Should I buy a home now?
Are you in the middle of a career change? Are you planning on moving to a new city or out of Canada? If you answered yes to either of these questions…this is probably not the best time to buy a home.
Owning (as opposed to renting) is almost always a better idea than renting unless you want flexibility. Owning a home is a huge commitment and it is suggested that you keep your home for at least 5 years, You need to also consider that owning a home has unexpected costs:
1. Furnace Repairs or Replacement
2. Maintenance/Repairs
3. Insurance
4. Utilities
5. Taxes/Fees (if a condo)
However, if you own, your monthly mortgage payments are an investment and payments eventually stop. There is also a measure of mental and emotional stability in owning your home.
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.
