Renting is a shorter-term solution that gives you the flexibility to move whenever you wish. Your financial responsibilities to your landlord are minimal provided you give adequate notice before moving. Areas where rent is regulated offer tenants the added advantage of foreseeable increase. The decision of renting or buying shouldn t be limited entirely to dollars and cents. The choice is ultimately a combination of affordability and lifestyle.
Home ownership is a wonderful way to put down roots and create a warm sense of community.
It s also a great way to build wealth and security for retirement. Many retirees eventually sell their homes, downsize, and use the proceeds to enjoy their later years. Contact the editor . 411HomeNet Canada Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without express written permission.