Should you move or stay? A renter's cost checklist

Renewing a lease often comes down to a gut feeling: is my rent still fair, or should I move? The honest answer usually depends on numbers most people never add up. Here's a checklist to make the decision with your eyes open.

1. Where does your rent sit versus the market?

Start with the gap between what you pay now and what a similar unit rents for today. If you're well below market, staying is often the financially smart move — a within-guideline increase still leaves you ahead. If you're above market, that's a signal worth investigating.

A market valuation on your property gives you an estimate with a confidence range, so you're comparing against real data, not a hunch.

2. The true cost of moving

Moving isn't just first-and-last. Add up:

• Movers or a truck rental
• Deposits and any overlap in rent
• Time off work and setup (internet, utilities)
• New-place premiums (parking, locker, higher utilities)

These one-time costs can quietly equal several months of any rent savings.

3. The break-even math

The question that actually matters: how many months does it take for a lower rent elsewhere to pay back your moving costs? If a cheaper place saves you $150/month but moving costs $2,000, that's over a year just to break even — and that's before factoring in the hassle.

Our Move vs Stay calculator does this math for you: enter your current rent, a target rent, and your moving costs, and it shows the total cost of each path plus the break-even point.

4. The things numbers miss

Not everything is a spreadsheet. Commute, neighbourhood, space, and how much you actually like where you live all matter. Use the numbers to remove the bad options, then let the qualitative factors break the tie.

A simple way to decide

1. Estimate your unit's market rent.
2. Check whether any proposed increase is within the guideline.
3. Run the move-vs-stay break-even.
4. If moving only wins by a little, staying put is usually worth it.

This is general guidance, not financial advice — your situation is your own.