Rent vs buy: is a Silverton townhouse worth it?

How to read the result

The calculator follows two versions of you for the same number of years.

The buyer pays the down payment, BC property transfer tax (less the first-time buyer exemption if you tick the box) and closing costs, then the mortgage and owner costs every month. At the end, the buyer sells: the home's value minus the remaining mortgage and selling costs is their wealth.

The renter invests the cash the buyer would have spent up front and, in any month where renting is cheaper, invests the difference too. At the end, the investment balance is their wealth. If owning is cheaper in a given month, the buyer invests the difference instead.

What usually tips it

• Time. Transfer tax and selling costs make buying for one or two years hard to justify. Over ten years, the math often changes.
• Price growth vs investment return. Small changes to either assumption swing the result a lot. Try a range.
• The lifestyle part. No calculator puts a value on a boat slip outside your door. If you rent a slip or trailer to the launch now, add those costs to your rent to compare fairly.

Things renters in Vernon often don't know

• A first-time buyer at or under $835,000 saves up to $8,000 in transfer tax. At Silverton's 2026 prices, that exemption can be worth having.
• You can buy with 5% down on the first $500,000 and 10% on the rest (about $55,000 on $800,000), though you'll pay for mortgage default insurance.
• Rentals are allowed at Silverton, so if your plans change you can rent the unit out long-term rather than sell.

Next: the full cost-of-ownership calculator and the buying guide.