{"id":210586,"date":"2024-06-08T08:00:00","date_gmt":"2024-06-08T12:00:00","guid":{"rendered":"https:\/\/mp-2702.milesopedia.dev\/news\/should-you-rent-or-buy-a-home-in-canada\/"},"modified":"2026-05-08T15:52:47","modified_gmt":"2026-05-08T15:52:47","slug":"should-you-rent-buy-home-canada","status":"publish","type":"post","link":"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/should-you-rent-buy-home-canada\/","title":{"rendered":"Real Estate: Should you rent or buy a home in Canada?"},"content":{"rendered":"\n<p>You may be at a stage in your life where you&#8217;re wondering whether you should continue renting or buy a home. But with real estate prices soaring in recent years, homebuyers need to consider all the risks. Credit score, financial stability, location and whether or not you want to live in the same place for a long time are just some of the factors to consider when making this decision. And let&#8217;s not forget remote working, which has become the norm in many professions. In short, what makes the most sense to Canadians right now? Is it better to continue renting or buying a house or other type of property?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-renting-or-buying-a-home-things-to-consider\">Renting or buying a home &#8211; Things to consider<\/h2>\n\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-know-your-credit-score\">Know your credit score<\/h3>\n\n\n\n<p>Before determining whether to rent or buy a home, you first need to know your <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/101-credit-score\/\">credit score<\/a>. The credit score is designed to represent your credit risk. This information is available from the two major credit bureaus:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/read-credit-report-equifax\/\">Equifax Canada<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/read-credit-report-transunion\/\">TransUnion Canada<\/a><\/li>\n<\/ul><\/div>\n\n\n\n<p>If you have a low credit score, start rebuilding it to prepare for future purchases. To <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/improve-your-credit-score\/\">increase your credit rating<\/a>, follow these tips:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Meet your monthly payment deadlines<\/li>\n\n\n\n<li>Maintain a utilization ratio of 30% or less<\/li>\n\n\n\n<li>Keep credit lines open for as long as possible, especially with <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/no-fee\/\">no-annual-fee credit cards<\/a><\/li>\n\n\n\n<li>Pay off your debts as quickly as possible, if necessary<\/li>\n\n\n\n<li>Don&#8217;t apply for new credit cards before a mortgage appointment<\/li>\n<\/ul><\/div>\n\n\n\n<p>The <a target=\"_blank\" href=\"https:\/\/www.canada.ca\/fr\/agence-consommation-matiere-financiere.html\">Financial Consumer Agency of Canada<\/a> (FCAC) advises Canadians to always check their credit history before considering their purchase or lease options. It&#8217;s essential to have an above-average credit rating, because rents in Canada have risen, and you can be disqualified if you have a poor rating. It makes more sense for an owner to choose someone who is financially responsible and appears to be trustworthy.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--4'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"86318,116403,63994,134431\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-renting-or-buying-a-home-questions-to-ask-yourself\">Renting or buying a home &#8211; Questions to ask yourself<\/h3>\n\n\n\n<p>Once you&#8217;ve improved your credit score, it&#8217;s time to decide whether you want to rent or buy a home. Of course, leasing is less expensive than buying. But buying is more advantageous if your financial situation is favorable.<\/p>\n\n\n\n<p>You should ask yourself these questions before deciding whether to buy or rent:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>How soon would you like to rent or buy a house?<\/li>\n\n\n\n<li>Do you have enough money to buy a house, or will you have to <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/how-do-you-work-hypothecary-canada\/\">apply for a mortgage<\/a>?<\/li>\n\n\n\n<li>Do you have the resources and money to carry out home repairs?<\/li>\n\n\n\n<li>Do you intend to move regularly, or do you plan to stay in the same place?<\/li>\n<\/ul><\/div>\n\n\n\n<p>These questions will help you make the right decision for you and your family. Don&#8217;t rush into things when you&#8217;re not yet sure, but rather take time to think.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-5-and-40-rules\">The 5% and 40% rules<\/h3>\n\n\n\n<p>There are two rules that potential buyers choose to follow: the 5% rule or the 40% rule. Whichever rule you choose to follow will be a personal preference.