Are you weighing up the pros and cons of renting vs buying? You’re not alone.
Toronto has become expensive and there are no signs of the cost of living going down anytime soon.
According to TREB, the average rental price of the second quarter of 2018 are as follows:
- $1,726 for a Bachelor
- $2,119 for a 1 Bedroom
- $2,930 for a 2 Bedroom
- $3,795 for a 3 Bedroom
Most renters are quite literally paying about the same amount in rental costs as a mortgage. Bananas.
If you have a down payment and think you can swing a mortgage, it’s definitely a worthwhile conversation. I’m happy to buy the coffee.