The big downside is that you can't live here forever. If you are here more than 4 or 5 years I think you end up losing out. If you are only living there 4 or 5 years does renting make more sense then paying real estate fees.
First Unless you find comparables at higher prices I would discount the talk of "getting a place below market value". That to me seems like add speak.
So a 250k home would loan you a 12500 down payment. At 2.5% appreciation for 4 years they keep 6500 and you come out ahead. You stay for 10 years and they take 23k.
So if you accept that 4 to 5 years is the max time frame you can live there then you need to look at your cmhc costs and real estate costs, taxes, lawyers, interest vs renting
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