Buy with the full picture
Know what your condo actually costs.
Estimate your real monthly ownership cost, upfront cash requirement and mortgage details before you buy an Ontario condo.
Step 1
Property & Mortgage
Enter the purchase and financing details.
Property location
First-time buyer for mortgage eligibility?
Eligible for the Ontario first-time buyer tax rebate?
Why are there two first-time buyer questions?
Mortgage eligibility and Ontario land transfer tax rebates use different first-time buyer rules. You may qualify for one without qualifying for the other.
Newly built condo?
Step 2
Monthly Condo Costs
Add recurring costs beyond your mortgage.
Step 3
Closing Cost Estimates
Editable estimates — replace these with quotes when known.
5-Year Ownership Outlook
Where could you stand after 5 years?
Explore how mortgage paydown and an assumed change in property value could affect your equity.
Estimated condo value
$552,040
Based on your appreciation assumption
Mortgage remaining
$410,631
After 60 monthly payments
Estimated equity
$141,410
Estimated value minus mortgage balance
Principal paid
$53,319
Mortgage balance you've paid down
Mortgage over 5 years
What does "equity" mean here?
Estimated equity is the assumed market value of the condo after five years minus the remaining mortgage. It is not the same as profit because buying, owning and eventually selling the property can involve additional costs.
Property appreciation is an assumption, not a prediction. Try different rates to see how the result changes.
5-Year Cost of Ownership
What does owning the condo actually cost?
This separates money that builds equity from costs that do not directly reduce your mortgage balance.
Mortgage Payments
$161,901
Total mortgage payments made over five years.
Principal Built
$53,319
Mortgage principal paid down and converted into home equity.
Ownership Cost
$118,873
Estimated five-year costs excluding down payment and mortgage principal.
Ownership cost breakdown
Purchase costs
Cost Breakdown
Where does the money go?
Share of your estimated five-year ownership cost by category.
Why isn't the down payment included?
Your down payment and mortgage principal reduce debt or create equity in the property, so they are separated from the estimated cost of ownership. This figure focuses on expenses that do not directly increase your home equity.
About These Estimates
Built around current Ontario and Canadian rules
Statutory calculations such as minimum down payment, mortgage insurance and land transfer taxes are based on current published rules. Legal fees, title insurance, utilities and other transaction costs are estimates that you can edit.
Rules last verified
September 2026
Official sources
This calculator provides estimates for educational and planning purposes and is not financial, legal, tax or mortgage advice. Actual costs, eligibility, rebates, lender requirements and transaction adjustments may differ. Confirm important figures with your lender, lawyer, municipality or other qualified professional before making a purchase decision.