Rent vs Buy Calculator

Compare the true cost of renting versus buying a home in Canada.

Buying

Home Price

Down Payment

Mortgage Rate (%)

Annual Property Tax

Annual Maintenance

Home Appreciation (%/yr)

Renting

Monthly Rent

Annual Rent Increase (%)

Investment Return (%/yr)

Time Period (years)

Cumulative Cost Comparison

Better Financial Choice

Buy

$79,575.94 better off after 10 years

Buying: Equity

$451,512.34

Renting: Investments

$371,936.41

Cost Comparison Milestones

Break-even YearYear 29

Monthly Mortgage$2,806.03

Diff at 5yrRent saves $183k

Diff at 10yrRent saves $207k

Diff at 20yrRent saves $161k

Total Interest$211,561.35

Buying Details

Home Value (10yr)$806,349.83

Total Cost$550,723.86

Renting Details

Total Rent$343,916.38

Investment Value$371,936.41

Budget for Your Housing Decision

Whether you rent or buy, Waypoint Budget helps you manage your housing costs and savings.

Start Budgeting Free

Related Calculators

Mortgage Affordability

See how much mortgage you can afford

Down Payment Calculator

Calculate how much to save for a down payment

Net Worth Calculator

Calculate your total net worth

Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on simplified assumptions and may not reflect your actual situation. Tax laws, contribution limits, and regulations change frequently. Always consult a qualified financial advisor or tax professional before making financial decisions. See our Terms of Service for full details.