Is it time to stop renting?
This rent vs buy calculator compares what you pay in rent with the true cost of owning, and shows which leaves you with more after five, ten or twenty years.
What this rent vs buy calculator tells you.
Renting is not always throwing money away, and buying is not always the better move. This tool shows you which one comes out ahead for your situation.
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Side by side
The total cost of owning, including strata, tax, upkeep and insurance, next to the cost of renting.
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What you would have
Compare the equity you build by owning with what your savings could grow to if you keep renting.
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When buying wins
See the year when buying starts to pay off, so you can decide how long you plan to stay.
How to use the rent vs buy calculator.
It only takes a couple of minutes. Every result updates while you type.
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Enter your rent
Use what you pay today, or what a similar place would cost.
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Add the home you have in mind
Put in the price, your down payment and the mortgage rate.
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Pick how long to compare
Choose the number of years you expect to stay in the home.
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Adjust the assumptions
Open More options to change price growth, rent increases and investment returns.
What you would have: buying vs renting
Monthly cost: owning vs renting
Year by year
Where these numbers come from
Every rule in this calculator is taken from these official pages.
- Mortgage loan insurance costPremium rates by loan-to-value, added to the mortgage.
- Saving for a down payment (FCAC)Minimum down payment of 5% and 10%, 20% from $1.5 million, and when insurance is required.
- Property transfer taxTax rates of 1%, 2%, 3% and the extra 2% over $3 million on residential property.
- First-time home buyers' exemptionFull exemption to $835,000, partial to $860,000, on the first $500,000.
Rent vs buy calculator: good questions to ask.
Short, plain answers. Still have questions? Ask me anything on a free call.
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Is renting really throwing money away?
Not always. Owners pay interest, property tax, strata and upkeep that they never get back either. The real question is which path leaves you with more, and this calculator compares both fairly.
Why does the renter invest money in the comparison?
A renter keeps the down payment and closing costs, and often pays less each month. To compare fairly, we assume that money is invested rather than spent.
What matters most when you compare rent vs buy?
How long you stay, how fast values and rents rise, and how much your savings earn. Try different numbers under More options.