Rent vs Buy?

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Are you wondering whether to buy or rent a condo?  Well, the first thing to do when faced with a prediciment like that is to figure out your finances.  Never bite off more than you can chew.  Be honest with your self and take a long hard look at your bank account and the money you are bringing in and the money going out on a regular basis.  When buying a condo don’t forget that on top of your mortgage you do have a monthly maintenance fee and property taxes that need to be paid.  When renting the only added cost is sometimes the hydro and parking.  On the other hand if you are able to buy you are not just buying a place to live but you are buying an investment.  Probably the biggest one in your life.  It is to many the first step on their path to financial stability.  Buying a condo especially your first one is an exciting time in anyone’s life, just make sure that you are at the stage in your life where buying over renting is a wise possibility for you.  

 

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