: This depends on the cost of the house and province you’re in, but realtor fees and closing costs amount to an average ofSo, how should you decide whether to rent or buy a property? There’s a simple calculation you can use to help you determine this.The price-to-rent ratio is a simple calculation to determine if the current market you want to buy in is potentially overvalued, and if you might be better off renting:Divide that number by the total annual rent of that same property.
Take the results of the price-to-rent ratio with a grain of salt. Like any ratio or rule of thumb, it’s one factor of many that you can evaluate when making the decision to buy or rent a home. There are also many non-financial benefits to renting as well. As a renter, you have more mobility and freedom to choose where you want to live. There can also be a lot of stress in owning a house if repairs need to be done or property taxes increase. When moving to a new city, there’s a lot you might not know about the area, and it might be better to rent for a period of time before buying.
There’s also no guarantee that activity within the Canadian housing market will continue to grow in the future. In a worst-case scenario, there could be a housing correction or crash after you purchase a home, and your house could be worth a lot less. This seems to be starting to happen
Ultimate goal is having sustainable employment to own your country.
Let’s if this pointless comment of mine will get more likes than whatever drivel is in that “news”article! 🤣😂😂
People need to own real estate, that is the primary means of wealth generation & being able to pass something tangible on to your kids. Else it will be wicked greedy elite people like Bill Gates & the likes owning everything & we'll all be slaving to pay rent to them. NOT COOL
Yes. So glad I did years and years and years ago.
You're actually better off paying for Blackrocks real estate holdings and having nothing of your own except an overpriced EC! CTV: The enemy of the people!
Just waiting on the next crash in the housing market before buying hehe like any kind of markets, a crash is bound to happen someday
Not according to the WEF, brain washing people ehh CTV?
Everyone’s situation is different so in the end the decision is based on that 🤓
Already pushing to own nothing ctv ? Gfys
Lots of complaints but not a single solution.
Goal should be to own your home (not waste money on rent). But the private housing market is out of reach for many. In Singapore, 90% of its population own their homes. Yet property prices are 30% higher than Toronto's. Singapore is the world's freest...
market is changing so fast I would hold off for a while until it stabilizes. BTW my wife and I were in Real Estate sales for a of years
'You will own nothing and be happy'
Not that renting doesn’t have merit, but Ask the WEF. Keep pushing their talking points.
'You will own nothing and be happy!' Lmao you people just keep following the script.
Programming to trick you out of ownership.
, you have beclowned yourselves. Please stop cdnpoli
Communist TeleVision: I told you so.
They want us to own nothing & be happy... 🙄
Well I’m pretty sure the answer is YES unless the guy you asked is a landlord.
The goal is to not own anything....and be happy.
Of course it is.
Yeah... WEF anyone? You will own nothing and be happy...
Buy Baby Buy ! You will need the money when you retire and sell. Canada pension don't cut it.
I was reading articles like this in 2013 when I bought my first house. Really glad I never listened. My mortgage payment is still $1000/month while rent would now be $2000-2500.
Seems to be the ultimate goal of mega corporations buying up real estate like crazy and driving prices up for the citizens
Sure let’s just program people to not strive for the same things that are proven an asset in their later years
What CBCNews CityNewsTO GlobalNational globalnews nationalpost TorontoStar employees doing? Are they buying, renting or begging let us know we will follow you🙏 joe_warmington ezralevant TheRealKeean TarekFatah TheophanesRex
Owning is a lot of work, but you can't put a price on not having to deal with slumlords anymore.
You should invest in real estate... but not necessarily where you live. Maybe continue renting... if it is too expensive where you live. But look to buy property elsewhere. Another province, country, etc... cheap markets. Rent it out. Let it pay for itself. Build equity.
There's a sense of pride that comes with ownership. It usually results in upkept lawns, gardens, nice curb appeal, etc. Of course our fake news media is desensitizing people to the thought of renting - you will own nothing and you will be happy. TheGreatReset EnemyOfThePeople
Nope
Let me guess. No, it shouldn’t 🙄
Who can afford to buy a home under the corrupt authoritarian Trudeau regime?
Renting means I've been able to live in downtown or midtown Toronto where I would never be able to afford to buy. Now just now, but for decades.
1 consideration. Get sustainable employment.
Can you get that down payment. That’s what most people need. affordablehousing
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