The key to profitable home ownership lies in a few simple principles:  Planning, Budgeting and Saving.  If you can stick to these principles, you'll win BIG by owning rather than renting.

You have to stay in your home for 3 year or more years.   In most markets, it can take 3-6 years for a home to appreciate enough to offset the costs of selling and moving.

You're psychologically prepared.  Home ownership means dealing with whatever comes up - from noisy neighbours to malfunctioning A/C.  You can't just call the landlord for help or pack up and move as easily as when you are renting.

You have some extra savings. Home buyers who spend every dime they have a house inevitably are blindsided by repairs, maintenance and all other costs of owning a home.  Then they go into debt trying to keep up with their current lifestyle.  Smart home buyers make sure they have an amount in savings equal to at least 2 mortgage payments after the deal closes, and preferably much more.

You manage your money well.  Paying a monthly morrgage and separate bill creates a forced savings habit.  If you're the kind of person who lives on credit cards and doesn't know where the money goes, you'd be smart to clean up you financial act long before you go into hunting fo a house.

Overall, it is far better to own your own home than it is to rent.  Not only for the pride of ownership, but also to build up your assets for future financial security.

If you're thinking of buying you can find your new home at: or email


Harold Kewley

Harold Kewley

Broker of Record
CENTURY 21 Network Realty Ltd., Brokerage*
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