The numbers behind your next move

Rent or buy in Ottawa? Run your own numbers.

Compare renting and buying an Ottawa condo with an interactive calculator for monthly costs, home equity, closing costs and invested savings.

By Steve Peippo, REALTOR® · November 10, 2026

Is your next Ottawa condo a place to rent, or a place to own? Comparing rent to a mortgage payment only tells part of the story. Put both options on the same footing, then see how time, ownership costs and investing the difference change the picture.

Ottawa resale homes · Canadian dollars · No sign-up needed

Make the comparison yours.

The starting numbers are an illustration, not Ottawa market averages. Replace them with a property and rental you would actually consider.

Purchase price ($)Comparable monthly rent ($)Use a similar unit, parking and location.Down payment (%)Mortgage interest rate (%)Illustrative rate, not a mortgage quote.Amortization (years)Compare over (years)

Ownership costs & closing costs

Monthly condo fees ($)Enter 0 for a freehold home.Annual property tax ($)Use the actual property tax bill.Owner insurance / month ($)Maintenance reserve / month ($)Repairs inside the unit, beyond condo fees.Extra owner utilities / month ($)Only costs above the rental equivalent; compare inclusions.Tenant insurance / month ($)Other buying costs ($)Legal, inspection, adjustments and other one-time costs; excludes land transfer tax and insurance premium tax.Total selling costs (%)Assumed all-in cost including fees, applicable tax and legal costs. Negotiable; not a quoted commission.

Apply the maximum Ontario first-time buyer land transfer tax refund (up to $4,000). Select only if you qualify for the full refund.

Growth & investment assumptions

Annual home price change (%)An assumption, not a forecast. Try 0% or a decline.Annual investment return (%)After investment fees and tax; not guaranteed.Annual rent increase (%)Scenario input, not a legal rent guideline.Annual ownership cost increase (%)Also applies to tenant insurance; mortgage payment stays fixed.

Results update as you edit. Your calculator inputs stay in this page and are not sent to Steve or saved by the calculator.

Rent is an expense. A mortgage is part expense, part equity.

A mortgage payment includes interest and repayment of the loan. Paying down principal increases your equity, but property tax, condo fees, insurance, repairs and transaction costs still affect the comparison. This calculator tracks the outstanding mortgage and deducts estimated selling costs from the future home value.

Renting can leave more cash available to invest. The model starts the renter with the same cash the buyer would need for the down payment and closing costs. Each month, whichever option costs less invests the difference. Both sides therefore use the same starting resources and monthly budget. The investment result depends on actually saving that money.

For Ottawa condos, compare the details.

A $550 condo fee and a $350 condo fee may pay for different things. Check heat, water, parking, amenities and the corporation’s responsibilities. Use the maintenance reserve for costs beyond the fee, such as repairs inside your suite. Known special assessments need to be budgeted separately.

For a fair comparison, choose a rental and purchase with similar space, parking, location and utility inclusions. Then use the building’s actual condo fee, tax bill and an insurance quote. Browse Ottawa condo listings and building guides to build that shortlist.

Try three versions before deciding.

A shorter stay. Compare three years with ten. Buying and selling costs can matter much more when you move soon.
A flat property market. Set home price change to 0%, then test a decline. A useful decision should not depend entirely on rising prices.
A different mortgage rate. Increase the rate and recalculate. The calculator holds it constant, so run a separate scenario to understand renewal risk.

The financially stronger result is only one part of the decision. Flexibility, control over your home, stability and the ability to handle unexpected costs all deserve space in the conversation.

How the numbers work

Monthly mortgage payments use a Canadian fixed-rate convention: nominal annual interest compounded semi-annually, with monthly payments. The entered rate remains unchanged for the entire comparison, rather than resetting at renewal. Investment returns compound monthly at the equivalent annual return, with savings invested at month-end. Rent and other recurring costs rise once a year at the entered rates.

Ontario land transfer tax is calculated automatically. The optional first-time buyer refund is capped at $4,000 and assumes full eligibility. For down payments below 20%, the model uses standard CMHC premiums of 2.8%, 3.1% or 4%, adds the premium to the mortgage and includes 8% Ontario tax on that premium in cash needed at closing. It supports insured amortizations up to 25 years and minimum down payment rules for homes below $1.5 million; purchases at or above that price require 20% down in this model.

Buying wealth equals estimated home value, less selling costs and the remaining mortgage, plus any invested monthly savings. Renting wealth is the investment portfolio. The chart includes a hypothetical sale at each year-end; the first year buying is ahead is not a guarantee it stays ahead.

This educational estimate is not a mortgage approval or personalized financial advice. It models an owner-occupied resale home and assumes no capital gains tax on its sale. It excludes FHSA/RRSP benefits, investment account limits, moving costs, mortgage penalties or discharge fees, special assessments, new-build GST/HST, and other personal tax effects. Add known costs where appropriate and confirm financing, tax and legal details with qualified professionals.

Check the rules: FCAC down payments · CMHC premiums · Ontario land transfer tax · First-time buyer refund · Ontario insurance tax.