BUYERS • RUN YOUR NUMBERS TO SEE
Rent vs. own: which is really more affordable?
Renting isn't failing. In fact, plenty of people should be renting right now. But you should know what it's costing you, and roughly when the math flips.
The house always wins. Make sure it's yours.
I sell real estate. You'd expect me to tell you renting is throwing money away. I won't, because it isn't that simple.
Renting buys you flexibility, no exposure to a special assessment, no responsibility for a furnace, and the ability to leave on sixty days' notice. Those are real benefits, and for a lot of people right now they're worth more than a bit of equity.
The one thing renting can never do is leave you owning something. Every payment is spent in full — none of it is kept. That's not a reason to buy tomorrow. It's just the fact worth considering while you decide.
Is renting more affordable than owning?
Most rent-vs-buy calculators are sales tools. This one counts condo fees, property tax, interest and rent increases — and it will tell you when renting is the better call.
Part of every mortgage payment is principal — you're moving money from your chequing account into your own equity. It leaves your bank, but it doesn't leave you. Only the interest is actually spent.
Disclaimer — estimates only. Uses standard Canadian mortgage math (semi-annual compounding), current CMHC premium tiers and published Ontario and Toronto land transfer tax rates. This is not a mortgage approval, a quote, or financial advice. Actual figures depend on your income, credit, lender, closing date and the specific property. Confirm everything with a licensed mortgage professional and a real estate lawyer before making an offer.
What I’d tell a friend
Run your own numbers. If the break-even growth rate comes out at a number that you can afford, then buying may be a good option. If not, there’s nothing wrong with renting.
I ran Lotto 6/49 for years. The people who got houses didn't get them from us. They got them by buying at a price the math supported and holding long enough for it to work.
Not sure which side you’re on?
That's a fifteen minute conversation, not a form. If the answer is keep renting, I'll say so.
Former 6/49 Draws Manager
I managed hundreds of millions in jackpots. I don’t believe in luck—just smart decisions.
$200M+ in Buyer Sales
Deep local expertise across buildings, markets, and price points.
Hundreds of Buyers Helped
First-time buyers to experienced investors. I’m here for the long game, not the quick sale.
Protecting Buyers, Not Selling
My job is to help you buy the right property—and walk away from the wrong one.
