Interactive Tools
Rent vs. own calculator

The financial impact of buying with Lotly versus renting

$700,000

Rent: $2,600 per month

1+1 bed • 2 bath

Select

$900,000

Rent: $3,200 per month

2 bed • 2 bath

Select

$1,200,000

Rent: $4,000 per month

3 bed • 2 bath

Select
Your portion of the down payment
5% ($44,995)
How long will you live in this home?
7 years
Annual market appreciation rate
6%
Lightbulb icon to accentuate home appreciation fact
The pre covid 15 year average annual home appreciation rate is between 6-7% in southern Ontario.

Buying with Lotly will help you get $100,104 more than if you were to rent for 7 years.

Monthly cost of owning with Lotly
$4,684
Monthly cost of renting
$3,000
Savings from a lower rental payment
You can save $141,459 renting
Wealth gain from home ownership
You can gain $241,563 with Lotly
See below for detailed calculations
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Your up front cost is higher if you buy with Lotly.

Buy with Lotly
$56,113
Down payment
$44,950
Land transfer tax
$3,618
Other costs
$7,500
Total
$56,113
Rent
$0
Total
$0

Your monthly payments are lower if you rent.

Buy with Lotly
$4,684
Mortgage
$4,002
Property taxes
$312
Insurance
$120
Maintenance
$250
Total paid monthly
$4,684
Total paid while you live in the home
$300,113
Rent
$3,000
Rent
$3,000
Total paid monthly
$3,000
Total paid while you live in the home
$252,000

Over time, you are likely to build more wealth with Lotly because you keep what you pay down on the mortgage, and the home's price goes up.

Buy with Lotly
$286,558
Initial down payment
$44,950
Equity from mortgage
$128,259
Your piece of appreciation
$113,304
Upfront costs
-$56,113
Total gain from ownership
$286,558
Rent
$141,459
Money returned to you from rent
$0
Monthly savings
$1,684
Home price appreciation
$0
Upfront costs
$0
Total gain from renting
$141,459

Buying with Lotly may help you get $100,104 more than if you were to rent for 7 years.

Join today and get exclusive access to Lotly properties.