Quote:
Originally Posted by Marshall Placid
rent vs own...
It depends on the price of the house.
Without going into deep calculations, I surmise lower priced homes (condos, townhouses, etc.) have a higher rental cost when compared to higher priced homes.
Basically, the more expensive the house is, the more it makes sense to rent, but the tipping point ($1mill+? 1.5?) is debatable.
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Bingo. Renting a detached home is much cheaper than owning one.
However, if you're tired with living in someone's basement and want some stability because you're raising a family, the difference between renting a townhouse or 3-bedroom condo and owning a similar property is not that great, even when you takie into account property taxes, strata fees, etc.