Is Owning Right for You?

Considered by many to be a lifetime’s single largest emotional and financial decision, take time to prepare yourself – make a knowledgeable decision.

While buying a home may seem like a great idea, understand what home ownership involves. While pride of ownership has personal value, owning a home also means having to invest money, time, energy and the burden of additional responsibility.

Good and Bad thoughts:

  • Financial Security
  • Stability
  • Financial Stress
  • Maintenance
  • Responsibility
  • Flexibility

The Pros and the Cons

Compare the benefits of owning versus renting. Write down these headings on a piece of paper and start to list your thoughts on each.

  • Advantages of Renting
  • Disadvantages of Renting
  • Advantages of Buying
  • Disadvantages of Buying

Some starter questions:

  • Do you think you will be moving to another town in the near future?
  • Will your income stay the same or are you expecting and increase?
  • How do you feel about the responsibility of carrying a mortgage? Remember it’s not much different than having to pay rent. You have to live somewhere!
  • Have you the skill sets and do you want to take care of home repairs and improvements?

*Courtesy CMHC