Rent or buy in Kelowna? This calculator runs the honest version: a net-worth race between owning and renting-while-investing, with closing costs, maintenance, and selling fees all counted.
Frequently asked questions
Is renting really throwing money away?
No, and this calculator doesn’t assume it is. Renting buys flexibility and spares you property tax, maintenance and mortgage interest. Buying converts payments into equity and locks your housing cost. The honest comparison tracks both net worths over time, including what a renter could earn investing the difference.
What matters most in the result?
Time. Under about three years, buying rarely wins once transfer tax and selling costs are counted. Past five, ownership usually pulls ahead in the Okanagan. The crossover year in your result is the number worth staring at.
What should I assume for appreciation?
You set it, so run it twice. If buying only wins with generous appreciation, that tells you something. If it wins at zero, that tells you more.