“Rent is throwing money away” skips the math. This tool runs the honest version: it charges the buyer Ontario land transfer tax, CMHC insurance, and the real interest cost of a Canadian semi-annually compounded mortgage, then assumes the renter invests every dollar they save. You get the year-by-year net equity vs. invested portfolio, the crossover year, and how fast the answer flips when appreciation or returns move by a single point.
This tool is for illustration purposes only and does not constitute financial or tax advice. It assumes a constant mortgage rate held for the full amortization (real Canadian mortgages renew each term at unknown future rates), a constant investment return with no market volatility, an Ontario resident, and equal monthly housing outlay between the two paths. Land transfer, CMHC, and TFSA schedules are 2026 and must be re-verified. Actual results will vary. Consult a qualified professional before making decisions.