Under your rent
21
$309,900
~$1,469/mo
i#304 – 1009 McKenzie Avenue
Saanich · Residential
1 bd
1 ba
810 sqft
$383/sqft
Built 1975
MLS® 1043721
Loyal Homes Ltd.
Rent vs mortgage
$1,500 a month in rent buys a $316,000 home in Saanich
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 $208,000. Here are the 6 Saanich homes on the market at or under it right now.
Purchase price
$316,000
Down payment
$63,000
All-in monthly
$2,012/mo
Matching homes
6
Saanich homes your $1,500 rent could own
Under your rent
$99,000
~$469/mo
iLot 3-A Gorge Road
Saanich · Land
0 bd
0 ba
MLS® 1039906
Royal LePage Coast Capital - Chatterton
Under your rent
37
$299,900
~$1,421/mo
i#413 – 3133 Tillicum Road
Saanich · Residential
1 bd
1 ba
536 sqft
$560/sqft
Built 1998
MLS® 1034634
eXp Realty
Under your rent
42
$299,000
~$1,417/mo
i4569 Cordova Bay Road
Saanich · Land
0 bd
0 ba
MLS® 1042711
RE/MAX Generation - The Neal Estate Group
Under your rent
2
$150,000
~$711/mo
i4140 Gillie Road
Saanich · Land
0 bd
0 ba
MLS® 1007480
RE/MAX Camosun
Under your rent
2
$150,000
~$711/mo
i4142 Gillie Road
Saanich · Land
0 bd
0 ba
MLS® 1007481
RE/MAX Camosun
See all on the map (6 active listings)
Other rents in Saanich
$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 4.94 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 Saanich?
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 $208,000.
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 $512/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,012.
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.
$1,800/mo in Saanich$2,000/mo in Saanich$2,200/mo in Saanich$2,500/mo in Saanich$3,000/mo in Saanich$3,500/mo in Saanich$4,000/mo in SaanichAll rent bands in SaanichSaanich market reportMortgage calculator
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.