Rent vs. Buy

A Financial Highway blogger compares two scenarios using the Toronto market as an example. Two similar condos are compared, one as a rental and one for sale. Playing out the numbers, renting costs much less monthly, but over the long term you come out ahead as a homeowner. Three things to keep in mind as you consider your options: cash flow, lifestyle and flexibility. Bottom line, if you plan to stay in your home for some time, it’s more beneficial to buy it. If your plans are more short-term, and your lifestyle choices are expensive, you’re better off renting.

 

Read full article here: Rent vs Buy

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