Calculator ยท Toronto & GTA costs built in
Put your rent beside the place you would buy. This counts what most calculators skip: two land transfer taxes going in, commission coming out, and what your down payment would earn if you kept renting and invested it.
Carrying costs are property tax, condo fees, insurance and upkeep. For a condo, the condo fee calculator gets you a realistic number.
Want this for a real area? I'll text you what $750K buys and what $2,800 rents in the area you pick, side by side.
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Land transfer tax and mortgage insurance rules checked September 17, 2026. Growth and return figures are assumptions, not forecasts. 25-year amortization; carrying costs rise 2.5% a year; selling costs 5% plus HST. This is an estimate to frame a decision, not financial advice.
If the numbers say buy, the next two steps are the pre-approval and a real look at closing costs. If they say rent, I can help with that too: see what is available this week.
It depends mostly on how long you will stay. Buying in Toronto costs roughly 3% to 4% of the price going in (two land transfer taxes and legal fees) and about 5.65% coming out (commission plus HST). Under about four years those costs usually beat any gain. Past five to seven years in a good building, paying down a mortgage tends to win. The calculator shows the break-even year for your numbers.
On the buying side: down payment, mortgage default insurance when the down payment is under 20%, Ontario and Toronto land transfer tax, legal fees, the mortgage payment, monthly carrying costs (property tax, condo fees, insurance, upkeep), appreciation, and 5% commission plus HST when you sell. On the renting side: rent rising each year, and the down payment and any monthly savings invested instead.
In the GTA the usual answer is five years or more. The calculator reports the first year in which the buyer's net worth passes the renter's. If that year is later than you expect to stay, renting is the cheaper choice for now.
For a Toronto condo, add the monthly condo fee, property tax (roughly 0.7% to 0.8% of the value per year, divided by 12), about $40 for insurance, and a little for repairs. A $650,000 one bedroom often lands near $1,000 to $1,200 a month. For a house, skip the condo fee and budget 1% of the value a year for upkeep.
It uses whatever yearly rent growth you enter. The default is the 2027 Ontario guideline of 1.9%. If your unit was first occupied after November 15, 2018 it is exempt and the rent can rise by any amount, so try a higher number.
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