FINANCIAL TOOL
Rent vs. buy
Get a real answer with your real numbers. No sales pitch, just honest math comparing the true cost of renting versus buying in the GTA.
Buying
Renting
Buying looks better for you
Over 25 years, buying could save you approximately $1,382,634 compared to renting. You'd break even around year 1.
Monthly Mortgage (P&I)
$4,176
+ ~$1,319/mo carrying costs
Monthly Rent
$2,500
Growing at 3.5%/yr → $3,526/mo in 10 years
Down Payment
$170,000
Break-Even
Year 1
Equity at Year 10
$747,147
Net Cost Over Time
Net cost of buying = total payments minus equity built. Net cost of renting = total rent paid. When the green line drops below the orange line, buying becomes cheaper overall.
Want to talk through your options?
Every situation is different. A local agent can help you factor in neighbourhood-specific trends, upcoming developments, and financing options you might not have considered.
How We Calculate This
Buying Costs Include
- • Mortgage principal & interest
- • Property tax
- • Home insurance
- • Maintenance & repairs
- • Minus: equity buildup & appreciation
Renting Costs Include
- • Monthly rent payments
- • Annual rent increases
- • No equity buildup
- • No maintenance costs
- • Potential investment returns on savings
This calculator provides estimates for educational purposes only. Actual costs may vary based on your specific situation, location, and market conditions. Consult a financial advisor for personalized advice.
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