Which way should I go?
People ask me, is it worth it buying a house? a condo? or should I just rent?
My answer changes every time the question is asked. It is based on the persons situation.
I always say buying is better! but why? why is it better to buy if I'm going to put the money I saved as a down payment and then go through the process of borrowing money to make the same, if not, more monthly payments than just renting...
That's true, however your down payment is not going to waste when you put it away into a property and it matures in time, than just leaving it in the bank account. The other is it better to buy a house or a condo? it varies in the situation where if your young and want less stress as well as no maintenance needed then I would say condo is better. But when you want to establish some roots and start a family with your loved one, the extra land in the back for BBQ parties and a garage for his tools would come in handy.
Finally thinking of renting? that's a good approach however think of this, your now basically paying a mortgage annually without even being an owner. first you have monthly rent that your giving to your land lord where he is paying off his mortgage while you stay in one of his units. secondly your bound to an annual contract and renewable yearly.
When we look at our options and find ourselves in a situation choosing the best road to take than you turn for advise, the best advice you get is either a loved one or a professional you trust. Always keep your options opened and the rest will come alone.
I hope this was helpful to some of you.!