Rent vs. buy calculator (Canada)
Most rent-vs-buy tools are built for the US — they assume mortgage interest is deductible and ignore land transfer tax. This one is Canadian: it models LTT by province, CMHC insurance, and what your down payment could earn if you invested it instead. It shows the numbers and the breakeven year — it doesn't pick a side. Recurna Flow shows the part that decides it: whether your cash flow can carry the monthly cost, week by week.
Rent vs. buy calculator
The honest Canadian picture — land transfer tax, CMHC insurance, and what your down payment could earn if you invested it instead. See the year buying breaks even with renting.
Buying breaks even with renting in year 4.
Monthly cost
- Rent
- $2,400
- Buy (all-in)
- $4,041
- Mortgage
- $3,024
- Property tax
- $350
- Maintenance
- $542
- Insurance
- $125
- Condo / strata
- $0
Up-front to buy
- Cash needed at closing
- $142,475
- Down payment
- $130,000
- Land transfer tax
- $9,475
- Closing costs (est.)
- $3,000
- CMHC insurance added to mortgage
- $0
No land transfer tax here — a title-transfer fee of about $0 applies (folded into closing costs).
No data to chart.
Recurna Flow
Rent or own, you have a monthly housing cost — and the part a calculator can't show is whether your week-by-week cash flow can carry it. That's what Recurna Flow forecasts.
Flow is in invite-only beta — apply once (reviewed weekly), and founding members get Pro free for a year.
Estimates only, not financial advice. CMHC premium tiers and land-transfer-tax schedules use 2025 data. Excludes selling costs, first-time-homebuyer rebates, and any PST on the CMHC premium. Provincial schedules apply; some municipalities (e.g. Montreal) levy a higher welcome tax than shown.
How this math works
Land transfer tax is charged by province on closing, and some cities add a municipal surcharge on top — Montreal's welcome tax runs higher than Quebec's provincial schedule alone, so buyers there should expect a bigger up-front bill than the provincial rate suggests. CMHC mortgage insurance applies whenever the down payment is under 20% of the home price; the premium is usually rolled into the mortgage, so it accrues interest for the whole amortization rather than being paid once. Renting isn't "throwing money away" — the cash that would otherwise sit in a down payment and closing costs can be invested instead, so this calculator credits renting with what that money could earn elsewhere. The break-even year is simply the year the cumulative cost of buying drops below the cumulative cost of renting given your inputs — before it, renting has cost less overall; after it, buying has. Selling costs, first-time-homebuyer rebates, and PST on the CMHC premium aren't included.
How much does land transfer tax add?
It varies by province and is charged on closing, on top of your down payment. Some cities layer on an extra municipal tax — Montreal's welcome tax is higher than the Quebec provincial schedule alone, and this calculator's disclaimer flags where local rates can exceed what's modelled.
When does CMHC mortgage insurance apply?
It's required whenever your down payment is less than 20% of the home price. The premium is a percentage of the mortgage amount that typically gets added to the loan itself, so it also accrues interest over the amortization.
Is renting "throwing money away"?
No — renting frees up the cash that would otherwise sit in a down payment, closing costs, and ongoing ownership costs. This calculator credits renting with what that money could earn elsewhere, so the comparison accounts for the opportunity cost on both sides.
What does the break-even year mean?
It's the year the cumulative cost of buying drops below the cumulative cost of renting, given the inputs you entered. Before that year, renting has cost you less overall; after it, buying has.
What ownership costs do people forget?
Selling costs, first-time-homebuyer rebates, and any PST on the CMHC premium aren't part of this calculator's math — only the recurring mortgage, insurance, and up-front tax costs shown.