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

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$900,000

Rent: $3,200 per month

2 bed • 2 bath

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$1,200,000

Rent: $4,000 per month

3 bed • 2 bath

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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 earn $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 homeownership
You can gain $241,563 with Lotly
See below for detailed calculations
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Your up front cost is higher when 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 when 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 value increases.

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 could help you get $100,104 more than if you were to rent for 7 years.