Renting, No Longer an Option
With the high cost of renting a condo it is no longer a good option. Far better to buy the l condo than to rent it. By renting you are actually paying your landlords mortgage for him and in the end you’ve acquired nothing, however your landlord has his property paid off free and clear thanks to you. It makes no sense to rent while interest rates are so low. First time home buyers incentives are geared to help you achieve your dream condo. Why on earth would you rent.
I personally now people who have paid rent for well over twenty years and still live in the same rental condos and haven’t moved. Obviously their landlords are very happy with this situation.
My own aunt is one of these people and at the age of 70 she finally decided to buy her own condo and in the last year has watch the value of here home escalate over 30% from when she bought it.
“ I wish I had done this years ago” she say’s . All those years of paying rent watching her money go out the door. Her landlord was sorry to see her go, I wonder why.
