Chris Madden SRESSales Representative

Royal Lepage Connect Realty Brokerage

Independently owned and operated.

 

950 Merritton Road Pickering,  ON  L1V 1B1  905-831-2273

1415 Kennedy Rd suite 22 Toronto ON           416-751-6533

836 Danforth Ave Toronto ON                          416-461-0925

311 Roncesvalles Ave Toronto ON                  416-588-8248

Direct: 416-587-4063

Office: 905-831-2273

Fax: 905-420-5455

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.


Powered by Lone Wolf Real Estate Technologies (CMS6)