Quote:
Originally Posted by Tinordi
You can definitely come out ahead renting vs. owning.
There's an opportunity cost to mortgaging, it's the financing costs, maintenance costs, strata costs, insurance costs, tax costs versus none of those for renting.
The difference between the owning premium and the renting discount is real money and can be invested in better performing assets like stock equities.
It all depends on how long you are in the home for.
Use this calculator:
http://www.nytimes.com/interactive/b...ator.html?_r=0
One of the most enduring myths is that you're losing money renting. For the most part you're losing money mortgaging. |
I love this video series...Renting vs. Owning - The Science
https://www.khanacademy.org/science/...-buying-a-home