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rent vs buy
Rent or buy in Toronto right now?
On a 1BR in central Toronto: rent runs $2,200–$2,600; buying a comparable unit at $700K with 20% down costs $3,400–$3,800/month all-in (mortgage + tax + maintenance). Buying wins long-term ONLY if you stay 7+ years and the unit appreciates 2%+ annually. Renting wins if you might move, change jobs, or want flexibility.
What your bank didn’t say
Real-estate websites push the "renting is throwing money away" line. Math: at current rates, the gap between rent and own costs you $1,000–$1,500/month — over 5 years that is $60K–$90K. If you invest that gap at 6%, you have $80K–$110K. Owning beats renting only when appreciation outpaces that.
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PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.