Quote:
Originally Posted by Weitz
I can understand that. But I also would have a hard time renting for the next 10 years and having nothing to show for all that rent I paid out. So it can go both ways.
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Unless you invest your additional capital in the markets as a renter, which can be an even better return than many housing markets in Canada subject to two caveats:
1. Having the discipline to continually invest (many people benefit from a mortgage being a "forced savings program". I have that discipline to invest every month, although I know many others do not.
2. Selling your principle residence results in no capital gains, which can be a big tax advantage vs investments being taxed after maxing out a TFSA not withstanding foreign dividend withholding tax.