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-the-5-rule\">The 5% rule<\/h4>\n\n\n\n<p>When you decide to rent or buy a home, you need to consider all the costs associated with owning a home. This may sound complicated, but in simple terms it involves the following:<\/p>\n\n\n<aside class=\"component component__notice component__notice--info wp-block-milesgutenberg-notice\">\n\t\t\t\t<i class=\"fas fa-info-circle\"><\/i>\n\t\t<div class=\"component__notice__content\">\n\t\t\t\t\n\n<p>Owning a home entails annual sunk costs amounting to around 5% of the property&#8217;s value. It doesn&#8217;t depend on whether you own a house or not. If you are paying less rent for a home similar to the one you are thinking of buying, it is best to continue renting. If you&#8217;re paying a higher rent than a home similar to the one you&#8217;re thinking of buying, it&#8217;s better to buy.<\/p>\n\n\t<\/div>\n<\/aside>\n\n\n\n<p><strong>Sunk costs<\/strong> include the following:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Home maintenance: 1% of the value of your home per year (excluding renovations, which generally increase the value of your home).<\/li>\n\n\n\n<li>Property tax: 1% of the value of your home per year<\/li>\n\n\n\n<li>Cost of credit: 3% of the value of your home per year<\/li>\n<\/ul><\/div>\n\n\n\n<p>Total sunk costs should amount to 5% of your home&#8217;s value per year. If you rent a house and its value is 5% less than that of a similar house (calculated annually), continue to rent. If you can buy a house and the property value is less than 5% of the rental amount, consider buying.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-the-40-rule\">The 40% rule<\/h4>\n\n\n\n<p>Your housing costs include taxes, heat, principal and interest. The 40% rule states that you must cover your housing costs as well as other debts, such as your credit card, with a maximum of 40% of your gross income. Most lenders in Canada follow this rule. With 50-60% of your net income, you need to cover the rest of your housing costs, such as transportation and food, also called fixed costs. If you can&#8217;t afford these percentages, you&#8217;ll have trouble paying off a mortgage.<\/p>\n\n\n<aside class=\"component component__notice component__notice--info wp-block-milesgutenberg-notice\">\n\t\t\t\t<i class=\"fas fa-info-circle\"><\/i>\n\t\t<div class=\"component__notice__content\">\n\t\t\t\t\n\n<p><strong>Debt ratios<\/strong>: Also consider calculating your GDS (gross debt service) and TDS (total debt service) ratios. Find out more: <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/what-are-ratios-indebtedness\/\">What are debt ratios?<\/a><\/p>\n\n\t<\/div>\n<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-help-for-first-time-buyers\">Help for first-time buyers<\/h3>\n\n\n\n<p>Find out about the assistance available to first-time home buyers in Canada. Depending on the province, region or even city, there are numerous assistance programs available. These can help you to become a homeowner. To find out more, consult our guide: <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/tips-for-buying-first-home-canada\/#v_rifiez_si_l_aide_aux_premiers_acheteurs_vous_concerne\">Tips for buying your first home in Canada<\/a>.<\/p>\n\n\n\n<p>And don&#8217;t forget that tax-advantaged savings plans are available, including the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/investing\/registered-retirement-savings-plan-rrsp-101\/#reer_-_r_gime_d_accession_la_propri_t_rap_\">HBP (RRSP)<\/a> and the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/fhsa-everything-you-need-to-know\/\">FHSA<\/a>.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"210626,0\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-buy-or-rent-calculator\">Buy or rent &#8211; Calculator<\/h3>\n\n\n\n<p>Several calculators are available online to help you decide whether to buy or rent. These include the major Canadian banks and mortgage brokers.<\/p>\n\n\n\n<p>We really like the AMF (Autorit\u00e9 des march\u00e9s financiers) calculator, because it&#8217;s easy to use and lets you quickly compare the two options based on your data. What&#8217;s more, the tool is available in both English and French.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-pros-and-cons-of-buying-a-home\">The pros and cons of buying a home<\/h2>\n\n\n\n<p>There are many <strong>pros and cons<\/strong> when it comes to deciding whether to <strong>buy a home<\/strong>. Examine each of them before making any decisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-benefits-of-buying-a-home\">The benefits of buying a home<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Build equity<\/strong> &#8211; Equity is the part of your home that belongs to you and is not encumbered by a mortgage. By paying off your mortgage, you increase the equity portion of your home. What&#8217;s more, the value of your home generally increases over the years. Buying a house is a kind of forced saving.<\/li>\n\n\n\n<li><strong>Creative control<\/strong> &#8211; Buying allows you to be creative with your home. You can drive nails into the wall, add extra pieces, etc. You will have full creative control over your personal space.