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A fairer housing comparison

Rent vs buy: follow the full picture.

Compare monthly affordability, housing costs and projected wealth—not just rent against a mortgage payment. Both paths start with the same cash and invest any monthly savings.

Start with your own figures. Prefilled amounts are examples, not local prices or financial advice. Review insurance, utilities, taxes and transaction costs before relying on a scenario.
1. Home and mortgage

A fixed-rate, monthly-payment mortgage. Rates are scenarios, not live lender quotes.

1–30 years. This tool limits insured mortgages to 25 years.

At the end of this term, payments are recalculated over the remaining amortization.

Held constant for all remaining years; not a forecast.

2. Ongoing buying costs

Use the actual property tax bill and insurance quotes. Include only costs not already covered by condo fees.

Include a realistic repair reserve. Do not duplicate maintenance covered by condo fees.

Total out-of-pocket heat, power, water/waste and internet. Exclude anything covered by condo fees.

3. Renting costs

Compare a rental you would actually choose. Enter zero for utilities or parking included in the rent.

Heat, power, water/waste and internet paid separately from rent.

Your scenario, not a statement of provincial rent rules or a guaranteed increase.

4. Upfront and selling costs

These are editable dollar estimates, not province-specific quotes. Model a sale at the end to compare accessible wealth fairly.

Include land transfer tax after applicable rebates, legal/title costs, inspection and applicable purchase taxes. Exclude down payment and avoid double-counting prepaid annual costs.

Only if applicable. Held without interest and returned at the comparison end. Not advance rent and not treated as an expense.

Enter any applicable provincial tax on the premium (ON, QC, SK); confirm the amount with your lender. Not financed. Default 0 must be reviewed.

Commission and related sales taxes; confirm a local quote.

Legal/discharge costs and any estimated mortgage break penalty. Assumed dollars at the future sale date.

5. Time and growth assumptions

All growth assumptions are adjustable—not predictions. Investment returns should be after fees and tax.

May be negative. Assumes an eligible principal residence unless you add a rental sale-tax allowance below.

Applies equally to both sides. Cash is invested at the start; monthly savings at month-end.

Applies to property taxes, insurance, maintenance, utilities, condo fees and parking on both sides.

6. Will this home generate income?

Optional income from part of the home you live in—not a dedicated investment property. Defaults are examples, not earnings estimates.

What this model does—and doesn’t—assume

  • Monthly fixed-rate payments use Canadian semi-annual compounding. The rate changes once at your first renewal; remaining amortization is preserved. Payments stop when the mortgage is paid off. Calculations retain full precision; lender rounding and contract terms can differ.
  • Standard owner-occupied mortgage-insurance tiers are estimated for down payments below 20%, using traditional down-payment funds. The premium is financed; applicable sales tax is an editable cash cost. This is not an eligibility or mortgage approval assessment.
  • Rent and other expenses increase annually at your chosen rates. Investment growth compounds monthly using your after-tax/fee annual return; market volatility and tax-account limits are not simulated.
  • Amounts are nominal, not adjusted for purchasing power. Assumes an eligible principal residence; rental use may change tax treatment. Only your entered rental sale-tax allowance is deducted, not a calculated capital-gains tax. FHSA/HBP benefits, refinancing, accelerated payments and future relocations are not automatically modelled.
  • Rental income uses occupied months or booked nights, averaged monthly. Fixed rental costs and the tax reserve increase with expense inflation; fees track gross revenue. Setup costs are paid upfront without assumed resale uplift. Non-recoverable costs include rental expenses and tax reserves but do not subtract revenue. No rental losses generate automatic tax refunds. Read the CRA rental income guide and short-term rental compliance guidance.
  • Transaction fees, local taxes/rebates and insurance must be checked against actual quotes. Non-financial factors—stability, flexibility, location and repair responsibility—matter too.

Methodology sources: CMHC premium tiers · Canadian down-payment guidance · Fixed mortgage compounding example. Rules checked October 2, 2026.