Rent vs. Buy Calculator

Does buying a home always make more sense than renting? Better understand both options with the help of the Rates.ca Rent vs. Buy Calculator
The decision on whether to rent or buy a property is a complex one and is dependent on a lot of different factors. The Rent vs. Buy Calculator is a very useful tool which can help you figure out the answer to this difficult question. Read More
By comparing the cost of owning a property with the cost of renting while taking into account other important variables such as the expected property appreciation, expected inflation, future sales commission on home sale and the after tax investment return on savings, the calculator will make a recommendation based on your unique circumstances. The recommendation will either be to rent or to purchase a property as long as you'd be able to hold on to it for a certain period of time before selling. In addition to recommending a course of action it will also provide you with a detailed report outlining the decision. Thinking of renting vs. buying? Let the Rent vs. Buy Calculator help guide you along the right path!
Option 1 - Buy
$
$
OR

Mortgage Insurance
$0
Total Mortgage
$0

Choose Rate
OR
%
Company
Rate
Select
Monthly Expenses
Mortgage Payment
$0

Estimate
OR
$
$
$
Total
$40
Inital Cash Required
Down Payment
$0.00
Land Transfer Tax
$0.00
$
$
$
$
$
Total
$1950.00
Other Fields
Per Year
%
%
Option 2 - Rent
$
Per Year
%
Per Year
%
Compare
Get Pre-Approved!
Rent Vs. Buy
Period
Mortgage Payment
Rent Payment
Net Savings
Home Equity
Net Home Equity
Disclaimer:
While the Rent vs. Buy Calculator is a way to help you figure out whether to rent or to buy, it should not be used as the only tool to help you reach your decision. You should always do your own research and consult with professionals prior to making this important decision. In addition, this calculator does not take into account whether you would get approved for a mortgage. To see if you're likely to qualify for a mortgage check out our Mortgage Affordability Calculator.
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