From Renting to Owning

Are You Thinking of Buying A Property Instead of Renting?

Unfortunately, with Toronto’s monthly rental rates being as high as they are, it makes it hard to save and get ahead when renting. Understandably, you may have different reasons for renting vs buying, maybe you are a foreign student, you’ve been temporarily transferred to Toronto for work, maybe you like to move more often to experience different neighbourhoods or maybe you just aren’t in a financial position to buy real estate right now. There are many different scenarios when it may make more sense to rent than to buy. With that being said, if you are in a position where you have been considering the option of making the transition from renting to owning and you are either in or close to being in a financial position to buy, I highly recommend taking the time to carefully crunch the numbers in order to determine if you can afford to buy rather than rent.

Whether you rent or you own, you are going to be paying someone in order to have a roof over your head, you will either be paying your landlord, helping them pay off their mortgage and helping them build equity for themselves or as an owner you will be paying your lender/bank in order to pay off your mortgage while you build equity for yourself and for your future. Why not invest in your future by buying and owning real estate and building equity for yourself?

I understand that the thought of making the transition from renting to owning can be overwhelming as there are a lot of “What if’s” that run through your head. However, it’s essential that you focus on the bigger  “What if’s”, what if you are actually in a position to buy and just don’t know it, what if you don’t really need to rent, what if you could be building equity instead of simply giving your money away, what if you could have built $50k in equity had you bought last year instead of continuing to rent, what if prices continue to skyrocket and you miss your opportunity to get into the real estate market and are stuck renting or needing to move to a less desirable city or town in order to get into the real estate market?

If you are thinking about making the transition from renting to owning, I would be happy to answer any questions you may have and to discuss how I can assist you with making the transition a successful and enjoyable one. As someone who has both rented and has owned several different properties including condos, semi-detached and detached freehold properties, I understand the concerns you may have about making the transition, I’ve been in your position before. With that being said, I’m grateful that I decided to make the transition from renting to owning at the time that I did as I would not be in the position that I am today had I not done so.

Contact me to discuss your current or future real estate plans, I would love to hear from you and I am happy to answer any questions you may have about transitioning from renting to owning or any other real estate questions or concerns you may have. I’m just a call, text or email away. Feel free to contact me any time.

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+1 (416) 294-3776 braden@chestnutpark.com