Mortgage
Monthly payment from price, down payment, rate and term. Equal or declining instalments.
Open a calculatorRent vs buy
The mortgage is the same annuity as the mortgage calculator. Owning also pays the monthly housing charge you enter. After the horizon the home is marked up by the growth rate and the remaining loan is subtracted. The renter is assumed to invest the down payment at the opportunity rate. Transaction tax, a renovation year and moving costs are not in the model. It is not a bank offer.
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Monthly cost of owning
4,311
Mortgage payment
3,511
Cash paid to own over the horizon
647,329
Cash paid in rent
420,000
Estimated equity after the horizon
470,487
Down payment if invested
211,756
Equity minus later owning costs
-46,843
Invested down payment minus rent
-208,244
Monthly cost of owning: 4,311
The horizon cannot be longer than the loan. Growth and the opportunity rate are guesses. A 2% property tax or a new roof will move the own-side number.
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An educational estimate. Not medical, tax or credit advice.