Is it better to rent or buy? This is one of the most common financial questions Canadian consumers have to deal with at some point. From millennials who typically begin their careers while renting, to families who are looking to live “the Canadian dream” of home ownership.
There are many factors which need to be considered for both renting and buying, including understanding all the financial responsibilities for both, the risk vs. reward, and even emotional factors which are crucial to this decision process, since for most consumers, purchasing a home is the largest investment of their lifetime. RentSeeker.ca, Canada’s leading apartment, condo and home finder, has built a new, one of a kind, Rent or Buy Calculator to help consumers compare the costs associated with renting vs. buying.
The new Rent or Buy Calculator by RentSeeker.ca provides valuable tools including pre-inputted average rent costs for many cities across Canada which users can find by choosing a province, city and bedroom type, or users can input their own rent costs in the custom field for “Monthly Rent”.