<\/li>\n\n\n\n<li><strong>Improve your credit<\/strong> &#8211; Your <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/101-credit-score\/\">credit score<\/a> increases every time you make a mortgage payment on time. Although your <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/how-do-you-work-hypothecary-canada\/\">mortgage<\/a> may have lowered your rating when you took it out, it will improve as the loan amount decreases and it is considered a responsible debt.<\/li>\n\n\n\n<li><strong>Stability<\/strong> &#8211; The chances of you being evicted are virtually nil. If your mortgage payment is at a fixed rate, you will always know what to expect with monthly payments.<\/li>\n\n\n\n<li><strong>Maintenance<\/strong> &#8211; Owning your own home means you&#8217;re not tied to specific contractors when it comes to repairs or maintenance issues. However, living in a condominium can be different, as you pay monthly fees to the owners&#8217; association to cover maintenance work done by their contractors.<\/li>\n\n\n\n<li><strong>Privacy<\/strong> &#8211; A nosy landlord isn&#8217;t spying on your every move!<\/li>\n\n\n\n<li><strong>Investment<\/strong> &#8211; Owning a home makes it easier to invest in the future. Once your mortgage is paid in full, you will have a guaranteed asset for life.<\/li>\n<\/ul><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-disadvantages-of-buying-a-home\">The disadvantages of buying a home<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>High up-front costs<\/strong> &#8211; The up-front costs of buying a home are high: home <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/what-are-costs-foreclosure-mortgage-canada\/\">inspection<\/a>, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/down-payment-to-buy-a-home-in-canada\/\">down payment<\/a>, notary fees, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/insurance-schl-canada\/\">CMHC insurance<\/a>, transfer tax, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/strategy\/moving-furnishing-expenses\/\">moving expenses<\/a>, furniture purchases, etc. What&#8217;s more, interest rates and monthly <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/insurance\/youset-platform-home-insurance-auto\/\">home insurance<\/a> payments vary according to your down payment.<\/li>\n\n\n\n<li><strong>Repairs and maintenance<\/strong> &#8211; Owning a home makes you responsible for all maintenance and repair costs. It&#8217;s wise to set aside some money each year to cover these costs.<\/li>\n\n\n\n<li><strong>Less flexibility<\/strong> &#8211; It&#8217;s not easy to sell your home quickly, because owning a home implies commitment and responsibility. This option involves less flexibility, because you are tied to one location.<\/li>\n\n\n\n<li><strong>Higher monthly payments<\/strong> &#8211; Compared to renting, paying a mortgage is generally more expensive.<\/li>\n\n\n\n<li><strong>Less disposable income<\/strong> &#8211; Paying off a mortgage can be a costly affair, leaving you with fewer funds to invest in savings or investments.<\/li>\n<\/ul><\/div>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--4'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"210596,210579,210577,271881\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-advantages-and-disadvantages-of-renting-a-property\">The advantages and disadvantages of renting a property<\/h2>\n\n\n\n<p>Just like buying a home, renting has its advantages and disadvantages.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-advantages-of-renting-a-home\">The advantages of renting a home<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Less maintenance and hassle<\/strong> &#8211; Maintenance and repairs are carried out by your landlord or property manager, saving you money and effort.<\/li>\n\n\n\n<li><strong>Cheaper<\/strong> &#8211; Renting a home is generally less expensive than paying a mortgage. Renting is an affordable option if your income is low, and will give you more disposable income to <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/bank-accounts\/high-interest-savings-accounts-canada\/\">save<\/a> and <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/investing\/how-to-invest-online-in-canada\/\">invest<\/a>.<\/li>\n\n\n\n<li><strong>Flexibility<\/strong> &#8211; By renting, you&#8217;re not tied to a location, so you can <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/strategy\/moving-furnishing-expenses\/\">move<\/a> when your lease expires. If you&#8217;re feeling adventurous, you can pack your bags and leave with few responsibilities.<\/li>\n<\/ul><\/div>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--2'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"247124,210593\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-disadvantages-of-renting\">The disadvantages of renting<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Maintenance and repairs<\/strong> &#8211; No matter how extensive the repairs or maintenance, you can&#8217;t do anything without your landlord&#8217;s permission. This includes any form of renovation.<\/li>\n\n\n\n<li><strong>Unpredictable expenses<\/strong> &#8211; Monthly expenses are unpredictable, as your landlord may increase your rent. This is a disadvantage, as you may have financial difficulties and not be able to pay the increases.