Real Estate

No right answer to rent-or-buy debate. But there's no question who ends up ahead

  • Last Updated:
  • Feb 17th, 2019 4:12 pm
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4 replies
Deal Addict
Jul 21, 2008
1011 posts
795 upvotes
GTA
The savvy investor and the frugal spender wins. So... your data means nothing.
Deal Fanatic
Feb 29, 2008
6920 posts
2320 upvotes
Slono wrote:
Feb 17th, 2019 1:58 pm
The savvy investor and the frugal spender wins. So... your data means nothing.
I’d much rather be a savvy investor than a frugal spender. Frugal spender on a small income really doesn’t mean much.
Newbie
Jan 8, 2011
48 posts
38 upvotes
Ottawa
A lot of it is timing. I put down $5,000 on my first condo a decade ago - that $5k has turned into several hundred thousand of profit now. But for someone buying a condo today who needs to put down $50,000 on an already high-priced condo, the answer of buying or renting if much less clear.
Newbie
User avatar
Oct 9, 2018
36 posts
5 upvotes
JayLove06 wrote:
Feb 17th, 2019 2:09 pm
I’d much rather be a savvy investor than a frugal spender. Frugal spender on a small income really doesn’t mean much.
I think both go hand in hand. I have a lot of friends making income in the $50K-65K/year range and paying ~$2K/month renting alone downtown Toronto. If they have foresight on saving (whether it be for purchasing property or other investment means, find a roommate and split the rent to $1K a month. That $12K savings a year certainly adds up regardless of how it gets invested. But the saving has to start somewhere.

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