Rent vs buy calculator
Compare where you’d stand after renting or buying for the same number of years. Change any assumption: small changes in appreciation and returns move the answer a lot.
After 7 years
–
- If you buy: home equity after selling costs
- If you rent: savings invested
- Mortgage payment
How this estimate works
Buying: the mortgage at the example rate (semi-annual compounding), property tax at this year’s city rate, maintenance, insurance and condo fees; on selling, about 4% in costs. Renting: the down payment and roughly 1.5% buying costs invested instead, and in every year the cheaper option’s savings are invested at your chosen return. Taxes on investment gains and the CMHC premium (under 20% down) are not included.
Estimates are for illustration only. They are not a mortgage offer, approval, appraisal or tax advice. Confirm the numbers with your lender, lawyer or accountant.
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