Renting vs Home Ownership

Renting vs. Home Ownership This is a decision which many people face, and the decision is not as easy to make as it may sound.

As a homeowner, you can reasonably expect the equity in your home to increase over time as your mortgage is paid down. That, combined with regular appreciation in property values, can be a rapid and rewarding way to increase your net worth. In contrast, the person renting over the same amount of time is left with no property investment but may have enjoyed lower living expenses and the opportunity to invest in other opportunities.

When comparing owning to renting, you have to add up all of the figures, including the cost of your home, the size of your down payment, utilities, immediate repairs, interest rates and insurance, and compare them with how much you are currently spending on rent.

Of course, you also have to place a value on the enjoyment and satisfaction that you will derive from owning your own home.

 

 

 

Lisa Goodbrand, Broker of Record


Welcome to your online real estate resource center. As a qualified Real Estate professional I understand what it takes to help buy or sell homes in todays economy. There are many questions that should be carefully answered, whether you're a first time home buyer or an experience investor - each and every real estate transaction can have its own unique challenges and I will be happy to help answer any questions, provide helpful information, help find your next dream home or sell your home quickly and efficiently. Contact me today!

 

Contact Me


 Direct: (519) 624-1236
 Office: (519) 624-1236
 Fax: (519) 624-8950
 Email: sales@lwolf.com

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 6/22/2018 1:30:57 AM