Renting vs. buying a home

Canada's average house price has hit a new high, which has some making the decision to rent versus buying a home.

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[WildRoseCountryGirl]

don't pay your property taxes and see who really owns it.

[Pernection]

Fuck renting. The price goes up and you get no more square footage

[nathanielcarreon]

Bought 24 years ago, paid it off in 10 years and no mortgage since then. Sweet.

[HostageKllrHD]

God! never thought I would hear someone say they are better off renting than buying. Always said to buy any type of property as fast as you can - after 25 years you will have something to call your own and within that time the monthly payments will go down, compared to renting - after 25 years you have nothing and if anything, the rent would have more than likely gone up. I know this is an older video.

[BombasticLove]

If you can rent and have no maintenance or energy bills, way better off renting. It's one of those things that if you have a down payment and are not "broke" getting it, as in you have savings or inheritance etc... Then it is worth buying a home. But a lot of people cant get the down payment, and its not worth going into "debt" to get it. But if you have kids, then a home is worth it, you want to be able to live there for twenty years.

[mkgzt]

Bought a house, paid it off in 5 years.... since i no longer have a monthly payment to make -- i'm INVESTING that money elsewhere...

[bdavis]

That's the difference I'm living in my home and very quiet and private. Not some apartment that looks out into some else's window.

[michellemarie]

See in canada i think its better to rent rather than buying, in the US its better and cheaper to buy.

[AnimeBeefRandoms]

Well if you're in Toronto and Vancouver don't buy now, way too over priced and the bubble is about to pop!

[sweetfeat]

This argument dosn't make sense. When you invest your money in the stock market you can only make gains on that amount. If you get a mortgage you get gains on the entire property value. Two completely different scenarios. It's like leveraged return on investment owning a house in a bull market.

[sirxavior]

Depends on income, education, experience and location. Location wise Toronto and Vancouver are still great buys. Even if a 20% pull back were to occur its still worth it in the long run because Toronto( including the Golden Horseshoe region) and Vancouver is were the bulk of Canada's primary industries and employment is, it will rebound again in 5 - 10 years. Outside of Toronto and Vancouver its better to rent because the costs of ownership outweighs renting and its very unlikely you'll see any immediate increase in the value of your home.

[MrMannyhw]

Talk to the long term renters in San Francisco. How they wish they bought before.

[wongheungwing]

As a landlord myself, I totally agree that renting is the way to go.

[workingshlub]

if you plan on staying one place 10 years plus...buy the home 15 year mortage max pay off fast.

[MattSezer]

That’s fine, but don’t crying about gentrification when you can’t afford to pay your rent anymore.

[jamesallen]

Making the complex simple, I see. Every market is different. If you earn just enough to rent where you live, then you won't have any money to invest. If you can afford to buy in that same area, then buying IS investing. There are very few markets where people actually want to live where one can find cheap rent. Yeah, here com the 'move to East Jesus, Wyoming; rent is cheap there!'. Yeah, rent is cheap there. Because there are no jobs there.

[RemIsNice]

So if I'm a landlord, the renter is making off better than me? Is that logical?

[SP-veim]

If you purchased a house earlier, your monthly mortgage payment is far less than your monthly rental expense. So go ahead rent and keep complaining about increasing housing and rental prices...

[inchMorningwood]

How about rent for free at my parents place until im 28-30? Im surprise to see not many younger adults do this as it would help save and get ahead

[honestycounts]

I do something called 'Swing Trading' (buy or sell once every 2 to 8 weeks, no more than that). It attempts to sell at the peaks and buy at the bottoms. I'm only 80% accurate at it (I get close to the tops, and close to the bottoms, but not exactly, only 80% there). But that's good enough for me to be earning between 80% and 200% per year return on my investments. And that is a lot more than the 15% that real estate is rising each year in Toronto.
(( Don't do 'day trading', you will lose money if you try that, 95% of people lose and only the top best 5% make money day trading.))