and cash needed.
Choose your next move
Decide whether to explore homes now, prepare for later, or renew your lease with greater confidence.
LET’S LOOK AT YOUR OPTIONS
Your lease has
a timeline.
Let’s find yours.
Whether you’re in Addison, CityLine, Farmers Branch, or elsewhere in DFW, your plan starts with your priorities.
DM
David D. McElroy
Texas real estate broker
Local knowledge. A long-term perspective.
No credit check through this form. Please don’t submit Social Security numbers, bank information, or loan documents.
GOOD QUESTIONS. STRAIGHT ANSWERS.
Before you take
the next step.
Will buying cost less than my rent?
Not necessarily. Ownership may cost more each month once taxes, insurance, mortgage insurance, HOA dues, and maintenance are included. The goal is to understand the tradeoffs—not promise a lower payment.
Do I need a 20% down payment?
Not every loan requires 20% down. Available options depend on the loan program, property, and your circumstances. A lender can explain the down payment, closing costs, mortgage insurance, and eligibility requirements.
What if my lease doesn’t end for several months?
That can give you time to prepare. We can discuss a timeline, questions for a lender, and how to compare future options before you commit to another lease.
Is this a rent-to-own program?
No. This is a consultation about renting versus purchasing a home through a conventional real estate transaction. No lease-purchase arrangement or financing is being offered.
Am I committing to work with an agent?
No representation agreement is created by this form. If you decide to proceed, services, representation terms, and compensation will be discussed separately.