Mar 11

Should you rent or buy? This real estate calculator will help you decide

sale-rentTo rent or buy? That is a question Canadians across the country face as they weigh the pros and cons of making the leap into home ownership.

Conventional wisdom says to buy property. We’re not making any more land, and with the Bank of Canada keeping interest rates low and mortgage rates falling it might seem like a good time to purchase that first property.

Canadians should also consider that housing markets are regional. Outside of the red-hot real estate markets of Vancouver and Toronto, average home prices across Canada were actually down 0.3 per cent in January, to $286,911, according to the Canadian Real Estate Association.

Should I rent or buy? Try Global’s real-estate calculator to help you decide.  Let me walk you through the entire process, from start to finish, so that you are aware of everything when it comes to buying your home!