Renter tools

Should I rent or buy?

Compare owner and renter net worth over your timeline, using Canadian mortgage math, carrying costs, home appreciation and reinvested savings.

The property

Home price$

Province

Down payment20% · $100,000

Mortgage rate (%)

Amortization

Renting and timeline

Initial rent ($/month)

Time horizon

Invest return (%/yr)

Rent increase (%/yr)

Home appreciation (%/yr)

Mortgage mechanics

Term (yrs)

Renewal rate (%)

Payment mode

Extra prepay ($/mo)

CMHC PST rate (%)

Ongoing costs

Property tax (%/yr)

Maintenance (%/yr)

Condo / HOA ($/mo)

Owner insurance and utilities extra ($/mo)

Reno reserve (%/yr)

One-time reno ($)

Transaction and macro

Buyer closing (%)

Seller costs (%)

Invest fees / MER (%)

Account tax drag (%)

Inflation (%/yr)

Renter insurance ($/mo)

Renting comes out ahead by $16,284 after 10 years

Owner net worth

$340.6K

Home equity$340.6K

Renter net worth

$356.9K

Invested portfolio$356.9K

Monthly cost of owning$3,260

Monthly rent$2,200

Break-even appreciation3.29% / yr

Net worth over time

OwnerRenter

Illustrative only. Not financial advice.