<\/li>\n\n\n\n<li><strong>Lease rules<\/strong> &#8211; You must comply with the lease rules*. Some owners do not allow pets.<\/li>\n\n\n\n<li><strong>Expulsion<\/strong> &#8211; You can be expelled for any reason*.<\/li>\n\n\n\n<li><strong>No capital<\/strong> &#8211; Renting deprives you of the opportunity to build up capital or wealth (unlike the &#8220;forced savings&#8221; aspect of a mortgage). Your monthly rent is used, among other things, to pay your landlord&#8217;s mortgage.<\/li>\n<\/ul><\/div>\n\n\n\n<p><em>*Rules differ from province to province.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-renting-or-buying-a-home-analyze-your-financial-situation\">Renting or buying a home &#8211; Analyze your financial situation<\/h2>\n\n\n\n<p>Before deciding whether to <strong>rent or buy a home<\/strong>, you need to analyze your personal and financial situation and reassess your goals. Where do you see yourself in the short and long term? Do you know where you want to live? All of these issues need to be analyzed in depth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-employment-stability\">Employment stability<\/h3>\n\n\n\n<p>It won&#8217;t be easy to convince a lender to give you a mortgage if you don&#8217;t have a steady job. You&#8217;ll also find it hard to pay your bills without a job, and you may fall behind on your mortgage payments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-location\">Location<\/h3>\n\n\n\n<p>The Toronto and Vancouver real estate market is much more expensive for mortgages, while rentals in these areas are less expensive. Before buying a property, it&#8217;s a good idea to compare mortgage payments and rental costs in the neighborhood you&#8217;re considering. In general, if you pay more than $3,000 a month in rent, a mortgage may be more advantageous.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-holding-period\">Holding period<\/h3>\n\n\n\n<p>Are you planning to live in the same house for a long time? The longer you live in a house, the more attractive the investment becomes. This is due to the total costs involved in the transfer of real estate.<\/p>\n\n\n\n<p>For example, here is a non-exhaustive list of initial costs (excluding recurring costs) that will not be recovered, regardless of how long the property is held:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/what-are-costs-foreclosure-mortgage-canada\/\">Home inspection<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/down-payment-to-buy-a-home-in-canada\/\">Down payment<\/a><\/li>\n\n\n\n<li>Notary fees<\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/insurance-schl-canada\/\">CMHC insurance<\/a> (for downpayments of less than 20%)<\/li>\n\n\n\n<li>Transfer tax<\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/strategy\/moving-furnishing-expenses\/\">Moving expenses<\/a><\/li>\n\n\n\n<li>Buying furniture<\/li>\n<\/ul><\/div>\n\n\n\n<p>What&#8217;s more, if you have to move sooner than planned, you&#8217;ll have to pay a <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/mandatory-penalties-mortgages-canada\/\">penalty to break your mortgage<\/a>. Which, in most cases, is very costly!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-long-term-commitment\">Long-term commitment<\/h3>\n\n\n\n<p>Buying a home is expensive, because you have to pay for home insurance, utilities, property taxes (municipal and school taxes), a mortgage, maintenance, improvements, <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/strategy\/how-to-save-home-improvements-credit-cards\/\">renovations<\/a> and so on. It&#8217;s for the long term, and you need to be ready for it.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--2'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"130176,382835\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-rent-a-house-before-you-buy\">Rent a house before you buy<\/h3>\n\n\n\n<p>Before you make a final decision between renting or buying a home, you may want to consider another approach, such as renting with an option to buy.<\/p>\n\n\n\n<p>More specifically, rent to own allows you to rent a house or condo with the option of buying it at the end of the rental period. This is an interesting approach for those who want to buy, but have difficulty obtaining a mortgage or saving the money required for a down payment.<\/p>\n\n\n\n<p>During the rental period, you have the same rights and responsibilities as tenants*. If you decide to buy at the end of the rental period, then you must follow the normal rules for buying a home.<\/p>\n\n\n\n<p><em>*Rules differ from province to province.<\/em><\/p>\n\n\n\n<p>There are risks for both sides:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li>Tenant-buyer: if you decide not to buy the house, or if someone else buys the house, you lose the money you paid in rent.<\/li>\n\n\n\n<li>Owner: you must ensure that the property remains rented if the sale does not materialize. If the sale goes through, you need to think about the tax implications, such as the tax payable on the capital gain.