Under your rent
14
$149,000
$235/sqft
1 bd · 1 ba · 634 sqft
#203, 7280 Lindsay Road
Richmond · Apartment/Condo
~$706/mo
Listed by Macdonald Realty WestmarMLS® R3174227
Rent vs own
$1,500 a month in rent buys a $316,000 home in Richmond
At a 5.19% posted rate, 20% down and 25 years. 41 Richmond homes are listed at or under it.
- Purchase price
- $316,000
- Down payment
- $63,000
- All-in monthly
- $1,975/mo
- Homes listed
- 41
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$316,000
20% down assumed ($63,000). 41 homes listed at or under it in Richmond.
Of the first payment, about $417 goes to the loan itself. Tax, strata and insurance would bring the all-in price closer to $216,000.
- Purchase price
- $316,000
- Down payment
- $63,000
- All-in monthly
- $1,975/mo
- Homes listed
- 41
Source: Current MLS® listings.
Richmond homes your $1,500 rent could own
41 active listingsOpen these Richmond homes on the map
Draw an area and save homes you like.
Under your rent
17
$308,000
$583/sqft
1 bd · 1 ba · 528 sqft
#225, 8120 Colonial Drive
Richmond · Apartment/Condo
~$1,460/mo
Listed by RE/MAX WestcoastMLS® R3174180
Under your rent
34
$188,000
$260/sqft
1 bd · 1 ba · 724 sqft
#5, 23080 Dyke Road
Richmond · Single Family Residence
~$891/mo
Listed by Oakwyn Realty Ltd.MLS® R3165203
Under your rent
16
$189,900
$251/sqft
1 bd · 1 ba · 757 sqft
#212, 6420 Buswell Street
Richmond · Apartment/Condo
~$900/mo
Listed by Macdonald Realty WestmarMLS® R3172367
Under your rent
26
$310,000
$498/sqft
1 bd · 1 ba · 623 sqft
#105, 8460 Ackroyd Road
Richmond · Apartment/Condo
~$1,469/mo
Listed by Macdonald Realty WestmarMLS® R3113495
Under your rent
23
$258,000
$268/sqft
2 bd · 1 ba · 964 sqft
#117, 8031 Ryan Road
Richmond · Apartment/Condo
~$1,223/mo
Listed by Nu Stream Realty Inc.MLS® R3170439
Under your rent
24
$168,000
$147/sqft
3 bd · 2 ba · 1,139 sqft
#303, 8080 Ryan Road
Richmond · Apartment/Condo
~$796/mo
Listed by Luxmore RealtyMLS® R3165962
Under your rent
19
$169,900
$273/sqft
1 bd · 1 ba · 623 sqft
#104, 7220 Lindsay Road
Richmond · Apartment/Condo
~$805/mo
Listed by Dracco Pacific RealtyMLS® R3150534
Under your rent
15
$215,000
$232/sqft
2 bd · 1 ba · 928 sqft
#103, 8060 Ryan Road
Richmond · Apartment/Condo
~$1,019/mo
Listed by Sutton Group Seafair RealtyMLS® R3159035
Under your rent
11
$268,000
$321/sqft
2 bd · 1 ba · 834 sqft
#204, 7260 Lindsay Road
Richmond · Apartment/Condo
~$1,270/mo
Listed by Latitude Realty Inc.MLS® R3134544
Under your rent
16
$228,000
$338/sqft
1 bd · 1 ba · 675 sqft
#214, 8031 Ryan Road
Richmond · Apartment/Condo
~$1,081/mo
Listed by Latitude Realty Inc.MLS® R3134368
Under your rent
18
$198,000
$237/sqft
2 bd · 1 ba · 834 sqft
#208, 7200 Lindsay Road
Richmond · Apartment/Condo
~$938/mo
Listed by Latitude Realty Inc.MLS® R3120325
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).
The math
| Rent you pay | $1,500/mo |
|---|---|
| Interest rate | 5.19% |
| Amortization | 25 years |
| Down payment (20%) | $63,000 |
| Mortgage supported | $253,000 |
| Purchase price | $316,000 |
| Tax, strata and insurance | $475/mo |
| All-in monthly | $1,975/mo |
Assumptions
- Rate
- 5.19%, the posted five-year fixed rate. Illustrative, not a quote.
- Amortization
- 25 years
- Down payment
- 20% ($63,000 on $316,000)
- Property tax
- 3.54 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.
Questions
$63,000, or 20% of $316,000.
The mortgage payment is. Tax, strata and insurance add about $475/mo, for $1,975 in total.
Other rents in Richmond
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.