53 - Rent or Buy a Home: Which Is Right For You?

Renting versus buying is one of those questions that has been asked by millions of Canadians in every generation. But the answer is not as straightforward as it used to be. With the real estate market slowing down and interest rates rising, it is a difficult decision. Many are wondering if this may be a good time to buy or is it more economical to keep renting. There are other factors to consider, including your lifestyle, your finances and what the property market is like where you are buying. 

Francyne Myers, Licensed Insolvency Trustee with Allan Marshall & Associates, discusses the merits of both renting and buying. She speaks to the changes brought about by the pandemic in the last few years.

If you’re wondering if home ownership is for you - here are some of the topics covered:

• The extra costs of home ownership, over and above your mortgage
• When renting may be a better choice 
• How your credit score can affect your chances getting a good rental 
• Tax free savings accounts to put your extra money into 
• Housing market predictions for the next couple of years

Licensed Insolvency Trustees (LIT) are the only federally regulated debt advisors in Canada. Speaking with an LIT ensures that you are getting the best qualified advice.

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.

• Allan Marshall & Associates - Licensed Insolvency Trustee
• Buy vs Rent: Is Homeowernship a Cheaper Option?
• Preparing for Higher Interest Rates When You Have Mortgage Debt