Monthly cost comparison · equity over time · free
Condo vs House Calculator Canada
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.
Educational calculators — always consult a licensed professional before making financial decisions.
Purchase price of the condo unit you're comparing.
Purchase price of the house you're comparing.
Monthly maintenance fee charged by the condo corporation. Typically $400–$900 in major Canadian cities.
Longer horizons favour houses due to greater appreciation potential.
Condo / Monthly
$3,927
incl. $650 condo fee
The house builds 185K more equity over 5 years despite higher monthly costs.
Full Cost Breakdown
| Condo | House | |
|---|---|---|
| Purchase price | $600,000 | $900,000 |
| Monthly mortgage | $2,927 | $4,391 |
| Monthly condo fee | $650 | — |
| Monthly property tax (est.) | $300 | $600 |
| Monthly maintenance (est.) | $50 | $1,125 |
| Total condo fees (5yr) | $39,000 | — |
| Total interest paid (5yr) | $123,661 | $185,492 |
Assumes 20% down, 5.49% rate, 25yr amortization, 3% condo / 4% house appreciation. Estimates only.
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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
What you'll get
- ✓Monthly cost comparison — Condo fees vs house maintenance side-by-side
- ✓Equity over time — Projected equity built for each option
- ✓Condo fee impact — How fees reduce your borrowing power
- ✓Wealth-building verdict — Which option builds more equity over 5–15 years
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.
Back to the calculator ↑Condo vs House Calculator Canada is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.