Direct: 416-471-7919    -     Office: 416-489-3434    -    Fax: 416-489-5445

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.


RE/MAX Hallmark Realty Ltd., Brokerage
Independently Owned & Operated.

9 OFFICES TO SERVE YOU BETTER!

 

Yonge Street Office

3434 Yonge Street

Toronto, Ontario, M4N 2M9

Tel: 416-489-3434  •  
Fax: 416-489-5445

College Street Office

968 College Street

Toronto, Ontario, M6H 1A5

Tel: 416-531-9680 •  
Fax: 416-531-0154

Riverdale Office

724 Pape Avenue

Toronto, Ontario, M4K 3S7

Tel: 416-462-1888  •  
Fax: 416-462-3135

Central Office

723 Mount Pleasant Road

Toronto, Ontario, M4S 2N4

Tel: 416-486-5588  •  
Fax: 416-486-0000

Beach Office

2237 Queen Street East

Toronto, Ontario, M4E 1G1

Tel: 416-699-9292  •  
Fax: 416-699-8576

Dorset Office

1066 Main Street, P. O Box 337

Dorset, Ontario, P0A 1E0

Tel: 705-766-2400  •  

Fax: 705-766-2800

Fairview Office

245 Fairview Mall Drive, Suite 108

Toronto, Ontario, M2J 4T1

Tel: 416-494-7653  •  

Fax: 416-494-0016

Richmond Hill Office

8 Weldrick Road West

Richmond Hill, Ontario, L4C 3T8

Tel: 905-883-4922  •  
Fax: 905-883-1521

Muskoka Office

113 Medora Street, Box 457

Port Carling, Ontario, P0B 1J0

Tel: 705-765-6801  •  
Fax: 705-765-6253

 

 

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