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

$79,576 better off after 10 years

Buying: Equity

$451,512

Renting: Investments

$371,936

Cost Comparison Milestones

Break-even YearYear 29

Monthly Mortgage$2,806

Diff at 5yrRent saves $183k

Diff at 10yrRent saves $207k

Diff at 20yrRent saves $161k

Total Interest$211,561

Buying Details

Home Value (10yr)$806,350

Total Cost$550,724

Renting Details

Total Rent$343,916

Investment Value$371,936

Budget for Your Housing Decision

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

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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.