Basement suite return on investment calculator
See your return on a suite, how fast it pays for itself, and what the rent is worth if you spend it, pay down your mortgage or invest it.
Your situation
The home and suite
$
$
$
$
$
I'm in SaskatchewanAdds the suite rebate on a new build (35% back, up to $35,000) and 6% PST on any mortgage insurance premium.
The mortgage
%
Borrowing more than 80% of the home's value adds a mortgage insurance premium, and 0.20% more on amortizations over 25 years.
Running costs
$
$
%
%
%
Empty months and maintenance are a share of the rent.
Compare over time
%
Only used for "Invest it" below. Returns aren't guaranteed, so try a lower number too.
Three ways to use the rent over 10 years
What's left each month after the suite's share of your payment, plus the rebate.Best1
Offset living expenses
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Best2
Pay down your mortgage
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Best3
Invest it
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Year by year
Rent and running costs grow by your rent increase each year.| Year | Rent | Running costs | Suite's share of payment | Left over | 1. Spend it | 2. Mortgage | 3. Invest it |
|---|
The last three columns are the running total for each option. "Mortgage" assumes your mortgage is big enough to take the extra payments the whole time. Results are before income tax.
Want Mitch to run your real numbers?
Mitch will confirm what you qualify for, which program and lender fit, and what the suite could really earn you.