Under your rent
49
$239,000
$325/sqft
2 bd · 1 ba · 736 sqft
#4, 11619 Walters Road
Summerland · Single Family
~$1,133/mo
Listed by eXp RealtyMLS® 10403114
Rent vs own
What your rent could own in Summerland.
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
- $798,950
- Homes at or under it
- 56
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$527,000
20% down assumed ($105,000). 56 homes listed at or under it in Summerland.
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
- $798,950
- Homes at or under it
- 56
Source: Current MLS® listings.
What each rent buys
In Summerland, a $2,500 rent carries the mortgage on a home priced around $527,000. That is $271,950 under Summerland's $798,950 median home price. 56 homes are listed at or under it. Figures use 5.19% over 25 years with 20% down.
Summerland homes around a $2,500 rent
56 active listings
Under your rent
34
$419,900
$360/sqft
3 bd · 2 ba · 1,165 sqft
#3, 8710 Prairie Valley Road
Summerland · Single Family
~$1,990/mo
Listed by Royal LePage Locations WestMLS® 10403196
Under your rent
35
$399,000
$340/sqft
3 bd · 2 ba · 1,174 sqft
#4, 8710 Prairie Valley Road
Summerland · Single Family
~$1,891/mo
Listed by RE/MAX Orchard CountryMLS® 10401891
Under your rent
25
$525,000
$599/sqft
2 bd · 2 ba · 877 sqft
#113, 13417 Lakeshore Drive
Summerland · Single Family
~$2,488/mo
Listed by eXp RealtyMLS® 10403344
Under your rent
35
$399,900
$251/sqft
3 bd · 2 ba · 1,592 sqft
#7, 14615 Victoria Road
Summerland · Single Family
~$1,895/mo
Listed by RE/MAX Orchard CountryMLS® 10399340
Under your rent
33
$387,000
$360/sqft
2 bd · 2 ba · 1,075 sqft
#1, 11222 Quinpool Road
Summerland · Single Family
~$1,834/mo
Listed by RE/MAX Orchard CountryMLS® 10399630
Under your rent
29
$430,000
$389/sqft
2 bd · 2 ba · 1,106 sqft
#2, 11318 Jubilee Road
Summerland · Single Family
~$2,038/mo
Listed by RE/MAX Orchard CountryMLS® 10402793
Under your rent
32
$289,900
17523 Sanborn Street
Summerland · Vacant Land
~$1,374/mo
Listed by Coldwell Banker Horizon RealtyMLS® 10402473
Under your rent
7
$329,000
14211 Victoria Road
Summerland · Vacant Land
~$1,559/mo
Listed by Royal LePage Parkside RealtyMLS® 10381558
Under your rent
$449,000
14812 Victoria Road
Summerland · Vacant Land
~$2,128/mo
Listed by Stilhavn Real Estate ServicesMLS® 10401702
Under your rent
16
$299,000
12402 BLAGBORNE Avenue
Summerland · Vacant Land
~$1,417/mo
Listed by Summerland Realty Ltd.MLS® 10382652
Under your rent
16
$295,000
$308/sqft
2 bd · 2 ba · 958 sqft
#2, 11110 Quinpool Road
Summerland · Single Family
~$1,398/mo
Listed by Royal LePage Parkside RealtyMLS® 10396387
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 Summerland
Listings and market data for Summerland.
Nearby cities
Compare Summerland 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.