Is it cheaper to rent or buy?

It depends on prices, rates, and how long you stay. Owning often costs more monthly but builds equity; renting is cheaper short-term and avoids maintenance.

How long should I plan to own?

Because of closing and selling costs, buying usually pays off only if you stay at least 3–5 years.

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Rent vs. Buy Calculator

Compare monthly cost of renting and owning.

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Monthly rent (CAD) ($)Home price (CAD) ($)Down payment (CAD) ($)Interest rate (%)

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How to use this calculator

Enter your current or expected rent.
Enter the home price, down payment, and rate.
Compare the monthly cost of each.

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Frequently asked questions

Is it cheaper to rent or buy?: It depends on prices, rates, and how long you stay. Owning often costs more monthly but builds equity; renting is cheaper short-term and avoids maintenance.
How long should I plan to own?: Because of closing and selling costs, buying usually pays off only if you stay at least 3–5 years.