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This is the question!  I must admit there is no simple answer and it is not an easy decision.

At first glance, it seems to makes so much more sense to build equity instead of help someone else to pay his/her mortgage.  This is more true today when rents are pretty high.

As a homeowner, the equity in your home will increase over time as the mortgage balance becomes lower.  Another factor to consider is the ever increasing value of real estate, such that, at the end of the day, you will experience a growth in your net worth if you choose to own.

But what about the person who has bad credit and does not qualify for an attractive interest rate or for a mortgage at all? What about the person who does not have a down payment?  In a way, the person who rents over the same period of time does not have a property investment but may  enjoy lower living expenses and may take advantage of another investment opportunity (despite the popular belief that land and real estate are still the safest type of investment).

Sorry to disappoint you by not giving you one clear answer.  However, when comparing all of the factors regarding renting versus owning, you have to include the costs of owning a home:  the down payment, taxes, utilities, mortgage and interest, repairs, landscaping, a one-time land transfer tax, etc.  Then compare these costs with your rental expense and total income.  Can you afford it?   More specifically, how much can you afford?  Will you be happy with the property you can afford?

Of course, you should also take into account the “pride of ownership”, meaning the personal satisfaction that a person may derive from owning a property.

For more details or to have a look at some property you could afford, call me!  There is no obligation on your part, and I would be happy to help you make the right decision for you!


Rose Printz has been licenced as a realtor for almost 20 years. She loves every day of work and 85%-90% of her clients are by referrals and repeat business. Rose is one of the Top 10 realtors in her office. She keeps up with current technology and courses offered in her field.  Her slogan is:  Let this Printz treat You like Royalty. Rose’s Philosophy is “I believe you can have everything in life you want, if you will just help other people get what they want” (Zig Ziglar). Visit Rose at

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