Quote:
Originally Posted by bizaro86
I'm quite surprised the bolded is still possible in Vancouver. That changes my perception quite a bit. If the rental value of a property covers all its costs buying is probably better than renting.
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It's not easy and not the case with just any condo, I picked a strategically good option.
But it's not necessary as far a gap as you may have thought, mainly due to the record low mortgage rates.
Even if your ownership cost is higher than renting a similar product, it's important to look at how much principal you're paying off vs interest.
For a lot of buyers the extra is manageable and at least paying for an appreciating assett(potentially) vs renting is still the preferred choice.