Don’t get us wrong, buying a home instead of renting has its advantages. It can be viewed as an investment, you have more control over the property, and when people ask, you can tell them it’s yours! ALL YOURS!
Renting, however, offers its own benefits. Two main advantages of renting are maintenance costs and monthly costs. More control means more maintenance which means more costs. Start-up costs, whether on a new home or a previously owned home, have to be factored into the price of the property as do future maintenance issues. Painting, landscaping, renovations, it all costs you more money not to mention your time. With monthly costs, other than utilities, property taxes can take a large chunk out of your pocket.
Over time, the money you can save from renting can add up pretty quickly.
Renting is not as sexy as owning. And you might not get that sense of accomplishment that you get from buying your own place, but if money is important to you, renting is the way to go.
For a slightly more in-depth look, read more here.
If you are looking to rent an apartment in Ontario, please visit our website at www.clvgroup.com to search for vacancies! One of our representatives will be more than happy to show you around.
Happy apartment hunting 🙂