Which is Best in Canada: Renting or Buying?
The Toronto Sun published an article trying to answer the age-old question, which is better renting or buying? The statistics have shown that from a financial standpoint, as long as you can afford the home, buying is best. From a financially-flexible standpoint, it is clear that renting is more beneficial.
The best concept to answer the renting vs. buying question lays in answering this: what do renters do with the difference they save between their rent and mortgage payment? Renters, if financially able, should be investing the difference in order to keep up with home owners. Often individual investments can beat the housing market.
To read the analysis, click here.