Ontario
Buy vs rent in London
A buy vs rent calculator preset for London: Ontario’s closing-cost rules are built in, and the starting inputs are rounded planning values you can replace.
Starting inputs ($560,000 home, $1,900 rent, 1.3% property tax) are planning figures, not a market report. Replace them with current listings, rental ads and the property’s tax bill.
Buy vs rent in London at a glance
On the starting inputs, buying does not overtake renting within 40 years. After ten years, renting and investing finishes ahead by about $75,619.
| Years you stay | Finishes ahead | By about |
|---|---|---|
| 3 | Renting | $49,587 |
| 5 | Renting | $50,801 |
| 10 | Renting | $75,619 |
| 15 | Renting | $120,338 |
What to check in London
- Property tax is a bigger share of value than in many western cities, so use the actual bill when you test buy vs rent.
- Ontario land transfer tax applies; first-time buyer rebates may reduce it.
- Student and shared-rental demand can affect both rents and resale prospects near campuses.
Ontario closing costs
Ontario land transfer tax is tiered. Toronto adds a municipal land transfer tax. First-time buyer rebates are available.
Questions people ask
Is it better to buy or rent in London?
It depends on how long you stay and what prices, rents and returns do. With the starting inputs on this page (a $560,000 home and $1,900 rent), buying does not overtake renting within 40 years. Replace the inputs with current listings and rental ads for your own answer.
How much are closing costs when buying in London?
On the starting inputs, estimated closing costs are about $11,775, including $7,675 of transfer tax and registration fees. Ontario land transfer tax is tiered. Toronto adds a municipal land transfer tax. First-time buyer rebates are available.
What property tax rate does the London calculator use?
1.3% of the home’s value per year, a rounded planning figure. Use the property’s actual tax bill when you have it.
Nearby buy vs rent pages
Educational illustration; not advice.