<\/li>\n<\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-know-if-you-re-ready-to-rent-or-buy-a-home\">How to know if you&#039;re ready to rent or buy a home<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-to-know-if-you-are-ready-to-buy\">How to know if you are ready to buy<\/h3>\n\n\n\n<p>If you&#8217;re ready to settle down and not move for at least the next five years, it could be a sign that you&#8217;re ready to buy. For example, buying is generally a good option if you want to start a family and stay in the same place.<\/p>\n\n\n\n<p>If you have a steady income and don&#8217;t plan to change careers anytime soon, you may be ready to buy. If you are self-employed, know that you need two years of proof of income using the <a target=\"_blank\" href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/individuals\/topics\/about-your-tax-return\/notice-assessment-understand.html\">Notice of Assessment<\/a> (NOA) from the Canada Revenue Agency (CRA). You need financial stability and responsibility to take care of your mortgage payments, utilities, repairs, and more.<\/p>\n\n\n\n<p>Don&#8217;t hesitate to consult a mortgage broker or a mortgage brokerage firm such as <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/nesto-best-morgage-rates\/\">nesto<\/a> or <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/neo-mortgage-services\/\">neo<\/a>. These have fully digital mortgage application platforms that will make the process much simpler.<\/p>\n\n\n<aside class=\"component component__notice component__notice--info wp-block-milesgutenberg-notice\">\n\t\t\t\t<i class=\"fas fa-info-circle\"><\/i>\n\t\t<div class=\"component__notice__content\">\n\t\t\t\t\n\n<p>A mortgage broker is an intermediary between a borrower and a mortgage lender. He negotiates the best mortgage for a customer by comparing offers from several lenders.<\/p>\n\n\t<\/div>\n<\/aside>\n\n\n\n<p>Finally, find out about the assistance available to first-time homebuyers in Canada, and about tax-advantaged savings plans such as the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/investing\/registered-retirement-savings-plan-rrsp-101\/#reer_-_r_gime_d_accession_la_propri_t_rap_\">HBP (RRSP)<\/a> and <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/fhsa-everything-you-need-to-know\/\">FHSA<\/a>.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--2'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"348132,313442\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-to-know-if-you-are-ready-to-rent\">How to know if you are ready to rent<\/h3>\n\n\n\n<p>If you&#8217;re not ready to settle in one place for the long term, renting an apartment or house may be preferable in your situation. If you want to travel a lot or change careers soon, these may be signs to put your home-buying plans on hold.<\/p>\n\n\n\n<p>Also, having a lot of debt can work against you when applying for a mortgage. Instead, focus on bringing your bills up to date and improving your <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/credit-score\/101-credit-score\/\">credit score<\/a> before making any major purchases, such as a house.<\/p>\n\n\n\n<p>If you don&#8217;t have a sufficient down <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/down-payment-to-buy-a-home-in-canada\/\">payment<\/a>, it&#8217;s best to continue renting. Save for a few years and once you have a good amount saved, you can approach a mortgage lender.<\/p>\n\n\n\n<p>If you don&#8217;t have a permanent job, or if you&#8217;ve been self-employed without sufficient income for two years, buying is generally not an option. In this case, save for a <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/mortgages\/down-payment-to-buy-a-home-in-canada\/\">down payment<\/a> and accumulate proof of income to make yourself more attractive to a mortgage lender.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='s'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s container_count--2'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"86318,210579\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article><article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bottom-line\">Bottom Line<\/h2>\n\n\n\n<p>In short, renting or buying a home is a personal choice. In other words, you&#8217;re the only one who knows whether home ownership is right for you. Take the time to weigh up the pros and cons of each option before making a decision.<\/p>\n\n\n\n<p>As we saw in the article, leasing offers greater flexibility. Buying a house, on the other hand, allows you to stay in the same place for a longer period at a lower cost. And, of course, to create long-term wealth with forced savings.<\/p>\n\n\n\n<p>If you still can&#8217;t make up your mind, don&#8217;t hesitate to meet with a mortgage broker. He or she can answer all your questions and help you make the right choice for your situation and objectives.<\/p>\n\n\n<aside class=\"component component__faq wp-block-milesgutenberg-faq\">\n\t\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"is_it_more_profitable_to_buy_or_rent_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tIs it more profitable to buy or rent?