Renter to Owner
Renter to Owner
Out of context: Reply #10
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- monNom0
never owned but from what I can tell, it's a mixed blessing. You've got something that's you're building equity in, you can do whatever you want to it (unless it's a condo, which sounds like a bunch of BS due to strata), and eventually you'll own it and just pay for taxes/maintenance.
But at the same time, if the price is too high, you might be paying far more to rent the money from the bank and pay property taxes and maintenance costs than you would to rent an equivalent place. and you wouldn't have a giant debt hanging over your head in a sinking market.
For now I'm happily renting and saving my pennies.