Rent or buy?
Compare what renting costs against owning the same home over the years you plan to stay, including what you’d build in equity.
Rent vs. buy calculator
How to use it
Enter your rent, the price of a comparable home, your down payment, a rate and how many years you expect to stay. The calculator compares the cost of renting against the cost of owning over that time, including the equity you would build.
Reading the result
Owning costs more than the mortgage payment: property tax, insurance, maintenance and, in a condo, strata fees. Renting costs the rent, plus whatever you would have earned by investing the down payment instead. The years you stay matter most, because buying and selling both come with costs that only pay off over time. The calculator gives you a fair comparison. What it cannot know is how Penticton rents and prices move from here, so treat the result as a starting point and talk it through with me before you decide.
Keep reading: First-time home buyers
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