Many people face this situation. The decision is not as easy as it seems.
Being a homeowner, you will expect the equity in your home to rise over time as your mortgage is paid. Combined with regular gratitude in property values, can be a quick and satisfying way to upsurge your net worth. In contrast, the individual who is renting over the same amount of time is left with no property investment but may have relished lower living expenses and the chance to invest in other prospects.
Owning vs. Renting Comparison
While comparing owning vs. renting, you have to add all of the figures, including the price of your home, the size of your down payment, values, instant repairs, interest rates, and insurance, and compare them with your present expenditure on rent.
You also have to place a cost on the enjoyment and satisfaction that you will derive from owning your own residence.
Tired of Renting?
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See also new Festival Condos by Menkes Developments in Vaughan. Another alternative between buying and renting – buying a pre-construction condo
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