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Home ownership versus rentingWe all need a roof above our heads. We often see the argument of “Renting vs. Buying” gets pretty heated on some social media posts. While the question might seem pretty basic, there are many complex factors that need to be taken into account before going one way or another. One thing is for certain, the solution is different from person to person.


It is becoming quite difficult for Canadians to put enough money aside in order to get their down-payment covered. Housing costs have soared in recent years and more and more first-time buyers are priced out of their comfort zone. For some, renting is a natural solution that will allow them to be able to save for a home.

  • Flexibility: Change living locations or arrangements as soon as the lease term expires.
  • Fixed costs: You know that what you are paying for is in the contract. No unexpected expenses if something breaks and need replacement


  • Equity: As you repay your mortgage, you are building equity in the home
  • Control:  You can redesign and renovate the space and use it as you see fit provided that it’s under city guidelines
  • Value Increase: In most cases, the value of your home will increase year over year. This means that you are seeing a positive return on the value of your home
  • Accelerate your mortgage payment: Depending on your living conditions, you can rent some of the space in your house to help offset some of the mortgage or utility costs

As mentioned at the start, both sides of the coin have their own fair share of positives. StatsCan information shows that in 2016, home ownership increased in Canadians aged 20-34 from around 45% to around 70% for Canadians aged 35 -54. This points to home ownership winning the debate

If you are having trouble putting money aside for your down payment, or you just need a solution to your debt, get in touch with us today. We can help.

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