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Iris Li, B.A.
Sales Representative RE/MAX Goldenway Realty Inc. Brokerage Independently owned and operated. Call/Txt: 416.505.8023 |
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Toronto Condos Rent vs Buy Calculator
| Rent Vs. Buying Comparison | ||
| If Renting | If Buying | |
| Monthly Payment | $10,000.00 | $2,267.72 |
| Insurance / Taxes | $20.00 | $1,106.67 |
| Total Monthly Payment | $10,020.00 | $3,374.39 |
| Total Rent / Mortgage Payments Over 5 Years | $630,759.42 | $202,463.20 |
| Savings Through Purchasing a Home | $428,296.22 | |
| Long Term Benefits of Home Ownership | |
| Home Value at Expected Selling Date | $500,000.00 |
| Less Down Payment | $25,000.00 |
| Less Loan Balance | $417,827.30 |
| Less Selling Costs | $28,250.00 |
| Total Home Gain | $457,218.92 |
