Post # 1
The time has come where I leave the nest ( mama’s nest ) start my new life with my loved one. I get mixxed comments and suggestions from family memebers and friends, Some say – Buy your first home! or its money wasted! , others say ( Rent as you will have no problems )
So what’s better Renting or Buying?
Living in Montreal Quebec ( Realestate is not that expensive compared to Toronto , Vancover etc )
We can get about 1100 sqfeet condo for about 300k or even a wonderful house for about the same! But if we rent, we are looking between 1000-2000 am month.
Post # 2
neither is better than the other – it depends on your finances and lifestyle and the current market. If you have the money for a downpayment and don’t plan on moving then buying can be great. If you like the flexibility of being able to move and having a landlord responsible for repairs then renting is the way to go. I personally hate renting and prefer owning, but I have just as many friends who feel the opposite.
Post # 3
Completely agree with PP, there are so many more factors to consider – Renting can be unstable but can also offer more freedom, do you want to stay where you are? Will you have to move for work? Are you ready to commit to maintaining your own property or would you rather it be taken care of by a landlord?
Fiance lived in 3 rented places together before we bought our home (and more individually before that) I don’t know if I would have been ready to have moved out from my family/parents home and straight into home ownership, renting is a good way to find your feet.
I disagree with people who say ‘renting is money wasted.’ Renting allowed me to work and to get to know my now home city. It was also a good ‘building block’ in my relationship with Fiance and in all honesty it was a wakeup call – haivng lived with my parents for such a long time into my adulthood I can honestly say I had no idea how much I was taking for granted – running your own home can be exhausting!
Post # 4
I agree with PPs. Based on how much you would pay per month, buying sounds like a good idea. But, if you buy you will be responsible for repairs of wherever you own. Renting means someone else will repair (but in my experience that does not always happen when or how you want either). Darling Husband and I rented for 5 years together before we bought. If you have no plans to move anywhere in the the long term and you can afford repairs, then you should buy. Personally, I was glad that I rented prior to owning because at the time I was not ready for all of that responsibility. You are not throwing away money by renting because you are simply paying for a place to live.
Post # 5
I agree. It also helps if you don’t know which neighborhood you want to live in yet. Darling Husband and I have lived in three different areas in our city and I would’ve been really unhappy if we had bought property the first place we lived, as it was my least favorite. It doesn’t hurt to rent for a year or two to make sure you like where you’re potentially going to buy.