Calculator
Rent vs buy (5 years)
Owning trades cash flow for equity. This tool shows both — what you'd spend, and what you'd build.
If you buy
If you rent
Equity after 5 years (buy)
$385,537
Home worth $985,383 − $599,846 owing
Total rent over 5 years
$178,387
Escalating 3% / yr
Net cost of owning
$83,404
After principal paid & appreciation
Interest paid
$152,287
First 5 years, the interest-heavy stretch
Monthly payment: $3,874. This model assumes you stay put 5 years; selling costs (realtor + legal ~5%) would apply if you moved. Renting frees cash for TFSA/RRSP — that's the honest counterweight.
Scenario only — not a pre-approval. Real rates depend on lender, credit, and property.