Lifetime Cost Calculator

Assumptions

Default data is for demonstration purposes, you can edit these assumptions to reflect your own situation to compare the true costs of Buying A New Home, A Resale Home and Renting.

New Home Price :

New Home Down Payment :

Planned Secondary Suite
or Backyard Suite :

Monthly Rental Income :

Resale Home Price :
(Current Market Value)

Resale Home Down Payment :

  • What is the Minimum Down Payment needed for a house in Canada?
    Home price up to $500,000 requires 5%
    Home price between $500,000 and $999,999 requires 5% of the first $500,000 + 10% of the remaining amount
    Home price $1,000,000 or more requires 20%

Planned Remodelling Estimate :

    • Enter your anticipated remodeling estimate to update the resale home to your expectations.
    • For the purposes of this calculation, the Planned Remodelling estimate is NOT included in mortgage details or the cost to finance the Planned Remodelling Estimate.

Planned Secondary Suite
or Backyard Suite :

Monthly Rental Income :

Monthly Rent :

  • Enter your total monthly rent for comparison.

1. Appreciation Rate:

% / yr
  • This percentage anticipates the increase in the value of a home over time. There are many factors that can affect appreciation rates, including location, condition, amenities, supply and demand, inflation, interest rates and the economy.

2. Holding Period:

Years
  • The holding period is the length of time you own the property before you sell it. If you hold property for a year or less, short-term capital gain or loss rules apply. Inf you hold property for more than a year, long-term capital gain or loss rules apply.

3. Rent Increase:

% / yr
  • Rental price increases were estimated to be 2% to 4% in 2024. Actual increases were much higher. March 2024 was 17.6% higher than March 2023, while May 2024 was 22% higher than from previous year.

4. Interest Rate:

%
  • The average interest rate in Canada from 1990 to 2024 is 5.77%.

5. Amortization Period:

Years
  • Amortization period refers to the time period it will take to repay a mortgage in full. Because mortgage lenders charge interest on mortgage loans, the longer it takes to pay off a mortgage, the more interest one pays.

6. Resale Home Age:

Years
  • For the purpose of this calculation, it is assumed that the resale home is ten years old. This affects which and when renovations will occur.
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