Syed Raza

Broker

Re/Max Realty One Inc, Brokerage

Independently owned and operated.

sha672@yahoo.ca

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Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision.

If Buying
Purchase Price of Home:	$
Downpayment:	$
Amortization Period:	years
Interest Rate:	%
CMHC Rate:	%
Buying Closing Cost:	$
Monthly Maintenance/Condo Fees:	$
Annual Property Taxes:	$
Annual Homeowners Insurance:	$
Home Appreciation Rate:	%
Years Before Selling:	years
Selling Costs (As percentage of price):	%
Inflation Rate:	%

If Renting
Monthly Rent:	$
Monthly Content Insurance:	$
Annual Rent Increase (by percentage):	%

Interest is compounded semi-annually not in advance. The Interest rate is fixed for the term of the mortgage. The interest rate is usually renegotiated at the end of the term of the mortgage. This calculator is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions. In this calculator Inflation Rate apply on property tax maintenance and condo fee and CMHC (mortgage insurance) amount added to Mortgage amount. Buying Closing Cost can contain Land Transfer Property Tax and Lawyer Costs. TMI stands for Tax, Maintenance and Insurance.