Under your rent
45
$239,900
~$1,137/mo
i#8 – 720 Commonwealth Road
Lake Country · Residential
3 bd
1 ba
1,207 sqft
$199/sqft
Built 1982
MLS® 10388442
REMAX Kelowna
Rent vs mortgage
$1,500 a month in rent buys a $316,000 home in Lake Country
That is what a 1500-a-month rent carries as a mortgage at 5.19%, with 20% down over a 25-year amortization. Covering property tax, strata and insurance inside the same monthly budget, the matching price is about $209,000. Here are the 9 Lake Country homes on the market at or under it right now.
Purchase price
$316,000
Down payment
$63,000
All-in monthly
$2,011/mo
Matching homes
9
Lake Country homes your $1,500 rent could own
Under your rent
64
$198,000
~$938/mo
i#139 – 9020 JIM BAILEY Road
Lake Country · Residential
3 bd
1 ba
1,170 sqft
$169/sqft
Built 1993
MLS® 10392051
Real Broker B.C. Ltd
Under your rent
29
$250,000
~$1,185/mo
i#27A – 12022 Pretty Road
Lake Country · Residential
3 bd
2 ba
1,152 sqft
$217/sqft
Built 2005
MLS® 10382644
Sotheby's International Realty Canada
Under your rent
32
$169,000
~$801/mo
i#54 – 9020 Jim Bailey Road
Lake Country · Residential
3 bd
1 ba
1,100 sqft
$154/sqft
Built 1974
MLS® 10392485
Coldwell Banker Horizon Realty
Under your rent
35
$199,900
~$947/mo
i#298 – 415 Commonwealth Road
Lake Country · Residential
1 bd
1 ba
528 sqft
$379/sqft
Built 2006
MLS® 10385191
REMAX Kelowna
Under your rent
56
$234,000
~$1,109/mo
i#16 – 12022 Pretty Road
Lake Country · Residential
2 bd
1 ba
946 sqft
$247/sqft
Built 1973
MLS® 10384730
Century 21 Assurance Realty Ltd
Under your rent
25
$249,900
~$1,184/mo
i#14 – 12022 PRETTY Road
Lake Country · Residential
2 bd
2 ba
938 sqft
$266/sqft
Built 1992
MLS® 10388453
Royal LePage Kelowna
Under your rent
44
$255,000
~$1,209/mo
i#62 – 720 Commonwealth Road
Lake Country · Residential
4 bd
2 ba
1,146 sqft
$223/sqft
Built 1983
MLS® 10376222
Royal LePage Kelowna
Under your rent
38
$110,000
~$521/mo
i415 Commonwealth Road
Lake Country · Residential
MLS® 10391020
Century 21 Assurance Realty Ltd
See all on the map (9 active listings)
Other rents in Lake Country
$1,800/mo · $2,000/mo · $2,200/mo · $2,500/mo · $3,000/mo · $3,500/mo · $4,000/mo
The assumptions behind these numbers
Every figure assumes a 5.19% interest rate, 20% down and a 25-year amortization. Property tax uses the local municipal residential rate of 4.89 per $1,000; strata ($320/mo) and insurance ($62/mo) are estimates, since neither is knowable from rent alone. Change any of these in the calculator and the numbers update in place. This is an estimate for comparison, not a mortgage approval or financial advice. Your rate, down payment and the home's real carrying costs will differ. Confirm with a mortgage professional before you rely on it.
Common questions
What can $1,500 a month in rent buy in Lake Country?
At a 5.19% rate with 20% down over 25 years, $1,500/mo carries the mortgage on a home priced around $316,000. Covering tax, strata and insurance inside the same budget, the matching price is about $209,000.
How much do I need for a down payment?
On a $316,000 home at 20% down, the down payment is $63,000. A smaller down payment raises the monthly cost and may add mortgage insurance.
Is the mortgage really the same as my rent?
The mortgage payment is, by design; that is what this page solves for. Owning also adds roughly $511/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,011.
RR
How these numbers are worked out
I am Ray Rasouli, a licensed REALTOR® with Real Broker B.C. Ltd. The purchase price is your rent solved back through a standard amortized mortgage, and the listings come from live MLS® inventory refreshed hourly, not a static table. The figures are for comparison, not a mortgage approval. Tell me your situation and I will confirm what you actually qualify for.
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Listing data provided by the Real Estate Board of Greater Vancouver and partner boards under MLS® Reciprocity. Deemed reliable but not guaranteed accurate. Mortgage figures are estimates for comparison only, not financial advice. MLS® and REALTOR® are trademarks of CREA.