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Picklebobble2 · 56-60, M
CanadianTraveller · 56-60, M
@Picklebobble2 In the very long run, home ownership will pay off, depending where you live.
Here, a reasonable apartment in a safer area is about $1,600 per month. If you buy the apartment, which then becomes a condo, it is about the same because of condo fees. Both rent and condo fees are subject to increases, often on the whims of the property owner. As for repairs, when you own an apartment (condo) often repairs and upgrades are also regulated where the landowner has control.
A middle sized house mortgage is about $1,300 to $1,800 for most people here. But with ownership, eventually you will either own it outright, or keep reducing the mortgage until your monthly payment is cheap.
Here, a reasonable apartment in a safer area is about $1,600 per month. If you buy the apartment, which then becomes a condo, it is about the same because of condo fees. Both rent and condo fees are subject to increases, often on the whims of the property owner. As for repairs, when you own an apartment (condo) often repairs and upgrades are also regulated where the landowner has control.
A middle sized house mortgage is about $1,300 to $1,800 for most people here. But with ownership, eventually you will either own it outright, or keep reducing the mortgage until your monthly payment is cheap.
Picklebobble2 · 56-60, M
@CanadianTraveller Or get swamped by endless periods of economic uncertainty.......like the last year !
No 'Jobs for life' anymore, you can't guarantee anything. Sadly.
No 'Jobs for life' anymore, you can't guarantee anything. Sadly.
CanadianTraveller · 56-60, M
@Picklebobble2 That is a factor. But if someone owns a home and they get into serious economic issues, there is value in the home that can be accessed. In an apartment, you are kicked out!