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Rent vs Buy Calculator

***Note: Over the past 5 years, the average monthly rental price has gone up by $250 for a two bedroom condo in Square One; this translates into an average rental price increase of 3.5% per year. 
Over the same 5 year period, home owners experienced a 40% appreciation in the value of thier homes; this translates into an avargae of 8% increase in property value per year.
Over a five year span, frist time buyers paying a $2000 monthly mortage, put away approximatley $47,000 in home equity.

If Renting If Buying
Monthly Payment $2,000.00 $1,960.57
Insurance / Taxes $30.00 $216.67
Total Monthly Payment $2,030.00 $2,177.24
Total Rent / Mortgage Payments Over 7-years Years $186,705.78 $182,887.88
Long Term Benefits of Home Ownership
Savings Through Purchasing a Home $3,817.90
Home Value at Expected Selling Date $714,093.45

Recomended Inputs:

Annual Rent Increase: 3.5%
Interest Rate: 3%
Appreciation Rate: 8%


Contact me to find out about owning a home with as little as 5% downpayment, or about increasing your credit score by up to 100 point in just one month.

Michael Czan
Real Estate Sales Representative

Sutton Group Realty Systems Inc.
Independently owned and operated

1528 Dundas St. West, Mississauga, Ontario L5C 1E4

Mobile: 647-889-5020  Phone: 905-896-3333  Fax: 416-317-3435
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