Rent vs Buy Calculator
Compare the true long-term cost of renting versus buying a home in Canada, including equity building and appreciation.
🏠 Monthly Rent
$2,800
Your current / expected rent
🏡 Monthly Mortgage Payment
$3,576
🔒 Fixed rate · 25-yr amortization
Payment will be automatically calculated upon entering the values below.
⬆️Mortgage payment is $776 more per month than rent(principal + interest only)
🏠 Renting
$
%
🏡 Buying
$
$
20.0% of home price
Your expected mortgage interest rate. Canadian rates use semi-annual compounding. Current 5-year fixed rates are typically 4.5–6.5%. Variable rates track the Bank of Canada prime rate.
%
How long your rate is locked in before renewal
Rate locked for the full term
Total time to pay off the mortgage
Expected annual increase in your home’s value. Canadian long-run average is roughly 3–5% per year, though this varies significantly by city and market cycle. Higher appreciation favours buying.
%
$
Annual cost of repairs, upkeep, and maintenance. A common rule of thumb is 1% of the home’s value per year (e.g., $7,500 on a $750K home). Renters have no maintenance costs.
$
Total Rent Cost (10 yrs)
$385,186
No equity built
Net Buy Cost (10 yrs)
$0
After equity: $663,752
Buying Saves
$389,877
Over 10 years
Monthly Cost Breakdown
Mortgage P+I
$3,576
Property Tax
$417
Maintenance
$250
Total Monthly (Buy)
$4,242
Advertisement
Medium Rectangle (300×250)
Replace with your Google AdSense
<ins> tagRelated Calculators
Sponsored
Compare Mortgage Rates
Find the best rate for your situation from Canada's top lenders.
Disclaimer: All calculations are estimates for informational purposes only. No data is collected or stored. Consult a qualified financial advisor before making financial decisions.