Condo vs House Calculator Canada — Real Cost Comparison
Condos cost less upfront — but monthly condo fees, slower appreciation, and special assessments change the long-term picture. Compare total monthly costs and projected equity for both options side-by-side with 2026 Canadian market data.
What you'll need
- Condo purchase price and monthly condo fee
- House purchase price you're comparing
- How many years you plan to hold the property
How it works
Enter condo and house prices
Input the purchase price of the condo you're comparing (with its monthly condo fee) against the house.
Choose your comparison horizon
Select 5, 10, or 15 years. Longer horizons typically favour houses due to greater appreciation potential and no condo fees.
See full monthly cost and equity comparison
We calculate total monthly cost (mortgage + condo fee + property tax + maintenance), projected equity at your chosen horizon, and which option builds more wealth.
Condo ($650K, $650/mo fee) vs House ($950K) — 10-Year Comparison at 5.49%, 20% Down
| Item | Condo | House |
|---|---|---|
| Monthly mortgage | $3,110 | $4,540 |
| Monthly condo fee | $650 | — |
| Monthly property tax (est.) | $325 | $633 |
| Monthly maintenance (est.) | $54 | $1,188 |
| Total monthly | $4,139 | $6,361 |
| Projected equity (10yr) | $498,000 | $775,000 |
| Total condo fees paid (10yr) | $78,000 | — |
Houses have higher monthly costs but typically build substantially more equity over 10+ years due to greater appreciation and no condo fees.
Frequently asked questions
Is buying a condo or house better in Canada?
It depends on your budget, lifestyle, and city. Condos are typically cheaper to purchase in major cities but carry monthly condo fees ($400–$900+). Houses have higher maintenance costs but often appreciate faster and don't have condo fees. Over 10 years, houses typically build more equity — but the condo may be the only affordable option in cities like Toronto or Vancouver.
How do condo fees affect affordability in Canada?
Condo fees directly reduce your borrowing power. Lenders count 50–100% of monthly condo fees in your TDS (Total Debt Service) ratio. A $700/month fee is equivalent to adding roughly $140,000–$175,000 in mortgage debt for qualification purposes. Factor fees into your total monthly cost comparison carefully.
Do condos appreciate as fast as houses in Canada?
Historically, detached houses have outperformed condos in appreciation in most Canadian cities. From 2010–2023, detached homes in Toronto appreciated at ~7–8% annually vs ~5–6% for condos. However, in 2022–2024, condo prices softened more than houses. Future performance depends on supply, demand, and policy changes.
What are hidden costs of condo ownership in Canada?
Beyond the monthly condo fee: special assessments (one-time levies for major repairs), parking and locker fees, in-suite maintenance still falls to owners, status certificate review ($100–$250), and potential fee increases as buildings age. Review the condo corporation's reserve fund study before purchasing.
See which option builds more wealth for your situation.
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