For All Your Real Estate Needs in Downtown Toronto, The Beaches, Etobicoke, Rosedale / Moore Park, Vaughan, Aurora, and the GTA
Vincent Giaquinto | Real Estate Sales Representative Serving 
Downtown Toronto, The Beaches, Etobicoke, Rosedale / Moore Park, Vaughan, Aurora, and the GTA | Royal LePage Real Estate Professionals, Brokerage

Rental Comparison

We have assembled some tables to allow you to gauge the possibility of purchasing instead of renting.  The information is to be used as a guideline only, please send us a message for more specific information.

If it is at all possible to purchase, you will see that it pays to put the money in your pocket instead of your landlords.  Please have a look at the tables below:  

How Much Rent Do You Pay?
Monthly Rent After 3 Years After 4 Years After 5 Years After 6 Years
$500.00 $18,000 $24,000 $30,000 $36,000
$600.00 $21,600 $28,800 $36,000 $43,200
$700.00 $25,200 $33,600 $42,000 $50,400
$800.00 $28,800 $38,400 $48,000 $57,600
$900.00 $32,400 $43,200 $54,000 $64,800
$1,000.00 $36,000 $48,000 $60,000 $72,000


Comparison of Rental Income vs. Mortgage Payments
Rent Payment Mortgage Payment Mortgage Required Down Payment Required Purchase Price Income Required
$500 $500 $69,840 $3,586 $71,723 $21,552
$600 $600 $83,808 $4,303 $86,068 $25,862
$700 $700 $97,776 $5,021 $100,412 $30,172
$800 $800 $111,745 $5,738 $114,757 $34,483
$900 $900 $125,713 $6,455 $129,102 $38,793
$1,000 $1,000 $139,681 $7,172 $143,446 $43,103
$1,100 $1,100 $153,649 $7,890 $157,791 $47,414
$1,200 $1,200 $167,617 $8,607 $172,135 $51,724
$1,300 $1,300 $181,585 $9,324 $186,480 $56,034
This Illustration Is Based on a Five Year Interest Rate of:  7.250%
The annual taxes are assumed to be 1.25% of the purchase price.
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