Rent vs Buy Calculator (Canada)

    Compare the long-term financial impact of renting versus buying a home.

    $
    $100,000$2,000,000

    Price of home you would buy

    $
    $10,000$500,000

    Your available down payment

    %
    2%10%

    Expected mortgage interest rate

    $
    $500$5,000

    Current or expected rent

    %
    0%10%

    Expected yearly rent increase

    %
    0%10%

    Expected annual home value increase

    years
    5 years30 years

    Time horizon for comparison

    Buying Advantage (Net)

    $140,290.17

    Total Rent Cost

    $275,133.1

    Home Equity Built

    $376,260.29

    Monthly Ownership Cost

    $3,321.69

    Future Home Value

    $671,958.19

    Total Rent Cost$275,133.1
    Home Equity Built$376,260.29
    Monthly Ownership Cost$3,321.69
    Future Home Value$671,958.19

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    Rate source: Bank of Canada / CMHC
    Data from Official Sources:CMHC•StatsCan