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Renting or buying a home is a personal choice. For each of these options, there are advantages and disadvantages. Take the time to evaluate all these options before making a decision. Then, don&#8217;t forget that factors such as your credit score, financial stability and the location you wish to live in are important considerations in your decision.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_lease-to-own_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is lease-to-own?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Rental with purchase option lets you rent a house or condo with the option of buying it at the end of the rental period. This is an interesting approach for those who want to buy, but have difficulty obtaining a mortgage or saving the money required for a down payment.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"is_it_a_good_idea_to_rent_out_your_home_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tIs it a good idea to rent out your home?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Renting out your home can be an attractive option for generating passive income and accumulating long-term value. However, renting out your home involves management responsibilities, risks and possible wear and tear on the property. In Canada, rental laws vary from province to province, so it&#8217;s important to understand them. One way to set a competitive rent is to analyze the local market.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_does_renting_a_house_with_a_purchase_option_work_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow does renting a house with a purchase option work?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Rent-to-own is an approach that lets you rent a house or condo with the option of buying it at the end of the rental period. If you want to buy a home, but don&#8217;t yet have the money for a down payment, then renting with an option to buy is an approach worth considering. During the lease, you&#8217;ll have the opportunity to save to build up your down payment.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n<\/aside>","protected":false},"excerpt":{"rendered":"<p>With real estate prices soaring in recent years, you may be wondering whether you should continue to rent or buy a home. This article attempts to answer that question.<\/p>","protected":false},"author":3,"featured_media":215121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[46375],"tags":[],"mc_loyalty_program":[],"class_list":["post-210586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","mc_market-all-of-canada"],"acf":{"mc_approved_badge":false,"mc_card_used":"","mc_featured_card_specific":null,"mc_hide_featured_card":false,"mc_post_checklist":{"mc_post_checklist_true":null,"mc_post_checklist_false":null}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Real Estate: Should you rent or buy a home in Canada? | Milesopedia<\/title>\n<meta name=\"description\" content=\"With real estate prices soaring, you may be wondering whether you should continue to rent or buy a home.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/should-you-rent-buy-home-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate: Should you rent or buy a home in Canada?\" \/>\n<meta property=\"og:description\" content=\"With real estate prices soaring, you may be wondering whether you should continue to rent or buy a home.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mp-2702.milesopedia.dev\/en\/personal-finance\/real-estate\/should-you-rent-buy-home-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Milesopedia\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/milesopedia\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-08T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-08T15:52:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2022\/06\/maison.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"840\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jean-Maximilien Voisine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@milesopedia\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jean-Maximilien Voisine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/\"},\"author\":{\"name\":\"Jean-Maximilien Voisine\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#\\\/schema\\\/person\\\/910fb721150b290316f16836cc905cad\"},\"headline\":\"Real Estate: Should you rent or buy a home in Canada?\",\"datePublished\":\"2024-06-08T12:00:00+00:00\",\"dateModified\":\"2026-05-08T15:52:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/\"},\"wordCount\":2923,\"publisher\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/maison.png\",\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-CA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/personal-finance\\\/real-estate\\\/should-you-rent-buy-home-canada\\\/\",\"name\":\"Real Estate: Should you rent or buy a home in Canada? 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