Now THAT Is The Question!
Traditionally there have always been the age old questions people ask themselves which ultimately determines whether someone should buy or rent...
1. Do I want the freedom to modify and the responsibility of maintaining my own property? For example: growing a garden, or cutting the grass in summer and shoveling snow in the winter?
2. Do I prefer living in close proximity to my neighbours?
3. Do I want greater opportunity and freedom to live in my neighbourhood of choice despite my limited income?
4. Do I want to cash in my accrued equity and do something else with my money?
5. how does my income and buying power determine if i would be better buying or renting?
Before you answer this question, ask yourself what is important to you.. security? building equity? affordability? Then click the image link below and see whether it is better for you to own or to rent.
Tally your yesses and noes. Do you lean towards renting or buying? If money is an issue, are you seeking something more affordable over a period of time or do you want to build your net worth over time? In this case the "Buy Vs Rent" calculator should be the greatest determining factor.
If you enjoy my blog posts, please feel free to share them with family and friends and if you are interested in selling your home for the best price or would like to receive a free market value estimate, contact me.
Rachel Craggy has a license in real estate and has been working in the real estate industry for the last 10 years. Successfully flipping houses since 2015, Rachel has an education in interior design and real estate staging, was the owner of a success home staging company in Toronto and has worked with many home owners to help them achieve their real estate dreams.