How you can really be “passive” landlord — profiting without doing any back-breaking work, taking any late-night phone calls, or dealing with any nightmare tenants.
Homeownership has long been one of the top goals for many Canadians. We have all been told by parents and grandparents that homeownership trumps renting anyday. The phrase, “Why pay someone else rent when you can put money towards owning your house?” has long been the standing advice passed down generation to generation.
Sounds like sound advice. I mean, fundamentally, it makes more sense to pay yourself rather than someone else. But, is that always the case? Are there instances when renting is more advantageous?
In this first post, “Should I Rent or Own? – Part 1”, I would like to give some guidelines to help you make the decision to rent or own. I will use a simple formula to see if current house prices are under, at par, or more expensive relative to renting. I will also use London, Ontario as an example to see if homeownership trumps…
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