Choosing whether or not to buy or rent a home is an important decision form many Canadian residents. Many may believe that buying a home is a worthwhile investment and the idea of homeownership may be quite attractive. What do residents need to know in order to decide which path, renting or buying, is right for them at this time?
Speaking to a financial planner may help Canadian residents determine which course may be most suitable, depending on their assets and the current housing market. Understand some of the factors involved in choosing to buy or rent a home.
Are you ready to put down 10-20 percent of the purchase price?
In Canada, big banks want a first-time buyer to be able to put down an average of 10 percent on a home. This does not…