Rent or buy? See the real difference

The honest way to compare renting and buying

The old line that "rent is throwing money away" ignores half the picture. Owning has costs a renter never pays: property tax, maintenance, closing costs, mortgage interest, and the realtor fees when you sell. The fair question is not "which has a monthly payment" but which leaves you wealthier after the years you plan to stay, once you count home appreciation and the equity you build against what a renter could earn by investing the down payment instead.

What tips the answer

• How long you stay. Buying usually wins the longer you hold, because upfront and selling costs get spread over more years.
• Home appreciation vs investment returns. If markets outpace housing, renting and investing can come out ahead.
• The gap between rent and ownership costs. A big monthly gap, invested, adds up for the renter.

Thinking of buying? See what you qualify for with the pre-qualification calculator and what it would cost to close with the land transfer & closing cost calculator.

This is an estimate to guide the decision, not financial advice. Your real answer depends on your rate, market, and plans, which is exactly what we help you map out.