Buy or Keep Renting?
The buy vs rent decision isn’t just emotional—it’s math, timeline, and lifestyle. In the GTA and Southern Ontario, higher rates and a softer market make it even more important to compare the true monthly costs and your 3–5 year plan.
Renting gives flexibility and predictable short-term costs, but it doesn’t build equity. Buying has upfront expenses (down payment, closing costs) and ongoing costs (taxes, insurance, maintenance), but it converts part of your monthly payment into long-term ownership. A helpful starting question is: do you expect to stay put for at least 3–5 years?
Financially, compare apples to apples. Don’t only compare rent to mortgage principal-and-interest—include property tax, insurance, and a maintenance budget. In today’s market, the mortgage payment can be higher than rent, but ownership also includes forced savings (principal paydown) and potential long-term appreciation.
Buying also changes your financial habits: you get purchase-ready—credit cleanup, savings plan, and pre-approval. Even if you don’t buy immediately, building that readiness gives you options when the right home and price show up.
The decision is personal, but it should be actionable. If you want, we can run a simple “rent vs buy” analysis based on your rent, savings, and realistic purchase price range—so you can choose the move that fits your life and your finances.
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