Renting vs buying a home? As a first time home buyer, you may be flustered on whether it is better to rent or buy a house, condo, apartment, etc. This video provides tips and advice for millennials entering the housing/condo market for the first time.
This video does not go into the actual numerical details of renting vs buying. The approach I liked to take was a simpler one for most people to understand. I found through my research that a lot of people just get confused, so I tried to keep it as simple as I could.
In this video I stated I believe renting is better than buying a home if you are young, and that renting is not a waste of money. I want to stress that I believe it is better to rent in the early stages of your adult life. I am not against home ownership or the purchase of a new house. I believe with the right circumstances, buying a home can prove to be a better financial decision than renting. I explain that near the end of the video.
Some myths people think of when it comes to this topic are:
1. renting is a waste of money
2. putting your money in the stock market is too risky versus owning a home
3. you build equity owning a home, you build someone else’s’ equity while renting as you pay their mortgage off instead
Toronto Condos: Should You Rent or Buy?
Should millennials rent or buy real estate?
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