Under your rent
13
$150,000
LT 24 Harrison Way
Gabriola Island · Vacant Land
~$711/mo
Listed by Royal LePage Nanaimo Realty GabriolaMLS® 1034232
Rent vs own
What your rent could own in Gabriola Island.
Enter your rent to see the home price it could cover and homes listed at that price.
- A $2,500 rent carries
- $527,000
- Median asking
- $664,900
- Homes at or under it
- 21
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$527,000
20% down assumed ($105,000). 21 homes listed at or under it in Gabriola Island.
Of the first payment, about $694 goes to the loan itself. Tax, strata and insurance would bring the all-in price closer to $414,000.
- A $2,500 rent carries
- $527,000
- Median asking
- $664,900
- Homes at or under it
- 21
Source: Current MLS® listings.
What each rent buys
In Gabriola Island, a $2,500 rent carries the mortgage on a home priced around $527,000. That is $137,900 under Gabriola Island's $664,900 median home price. 21 homes are listed at or under it. Figures use 5.19% over 25 years with 20% down.
Gabriola Island homes around a $2,500 rent
21 active listings
Under your rent
19
$515,000
$465/sqft
1 bd · 2 ba · 1,108 sqft
948 Harrison Way
Gabriola Island · Single Family
~$2,441/mo
Listed by Royal LePage Nanaimo Realty GabriolaMLS® 1034104
Under your rent
38
$355,000
1040 McClay Way
Gabriola Island · Vacant Land
~$1,683/mo
Listed by Royal LePage Nanaimo Realty (NanIsHwyN)MLS® 1031143
Under your rent
6
$499,000
1840 Seymour Road
Gabriola Island · Land
~$2,365/mo
Listed by Team 3000 Realty Ltd.MLS® R3109971
Under your rent
12
$224,900
1108 Pat Burns Avenue
Gabriola Island · Vacant Land
~$1,066/mo
Listed by Real BrokerMLS® 1041343
Under your rent
15
$199,000
Lot 14 Ross Way
Gabriola Island · Vacant Land
~$943/mo
Listed by Real BrokerMLS® 1032618
Under your rent
3
$499,000
1840 Seymour Road
Gabriola Island · Vacant Land
~$2,365/mo
Listed by Team 3000 Realty Ltd.MLS® 1031885
Under your rent
40
$455,900
$445/sqft
2 bd · 1 ba · 1,024 sqft
291 Jolly Close
Gabriola Island · Single Family
~$2,161/mo
Listed by Royal LePage Nanaimo Realty (NanIsHwyN)MLS® 1050660
Under your rent
14
$515,000
$740/sqft
1 bd · 1 ba · 696 sqft
871 Sharie Road
Gabriola Island · Single Family
~$2,441/mo
Listed by Royal LePage Nanaimo Realty (NanIsHwyN)MLS® 1049566
Under your rent
30
$450,000
$488/sqft
2 bd · 1 ba · 923 sqft
925 Carmen Crescent
Gabriola Island · Single Family
~$2,133/mo
Listed by Royal LePage Nanaimo Realty (NanIsHwyN)MLS® 1048227
Under your rent
13
$329,900
323 Davis Road
Gabriola Island · Vacant Land
~$1,564/mo
Listed by Royal LePage Nanaimo Realty GabriolaMLS® 1048176
Under your rent
16
$478,000
$453/sqft
2 bd · 2 ba · 1,056 sqft
1087 Chappel Place
Gabriola Island · Single Family
~$2,266/mo
Listed by Royal LePage Nanaimo Realty GabriolaMLS® 1044390
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
Renting or owning: what changes
One-time costs
Buying adds transfer tax, legal fees and an inspection, paid on closing.
Monthly costs past the mortgage
Property tax, strata and insurance are on top of the mortgage. Compare the total with your rent.
Flexibility
A lease is easier to leave. Owning suits staying put for some years.
To see the year owning starts to cost less than renting, try rent or buy.
Assumptions
- Rate
- 5.19%, the posted five-year fixed rate. Illustrative, not a quote.
- Amortization
- 25 years
- Down payment
- 20% ($105,000 on $527,000)
- Property tax
- 3.50 per $1,000 of value
- Strata
- $320 a month, an estimate
- Insurance
- $62 a month, an estimate
An estimate, not a mortgage approval or financial advice. Change the rate, down payment or amortization in the calculator and the figures update.
More ways to explore Gabriola Island
Listings and market data for Gabriola Island.
Nearby cities
Compare Gabriola Island with other markets in the region.
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
CorrectionsReport a correction
A mortgage broker can confirm what you qualify for.