This is a decision that 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 a regular appreciation of 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.
Stay up to date on the latest real estate trends.
When preparing Forest Hill Yorkville homes for sale, avoid these seven home selling mistakes.
A luxury real estate broker offers a wealth of knowledge that can translate to a successful experience.
An exploration of Canada’s largest and most unique city.
Helping you capture the allure of this prestigious Toronto enclave.
Old-world charm mixed with green space and easy access to excellent shops makes it worth the effort to snag a home in this Toronto neighborhood.
The most advanced and user-friendly brokerage software ecosystem in the world.
New residential building development by marketing and selling pre-construction properties for luxury developers.
Our listings are viewed and experienced by an international audience with buying power.
Leader in the Canadian real estate market and prides itself on its rich history, the reputation of integrity, customer service, and market expertise.
With numerous branches specializing in a variety of unique estate homes, chalets, cottages, condominiums and commercial properties, Forest Hill Real Estate has mastered the art of marketing, selling and facilitating transactions in our many distinct locations.