Buy Or Rent - YQL Real Estate - Lethbridge AB

In some cities, buying a home may not be feasible. However, in  a town like Lethbridge, with a lower average cost per home, a required down payment of 5% and interest rate of 3%, your mortgage payments could be pretty similar to what you’re paying in rent, only difference would be that the equity is going to you!

Advantages to buying:

  • You are paying your own mortgage, not your landlords. You will be building equity in your property
  • You create stability for yourself, by creating roots and having a secure place to live in the long-term
  • If you want to paint your living room, tear down a wall, or do any desired maintenance, you have the freedom to do it!
  • You can have pets in your home without any hassle
  • You are welcome to enjoy company without restrictions on hours, or noise levels
  • Saving money. Every time you pay your mortgage, your home equity is increased
  • You can have roommates to help pay your mortgage, or even rent the property out as a source of income

Advantages to Renting

  • If you are looking for short term living arrangements, this is the way to go
  • Lower monthly and upfront costs
  • Protection from decrease in property values
  • Your landlord is responsible for any major repairs or expenses to to the property
  • Payment of property taxes and insurance are the responsibility of the landlord (though, you will still want to get insurance on your own belongings)

Questions about buying vs. renting?

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Peter Dyck

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